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ORGANIZATION AND PRINCIPAL ACTIVITIES (Tables)
12 Months Ended
Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of details of the Group's subsidiaries, VIEs and VIEs' subsidiaries

As of December 31, 2022, details of the Group’s major principal operating subsidiaries, VIEs and VIEs’ subsidiaries were as follows:

 

Date of
incorporation
or acquisition

 

Place of
establishment/
incorporation

 

Percentage of
legal ownership

Subsidiaries:

 

 

 

 

 

 

Tiger Brokers (NZ) Limited (“TBNZ”)

 

August 02, 2016

 

New Zealand

 

100%

Up Fintech International Limited (“Up International”)

 

February 08, 2018

 

Hong Kong

 

100%

Tiger Fintech (Singapore) PTE Ltd. (“Tiger SG”)

 

March 13, 2018

 

Singapore

 

100%

Tiger Brokers (Singapore) PTE Ltd. (“Tiger Brokers SG”)

 

March 27, 2018

 

Singapore

 

100%

US Tiger Securities, Inc. (“US Tiger Securities”)

 

March 30, 2018

 

United States of
America(“USA”)

 

100%

Beijing Bohu Xiangshang Technology Co., LTD (“Beijing BHXS”, “Beijing
  WFOE I”)

 

May 17, 2018

 

PRC

 

100%

Tiger Fintech Holdings, Inc (“Tiger Fintech Holdings”)

 

July 09, 2018

 

USA

 

100%

Beijing Xiangshang Yixin Technology Co., Ltd (“Beijing Yixin”, “Beijing
  WFOE II”)

 

July 26, 2018

 

PRC

 

100%

Trading Front Inc (“Trading Front”)

 

August 01, 2018

 

USA

 

100%

Wealthn LLC (“Wealthn”)

 

August 01, 2018

 

USA

 

100%

Kastle Limited (“Kastle”)

 

October 15, 2018

 

Hong Kong

 

100%

Tung Chi Consulting Limited (“Tung Chi”)

 

January 29, 2019

 

Hong Kong

 

100%

TradeUP Securities Inc (US) (“TradeUP Securities”)

 

July 12, 2019

 

USA

 

100%

Tradeup Inc. (“Tradeup”)

 

October 10, 2019

 

USA

 

100%

Hangzhou U-Tiger Technology Co. LTD (“Hangzhou U-Tiger”)

 

April 09, 2020

 

PRC

 

100%2

Tiger Fintech (NZ) Limited (“TFNZ”)

 

May 17, 2021

 

New Zealand

 

100%

Tiger Services (AU) Pty Ltd (“Tiger Services AU”)

 

August 27, 2021

 

Australia

 

100%

Tiger Brokers (AU) PTY Limited (“TBAU”)

 

September 13, 2021

 

Australia

 

100%

Tiger Brokers (HK) Global Limited (“Tiger Brokers HK”)

 

October 26, 2021

 

Hong Kong

 

100%

VIEs:

 

 

 

 

 

 

Beijing Xiangshang Rongke Technology Co. LTD (“Beijing Rongke”,
  “Ningxia VIE”)

 

June 11, 2014

 

PRC

 

Consolidated VIE

Beijing Xiangshang Yiyi Laohu Technology Group Co., LTD (“Beijing Yiyi”,
  “Beijing VIE”)

 

October 29, 2018

 

PRC

 

Consolidated VIE

VIEs’ subsidiaries:

 

 

 

 

 

 

Tiger Technology Corporation Limited (“Tiger Technology”)

 

October 14, 2014

 

Hong Kong

 

VIE’s subsidiary

Beijing U-Tiger Network Technology Co., LTD (“Beijing U-Tiger Network”)

 

April 20, 2016

 

PRC

 

VIE’s subsidiary

Beijing U-Tiger Business Service Co., Ltd (“Beijing U-Tiger Business”)

 

April 21, 2016

 

PRC

 

VIE’s subsidiary

Beijing Chenhao Technology Co., LTD. (“Beijing Chenhao”)

 

August 11, 2016

 

PRC

 

VIE’s subsidiary

Beijing Zhijianfengyi Information Technology Co., Ltd (“Beijing ZJFY”)

 

January 25, 2018

 

PRC

 

VIE’s subsidiary

Shenzhen Xiang Shang Hu Xun Technology Co., LTD (“HuXun”)

 

June 20, 2018

 

PRC

 

VIE’s subsidiary

Beijing Yixin Xiangshang Technology Co.,LTD (“Beijing Xiangshang”)1

 

September 05, 2018

 

PRC

 

VIE’s subsidiary

Guangzhou U-Tiger Technology Co., LTD (“Guangzhou U Tiger”)

 

December 24, 2018

 

PRC

 

VIE’s subsidiary

1 In May 2022, the name of “Beijing Huyi Technology Co., Ltd” was changed to “Beijing Yixin Xiangshang Technology Co.,LTD”.

2 Up Fintech International Limited owns 85% percentage of the shares of Hangzhou U-Tiger, and the holder of the remaining 15% has pledged its voting interest to Up Fintech International Limited, which as a result controls 100% of the voting power of this entity.

Schedule of assets, liabilities, results of operations and cash flows of the VIEs

The following table sets forth the assets, liabilities, results of operations and cash flows of the VIEs and VIEs’ subsidiaries taken as a whole, which were included in the Group’s consolidated financial statements with intercompany balances and transactions eliminated between the VIEs and VIEs’ subsidiaries:

 

As of December 31,

 

 

2021

 

 

2022

 

 

US$

 

 

US$

 

Current assets

 

 

51,873,657

 

 

 

58,095,337

 

Non-current assets

 

 

16,083,322

 

 

 

12,145,470

 

Total assets

 

 

67,956,979

 

 

 

70,240,807

 

Current liabilities

 

 

25,422,094

 

 

 

29,848,034

 

Non-current liabilities

 

 

6,858

 

 

 

640,527

 

Total liabilities

 

 

25,428,952

 

 

 

30,488,561

 

 

1.
ORGANIZATION AND PRINCIPAL ACTIVITIES (Continued)

Risks in relation to the VIE structure (Continued)

 

For the years ended December, 31

 

 

2020

 

 

2021

 

 

2022

 

 

US$

 

 

US$

 

 

US$

 

Total revenues

 

 

16,191,693

 

 

 

65,295,325

 

 

 

44,382,701

 

Net loss

 

 

(7,524,524

)

 

 

(700,720

)

 

 

(8,220,848

)

 

 

For the years ended December, 31

 

 

2020

 

 

2021

 

 

2022

 

 

US$

 

 

US$

 

 

US$

 

Net cash (used in) provided by operating activities

 

 

(597,323

)

 

 

18,431,299

 

 

 

(1,552,547

)

Net cash provided by (used in) investing activities

 

 

646,647

 

 

 

(4,048,620

)

 

 

(416,486

)

Net cash provided by (used in) financing activities

 

 

311,688

 

 

 

(5,091,778

)

 

 

3,760,937