The Upbest Group is principally engaged in the provision of financial services including securities broking, futures broking, securities margin financing, money lending, corporate finance advisory, assets management, precious metals trading and property investment. The Group's operations have been established since 1988 and its activities are primarily operated in Hong Kong and Macau.
What is Upbest Group？
Upbest Group, based in Hong Kong and regulated by the SFC, has been in the financial services industry for over 20 years.
They offer stock and futures broking, alongside corporate finance advisory and asset management services. Upbest supports both margin and new stock trading.
Their fee structure includes a 0.00565% trading fee and a $5.00 per lot withdrawal fee. They utilize the Internet Trading Token App, which accommodates securities and commodities online trading.
Customer support is provided via phone and email, and their educational resources include announcements and memorandum and articles of association.
Regulatory Status
Upbest Group, under the oversight of the Securities and Futures Commission (SFC) in Hong Kong, holds several licenses, demonstrating a wide scope of regulated activities. The regulatory details for the Upbest Group are as follows:
Upbest Securities Company Limited is licensed under the number ACR387 by the Securities and Futures Commission (SFC) of Hong Kong. This license allows them to offer a broad range of financial services including trading and advising on ETFs,Stocks,Securities Lending Fully Paid,Mutual Funds,Investment Advisory Service. The company also provides services in options, futures, and securities lending. The license became effective on October 12, 2010, and the company is located at the 2/F Wah Kit Commercial Centre, 302 Des Voeux Road Central, Hong Kong.
Upbest Commodities Company Limited holds SFC license number AEY503, enabling it to deal in commodities alongside a similar range of financial instruments as the securities division. This includes services such as Futures,Investment Advisory Service. The effective date of the license is also October 12, 2010, with operations based at the same address as the securities company.
Upbest Investment Company Limited operates under license number ACR645 from the SFC, providing services in Margin Loans. They also offer advisory services on securities and futures. Their license came into effect on October 12, 2010, and their office is located at the 2/F Wah Kit Commercial Centre, 302 Des Voeux Road Central, Hong Kong.
Upbest Assets Management Limited is licensed by the SFC with license number AFF398 to manage assets across a range of investment vehicles including ETFs, Securities Lending Fully Paid,Mutual Funds, Investment Advisory Service. They also offer services in futures, options, and securities lending. The license was granted on October 12, 2010, and the company's operations are based out of the 2/F Wah Kit Commercial Centre, 302 Des Voeux Road Central, Hong Kong.
Pros & Cons
Pros:
Upbest Group offers competitive rates and is regulated by respected authorities, ensuring a secure trading environment. They provide a diverse array of tradable assets and are recognized for their experience and strong financial standing, which builds investor confidence.
Cons:
Upbest Group does not offer 24/7 support, potentially limiting support for global traders. They lack promotional incentives for new clients and impose withdrawal fees, which adds extra costs for clients accessing their funds.
Tradable Securities
The tradable securities offered by Upbest Group include:
Stock Broking: Upbest Group provides services for trading in stocks, allowing clients to buy and sell shares on the stock market.
Futures Broking: They also offer futures trading, which involves contracts for the future delivery of various financial instruments or physical commodities.
Services
Upbest Group provides a range of financial services including:
Corporate Finance Advisory: They offer expert advice on corporate finance, helping businesses with capital raising, financial restructuring, and navigating complex financial transactions.
Commissions and Fees
The fee structure for securities trading as outlined includes various charges applicable during trading on the Hong Kong Securities market:
Brokerage Fees: Brokerage fees for trading via internet are charged at 0.175% of the transaction amount or a minimum of $50.00. For trades executed by phone, the rate increases to 0.25% with a minimum charge of $100.00. These fees compensate the broker for the service of executing trades.
Stamp Duty: A stamp duty of $1 per $1,000 of the transaction value is levied, serving as a government tax on securities transactions to generate revenue and regulate market activity.
Trading Fee: A trading fee of 0.00565% is applied to all transactions, effective from January 1, 2023. This fee is typically used to cover the operational costs of the securities exchange.
Transaction Levies: The Securities and Futures Commission (SFC) charges a transaction levy of 0.0027%, and the Financial Reporting Council (FRC) imposes a transaction levy of 0.00015%. These levies fund regulatory activities and enhance market oversight.
Handling Fees: General handling fees are 0.02% of the transaction, with a minimum of $2.00 and a maximum of $200.00. Additional handling fees apply to services like subscriptions and dividends, with varying minimum charges to cover administrative costs associated with processing these transactions.
Transfer and Withdrawal Fees: A fee of $5.00 per lot is charged for transfer deeds and standard withdrawals, with odd lot withdrawals costing $30.00 per 10 certificates, and additional certificates charged at $8.00 each. These fees cover the costs of transferring ownership and processing physical documents.
Other Specific Charges: These include cash offer fees of $0.80 per lot and S.I./I.S.I charges of $20.00 per stock transaction. Dividend-related charges involve script fees and collection charges to manage and distribute dividends. Stop payment fees on cheques are $100.00 for the bank charge and $50.00 for handling, addressing the costs and risks associated with stopping payment processes.
Platforms
Upbest Group offers several platforms for trading, meeting both securities and commodities markets:
Securities Internet Trading System: This platform allows investors to trade stocks online. However, users are cautioned about potential risks such as interruptions, transmission blackouts, delays, and the possibility of trades executing at different prices due to internet traffic and the public nature of the internet.
Commodities Online Trading System: Similar to the securities trading system, this platform facilitates online trading of commodities. It carries similar risks related to internet-based transactions, including delays and incomplete or incorrect executions due to internet traffic or data transmission errors.
Internet Trading Token App: Available for download on both the App Store and Play Store, this app supports the trading activities on mobile devices, offering a convenient way for users to engage in trading activities on the go.
Customer Service
Upbest Group offers customer support from their office located at 2/F, Wah Kit Commercial Centre, 300 Des Voeux Road Central, Hong Kong.
Clients can reach their support team by calling the phone number 852 2545 3298 for immediate assistance or by sending inquiries via email to info@upbest.com. This setup provides direct and accessible customer service to address any questions or issues that may arise.
Educational Resources
Upbest Group provides several types of educational resources through its Investor Relations section, Some of the keys available are:
Announcements: Upbest Group regularly posts announcements regarding its operations and financial updates, including monthly returns on equity issuer movements in securities. These announcements provide transparency and ongoing updates about the company's performance and significant financial activities.
Memorandum and Articles of Association: These documents form the constitutional basis for the company, outlining the responsibilities of the directors, the rights of shareholders, and the overall governance structure of Upbest Group. They are essential for understanding the legal framework and operational guidelines within which the company operates.
Shareholder Communication Policy: This policy details the methods and practices Upbest Group uses to communicate with its shareholders, ensuring they are well-informed and engaged. It emphasizes transparency and timely disclosure of information, facilitating an effective dialogue between the company and its investors.
Corporate Communications: Upbest Group engages in corporate communications to share key information with stakeholders, including financial results, strategic decisions, and other relevant corporate affairs. This ensures that all stakeholders are kept up-to-date with the companys activities and developments.
Terms of Reference: These are specific guidelines that outline the scope, responsibilities, and procedures of the company's various committees. The terms of reference help ensure that these committees operate effectively and are aligned with the companys objectives and governance standards.
Conclusion
Upbest Group, listed under HKEX Stock Code 335, is actively engaged in providing transparent and detailed corporate communications to its stakeholders through various channels.
The company regularly updates its operations, financial status, and governance through announcements, monthly reports, and corporate communications.
It maintains a robust framework for shareholder relations and legal governance outlined in its memorandum and articles of association, as well as its shareholder communication policy.
These efforts ensure that stakeholders are well-informed and that the company maintains high standards of corporate governance and transparency.
FAQs
Question: What is the HKEX Stock Code for Upbest Group？
Answer: The HKEX Stock Code for Upbest Group is 335.
Question: How does Upbest Group communicate with its shareholders？
Answer: Upbest Group communicates with its shareholders through regular announcements, financial reports, a dedicated shareholder communication policy.
Question: What are the recent financial updates announced by Upbest Group？
Answer: Recent financial updates include monthly returns on equity issuer movements in securities, detailed for each month in the past year, reflecting the latest changes in the company's securities and financial status.
Question: Where is Upbest Group's headquarters located？
Answer: Upbest Group is located at 2/F, Wah Kit Commercial Centre, 300 Des Voeux Road Central, Hong Kong.
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