Lion Group Holding Ltd

Lion Group Holding Ltd. was incorporated in the Cayman Islands on February 11, 2020, to facilitate a Business Combination, after which it became the ultimate parent company of Lion, holding no operating assets other than its ownership interests in Lion. Lion Financial Group Limited, a holding company for the businesses, was incorporated in the British Virgin Islands in June 2015. In May 2016, Lion International Securities Group Limited, Lion Futures Limited, Lion Capital Management Limited, BC Wealth Management Limited, and Lion Foreign Exchange Limited were incorporated in Hong Kong to conduct securities and futures brokerage, asset management, and forex trading businesses, respectively. Lion International Securities Group Limited and Lion Futures Limited were dissolved in December 2025. BC Wealth Management Limited, incorporated in Hong Kong in October 2014, initiated the company's insurance brokerage business and was sold to a third party in June 2024. Lion Wealth Management Limited was incorporated in the British Virgin Islands in February 2017 as a holding company for BC Wealth Management Limited. Lion Brokers Limited was incorporated in the Cayman Islands in March 2017 as a wholly owned subsidiary of Lion Financial Group Limited. Lion Wealth Limited was incorporated in Hong Kong in October 2018 as the Asia head office. Lion International Financial (Singapore) Pte. Ltd. was incorporated in Singapore in July 2019, but as of the date of this annual report, no financial services have been provided through this entity. In December 2019, Lion Capital Management Limited changed its name to Lion Asset Management Limited and was sold to a third party in June 2024.