Latest! Ant Group's acquisition of Bright Smart Securities approved

Ant Group’s Acquisition of Bright Smart Securities Advances!

Bright Smart Securities announced on the evening of the 16th that the tender offer initiated by Ant Group has received approval from relevant authorities and is expected to be completed by March 30th.

Bright Smart Securities stated that, as part of the acquisition by Ant Group, all conditions for the transaction have been met. The announcement mentioned that the company’s stock was briefly suspended on the 16th and will resume trading starting from the market open on the 17th.

Notably, last Friday (March 13th), Bright Smart Securities (01428.HK) surged in volume, with Hong Kong stocks rising over 40% during trading, reaching a high of HKD 9.95, the highest in over four months.

On April 25, 2025, Ant Group’s wholly owned subsidiary, Shanghai Yunjin Information Technology Co., Ltd., announced it would acquire 50.55% of Bright Smart Securities held by founder Ye Maolin at HKD 3.28 per share, totaling approximately HKD 2.814 billion. This move aims to obtain a Hong Kong securities license and accelerate its international expansion.

On October 10, 2025, the acquisition was approved by the Hong Kong Securities and Futures Commission, allowing Ant to become a shareholder of several regulated subsidiaries under Bright Smart.

On the evening of November 25, 2025, Bright Smart Securities announced that, considering reporting procedures with relevant authorities and the holiday in the first quarter of 2026, more time would be needed to complete filings with the National Development and Reform Commission. As a result, the offeror and the seller revised several terms of the share purchase agreement, including extending the final deadline to March 25, 2026, and increasing the deposit from HKD 140 million to HKD 164 million.

Bright Smart Securities is a leading local brokerage firm in Hong Kong, founded in 1995. Its current services include Hong Kong stock trading, margin financing, securities custody and agency services, futures and options trading, leveraged foreign exchange trading, and spot gold and silver trading. Bright Smart holds licenses numbered 1, 2, 3, 4, 5, 7, and 9 issued by the Hong Kong Securities and Futures Commission, covering securities, futures, forex, and asset management. As of September 30, 2024, Chairman Ye Maolin and his controlled company, New Changming Holdings Limited, collectively owned 51.14% of Bright Smart Securities.

Industry experts generally believe that Ant Group aims to complement its Hong Kong financial licenses and capabilities through this acquisition, further building a comprehensive financial ecosystem of “securities + digital payments + virtual assets.”

Donghai Securities Research Institute noted that Ant’s wealth management platform connects over 150 asset management institutions and a rich array of financial products, which can complement Bright Smart’s stock trading, asset management, and derivatives businesses. With Ant Group’s user base exceeding one billion, this is expected to further increase market share and gradually develop a wealth management ecosystem with deep customer resource integration and a diversified product matrix.

Formatting: Wang Yunpeng

Proofreading: Gao Yuan