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Tiger International Q1 revenue increased by 26.3% year-over-year, recording a net loss of approximately $26.9 million, with client assets steadily growing

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Golden Finance reports that on June 2nd, Tiger International announced its unaudited financial data for the first quarter, with revenue of $155 million, a year-over-year increase of 26.3%; operating profit of $47.55 million, a year-over-year increase of 17.5%; and a steady operating profit margin of 34.8%. The net loss attributable to the company for the first quarter and the non-GAAP net loss were approximately $26.9 million and $23.8 million, respectively, while the net profit for the same period last year was $30.4 million and $36 million, mainly due to a regulatory fine of about 411 million yuan (approximately $59.7 million). Given the company's overall profitability and cash flow situation, this one-time expense will not have a significant adverse impact on the company's business operations or long-term development.
In the first quarter, Tiger International added 29k new deposit clients, driving the total number of deposit clients to grow by 11.3% year-over-year to 29k. The company's business activity continued to increase, with total trading volume rising 49% year-over-year to $323.9 billion; net deposits maintained strong growth, reaching $2.9 billion, pushing total client assets up 28.4% year-over-year to $58.9 billion.
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