Bright Smart Securities & Commodities Group (1428) Q4 2026 earnings summary

Executive summary

• Revenue increased by 3.7% year-over-year to HK$1,008.3 million, with net profit after tax rising 8.5% to HK$670.2 million and EPS up 8.5% to 39.49 HK cents.

• Total client accounts grew 4.2% to 611,870, and client assets surged 31.6% to HK$84.5 billion.

• The Group completed a change in control, with Ant Group Co., Ltd. now holding 50.63% ownership.

Financial highlights

• Brokerage commission income from securities rose 29.2% year-over-year, while futures and commodities brokerage fell 27.0%.

• Interest income from margin financing decreased 5.1% despite a 25.8% increase in average daily margin borrowing.

• Operating expenses dropped 14.9% to HK$581.0 million, boosting net profit margin to 66.5%.

• Finance costs decreased 27.8% to HK$154.1 million.

• No final dividend was declared for the year.

Outlook and guidance

• New management plans to invest in technology and compliance, aiming for operational upgrades and enhanced customer experience.

• The Hong Kong IPO market is expected to remain active, with continued growth in business and service quality anticipated.