HK Stock Market Move | In the afternoon, BRIGHT SMART (01428) rose more than 8%. The Ant Group's acquisition has completed the equity delivery, with four executives joining the board.

BRIGHT SMART (01428) surged more than 8% in the afternoon, and as of the time of writing, it rose by 6.41%, closing at HKD 12.61, with a turnover of HKD 6.38 billion. On the news front, the acquisition of the Hong Kong-based established brokerage firm BRIGHT SMART by Ant Group has been completed. The company announced that Zheng Yanlan has been appointed as an executive director, while Huang Hao, Liu Zheng, and Lin Zhiqiu have been appointed as non-executive directors. Lin Yizhong, Jiang Guorong, Hong Changfu, and Zhang Qian have been appointed as independent non-executive directors. It is worth noting that Zheng Yanlan, Huang Hao, Liu Zheng, and Lin Zhiqiu are all from Ant Group, and they have all pledged not to receive any compensation from Bright Smart Securities for their director positions. Huayuan Securities pointed out that Bright Smart Securities' local client resources and financial licenses in Hong Kong, combined with Ant Group's technology and traffic advantages, are expected to create a differentiated competitive advantage in "Internet technology + wealth management". In the medium term, this may drive the digital transformation and technology investment of the entire wealth management industry. It is worth noting that on March 9th, BRIGHT SMART formally entered the Hong Kong Stock Connect list.