공고 • 3h
Bright Smart Securities & Commodities Group Limited Announces Retirement of Lyn Frank Yee Chon as Independent Non-Executive Director, Chairman of Audit Committee, Member of Nomination Committee, Remuneration Committee, Risk Management Committee, and Environmental, Social and Governance Committee Bright Smart Securities & Commodities Group Limited announced that Mr. Lyn Frank Yee Chon, an independent non-executive Director, was subject to retirement by rotation at the forthcoming Annual General Meeting and decided not to offer himself for re-election at the AGM in order to devote more time to his other pursuits and commitments. Mr. Lyn will retire from the Board after the conclusion of the AGM. Mr. Lyn will cease to be the chairman of the Audit Committee, a member of the Nomination Committee, a member of the Remuneration Committee, a member of the Risk Management Committee, and a member of the Environmental, Social and Governance Committee with effect from the conclusion of the AGM. Reported Earnings • Jul 19
Full year 2026 earnings released: EPS: HK$0.40 (vs HK$0.36 in FY 2025) Full year 2026 results: EPS: HK$0.40 (up from HK$0.36 in FY 2025). Revenue: HK$1.15b (flat on FY 2025). Net income: HK$670.2m (up 8.5% from FY 2025). Profit margin: 58% (up from 54% in FY 2025). Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Capital Markets industry in Hong Kong. 공고 • Jun 24
Bright Smart Securities & Commodities Group Limited, Annual General Meeting, Aug 28, 2026 Bright Smart Securities & Commodities Group Limited, Annual General Meeting, Aug 28, 2026. Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to HK$7.63, the stock trades at a trailing P/E ratio of 20.5x. Average trailing P/E is 12x in the Capital Markets industry in Hong Kong. Board Change • May 20
Less than half of directors are independent There are 8 new directors who have joined the board in the last 3 years. Of these new board members, 4 were independent directors. The company's board is composed of: 8 new directors. No experienced directors. 1 highly experienced director. 4 independent directors (5 non-independent directors). Co-CEO & Executive Director Edmond Hui is the most experienced director on the board, commencing their role in 2015. Independent Non-Executive Director Qian Zhang was the last independent director to join the board, commencing their role in 2026. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. 공고 • Apr 30
Innovatech Empowerment Company Limited completed the acquisition of 0.07% stake in Bright Smart Securities & Commodities Group Limited (SEHK:1428) for HKD 4.2 million. Innovatech Empowerment Company Limited proposed to acquire 49.45% stake in Bright Smart Securities & Commodities Group Limited (SEHK:1428) for HKD 2.8 billion on April 25, 2025. A cash consideration of HKD 2.75 billion valued at HKD 3.28 per share will be paid by Innovatech Empowerment Company Limited. As part of consideration, HKD 2.75 billion is paid towards common equity of Bright Smart Securities & Commodities Group Limited. As of June 13, 2025, none of the Completion Conditions has been satisfied and/or waived. The Offeror and the Company will continue to progress with the satisfaction of the Completion Conditions. The submitted preliminary reporting documents are under review by, and subject to the comments of, the National Development and Reform Commission of the PRC. Bright Smart Securities & Commodities Group Limited form an special committee for the acquisition.
As of September 23, 2025, the Offeror has received the SFC’s approval. As of November 11, 2025, the Long Stop Date (i.e. November 25, 2025) is approaching, the remaining Completion Conditions may not be satisfied on or before the Long Stop Date. The Offeror is considering potential extension of the Long Stop Date. As of March 15, 2026, Innovatech Empowerment Company Limited has completed necessary reporting procedures with the relevant authorities in the PRC for high-value non-sensitive investment projects, satisfying one of the completion conditions. Additionally, the Offeror received approval from the SFC to become a substantial shareholder, with an extension granted for this approval until 30 April 2026. As of April 8, 2026 Offer open for acceptance open from April 8, 2026 to April 29, 2026. The transaction is expected to take place on April 29, 2026.
Morgan Stanley Asia Limited acted as financial advisor for Innovatech Empowerment Company Limited. somerley capital limited act as independent financial adviser to the independent board committee.
Innovatech Empowerment Company Limited completed the acquisition of 0.07% stake in Bright Smart Securities & Commodities Group Limited (SEHK:1428) for HKD 4.2 million on April 29, 2026.
Except for Mr. Hui Yik Bun who would remain as an executive Director, all the other Directors as at the date of the Composite Document had tendered their resignations from the Board, and the following resignations will take effect from the day immediately after the closing date of the Offer. 공고 • Mar 30
Innovatech Empowerment Company Limited completed the acquisition of 50.55% stake in Bright Smart Securities & Commodities Group Limited (SEHK:1428) from Yip Mow Lum. Innovatech Empowerment Company Limited agreed to acquire 50.55% stake in Bright Smart Securities & Commodities Group Limited (SEHK:1428) from Yip Mow Lum for HKD 2.8 billion on April 25, 2025. A cash consideration of HKD 2.81 billion valued at HKD 3.28 per share will be paid by Innovatech Empowerment Company Limited. As part of consideration, HKD 2.81 billion is paid towards common equity of Bright Smart Securities & Commodities Group Limited. As of June 13, 2025, Bright Smart Securities & Commodities announced the satisfaction of the Completion Conditions are the Offeror has submitted the application to the SFC for approval for each of the Offeror and the other relevant persons and the Offeror has submitted the preliminary reporting documents to the National Development and Reform Commission of the PRC with respect to the transactions contemplated under the Share Purchase Agreement in accordance with the Measures for the Administration of Overseas Investment of Enterprises. As of July 11, 2025, the Offeror has been making progress with the relevant authorities, namely the SFC and the National Development and Reform Commission of the PRC, with a view to satisfying these Completion Conditions as soon as possible. The Offeror and the Company will continue to progress with the satisfaction of the Completion Conditions.
On September 23, 2025, the Offeror received approval from the Securities and Futures Commission (SFC). This approval is valid for six months, contingent on the completion of the acquisition within this timeframe or an extended period agreed upon by the SFC. The Offeror has also submitted necessary documents to the National Development and Reform Commission of the PRC (NDRC) and is actively working with them, with procedures progressing as planned.
As of November 25, 2025, few completion conditions for the Offer have been satisfied, while others remain pending. The Offeror has amended the Share Purchase Agreement to extend the Long Stop Date from November 25, 2025, to March 25, 2026, due to anticipated delays in receiving approval from National Development and Reform Commission and the upcoming holiday period. This extension was formalized through an Amendment Agreement, which also increased the Further Deposit from HKD 140.71 million to HKD 164.16 million representing approximately 5.83% of the total consideration for the Sale Shares. The Offeror has already notified the Seller and paid the revised Further Deposit to secure this extension. No other significant changes were made to the Share Purchase Agreement.
The long stop date for the transaction is March 25, 2026. On March 15, 2026, the transaction has received all the closing condition pursuant to the agreement. The transaction is now expected to close on March 30, 2026.
Morgan Stanley Asia Limited acted as exclusive financial advisor for Innovatech Empowerment Company Limited. Somerley Capital Limited as the Independent Financial Adviser to Bright Smart Securities & Commodities' Independent Board Committee and the Independent Shareholders.
Innovatech Empowerment Company Limited completed the acquisition of 50.55% stake in Bright Smart Securities & Commodities Group Limited (SEHK:1428) from Yip Mow Lum March 30, 2026. 
