Understanding the Market | BRIGHT SMART rose over 5%, stock price reached a new historical high, institutions optimistic about ANT GROUP's tender offer breaking the ceiling

Zhitong
2025.07.21 02:47
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BRIGHT SMART rose over 5%, reaching an intraday high of HKD 17.68, a new historical high. As of the time of publication, it rose 5.11% to HKD 17.28, with a transaction volume of HKD 747 million. In terms of news, in April this year, ANT GROUP planned to acquire 50.55% of BRIGHT SMART's shares through its wholly-owned subsidiary Shanghai Yunjin Information Technology Co., Ltd. Previously, ANT GROUP stated that it would apply for stablecoin licenses in Hong Kong and Singapore. Guojin Securities pointed out that relying on ANT's layout in web3.0 technology and licenses may open up the imagination space for BRIGHT SMART's virtual asset business. BRIGHT SMART can upgrade its existing Type 1 license to access virtual asset trading, including stablecoins; upgrade its existing Type 4 license to provide advice on virtual assets; and upgrade its existing Type 9 license to manage investment portfolios with over 10% in virtual assets; the possibility of BRIGHT SMART submitting an application for a virtual asset trading platform (VATP) license to the SFC cannot be ruled out. Additionally, the firm noted that the core driver of the company's brokerage commission income is the Hong Kong stock market, which trends similarly to the daily trading volume of Hong Kong stocks. From April to June 2025, the daily trading volume of Hong Kong stocks increased by 97% year-on-year, and it is expected that trading in Hong Kong stocks will remain hot this year, directly benefiting the company

According to Zhitong Finance APP, BRIGHT SMART (01428) rose over 5%, reaching an intraday high of HKD 17.68, a new historical high. As of the time of writing, it has increased by 5.11%, priced at HKD 17.28, with a transaction volume of HKD 747 million.

In terms of news, in April this year, ANT GROUP planned to acquire 50.55% of BRIGHT SMART through its wholly-owned subsidiary Shanghai Yunjin Information Technology Co., Ltd. Previously, ANT GROUP stated that it would apply for stablecoin licenses in Hong Kong and Singapore. Guojin Securities pointed out that relying on ANT's layout in web 3.0 technology and licenses may open up the imagination space for BRIGHT SMART's virtual asset business. BRIGHT SMART can upgrade its existing Type 1 license to access virtual asset trading, including stablecoins; upgrade its existing Type 4 license to provide advice on virtual assets; and upgrade its existing Type 9 license to manage investment portfolios with over 10% in virtual assets. The possibility of BRIGHT SMART submitting an application for a Virtual Asset Trading Platform (VATP) license to the SFC cannot be ruled out.

Additionally, the firm noted that the core driver of the company's brokerage commission income is the Hong Kong stock market, which trends in line with the daily average trading volume of Hong Kong stocks. From April to June 2025, the daily average trading volume of Hong Kong stocks increased by 97% year-on-year, and it is expected that trading in Hong Kong stocks will remain hot this year, which will directly benefit the company

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