XML 22 R2.htm IDEA: XBRL DOCUMENT v3.23.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Assets:    
Cash and cash equivalents $ 277,660,847 $ 269,057,708
Cash-segregated for regulatory purpose 1,678,067,682 1,431,827,247
Term deposits 945,533 3,044,461
Receivables from customers (net of allowance of US$518,741 and US$696,508 as of December 31, 2021 and 2022) 644,691,190 664,657,453
Receivables from brokers, dealers, and clearing organizations (net of allowance of nil as of December 31, 2021 and 2022)    
Related parties   804,639,024
Third parties 956,945,581 75,143,153
Financial instruments held, at fair value 162,535,184 3,902,987
Prepaid expenses and other current assets 12,963,375 16,051,623
Amounts due from related parties 4,769,475 2,947,871
Total current assets 3,738,578,867 3,271,271,527
Right-of-use assets 13,960,092 6,613,520
Property, equipment and intangible assets, net 16,504,065 14,031,652
Goodwill 2,492,668 2,492,668
Long-term investments 7,928,499 9,777,844
Other non-current assets 4,773,925 4,973,085
Deferred tax assets 13,122,272 12,258,360
Total assets 3,797,360,388 3,321,418,656
Liabilities:    
Payables to customers 2,996,405,447 2,509,492,814
Payables to brokers, dealers and clearing organizations    
Related parties   170,338,199
Third parties 138,620,746 499,978
Accrued expenses and other current liabilities (including accrued expenses and other current liabilities of the consolidated VIEs without recourse to the Group of US$15,611,533 and US$11,128,854 as of December 31, 2021 and 2022,respectively) 37,777,749 33,746,177
Deferred income - current 1,800,298 1,213,647
Lease liabilities - current (including lease liabilities - current of the consolidated VIEs without recourse to the Group of US$1,057,862 and US$1,166,763 as of December 31,2021 and 2022, respectively) 5,490,079 2,610,041
Amount due to related parties 461,704 2,039,287
Total current liabilities 3,180,556,023 2,719,940,143
Convertible bonds    
Related parties   25,330,766
Third parties 154,337,483 123,510,910
Deferred income – non-current 388,423 1,382,091
Lease liabilities - non-current (including lease liabilities - non-current of the consolidated VIEs without recourse to the Group of US$6,858 and US$640,253 as of December 31, 2021 and 2022, respectively) 8,390,077 3,092,913
Deferred tax liabilities( (including deferred tax liabilities of the consolidated VIEs without recourse to the Group of nil and US$274 as of December 31, 2021 and 2022, respectively) 2,059,748 1,535,965
Total liabilities 3,345,731,754 2,874,792,788
Commitments and Contingencies (Note19)
Mezzanine equity    
Subscriptions receivable from redeemable non-controlling interests (43,496)  
Redeemable non-controlling interests 4,685,238  
Total Mezzanine equity 4,641,742  
Shareholders’ equity:    
Additional paid-in capital 495,705,684 484,335,291
Statutory reserve 6,171,627 3,562,888
Accumulated deficit (50,366,734) (45,788,131)
Treasury stock (10,429,305 and 10,429,305 shares as of December 31, 2021 and 2022, respectively) (2,172,819) (2,172,819)
Accumulated other comprehensive income (loss) (2,231,411) 6,665,819
Total UP Fintech shareholder's equity 447,129,536 446,625,868
Non-controlling interests (142,644)  
Total equity 446,986,892 446,625,868
Total liabilities, mezzanine equity and equity 3,797,360,388 3,321,418,656
Class A ordinary shares    
Shareholders’ equity:    
Ordinary shares 22,213 20,599
Class B ordinary shares    
Shareholders’ equity:    
Ordinary shares $ 976 $ 2,221