Core Viewpoint - The stock of Yao Cai Securities surged over 30% following the approval of Ant Group's acquisition offer by the Hong Kong Securities and Futures Commission, with ongoing communication with the National Development and Reform Commission [1][4][5]. Group 1: Acquisition Approval - Ant Group's acquisition offer for Yao Cai Securities received approval from the Hong Kong Securities and Futures Commission, valid for six months, requiring completion of conditions within this period or written consent for extension [4][5]. - The acquisition process is progressing as planned, with the offeror actively communicating with the National Development and Reform Commission [5]. Group 2: Market Activity - Yao Cai Securities' stock price reached a high of 11.83 HKD per share, reflecting a significant increase in trading activity [3]. - Morgan Stanley & Co., International plc purchased a net of 54,000 shares on October 8, 2025, and an additional 28,000 shares on September 29, 2025, indicating strong institutional interest [6][7]. Group 3: Company Overview - Yao Cai Securities holds multiple licenses in Hong Kong, covering various financial services, with a total customer base of 579,000 and an average customer asset size of 104,200 HKD, significantly lower than competitors [7]. - The core business of Yao Cai Securities is primarily brokerage and margin financing, accounting for approximately 85.1% of its operations [7]. - The collaboration with Ant Group is expected to enhance Yao Cai Securities' digital transformation and service capabilities, leveraging Ant Group's financial technology [7].

Core Viewpoint - The significant stock price surge of Yao Cai Securities Financial (01428.HK) is primarily driven by the approval of Ant Group's acquisition, which is expected to enhance the company's market position and accelerate its digital transformation [5][7][8]. Group 1: Stock Performance - As of the latest report, Yao Cai Securities Financial's stock price increased by 36.12%, reaching HKD 11.87 per share, placing it among the top gainers in the Hong Kong stock market [2]. - The trading volume surged to 147 million shares, with a total transaction value of HKD 1.567 billion, resulting in a turnover rate of 8.67% [4]. Group 2: Acquisition Details - Ant Group's acquisition offer for Yao Cai Securities was approved by the Hong Kong Securities and Futures Commission, with the approval valid for six months, requiring completion of the acquisition process within this timeframe or obtaining written consent for an extension [7]. - The acquisition aims to solidify Yao Cai Securities' position as a leading retail brokerage in Hong Kong and leverage Ant Group's technological capabilities to enhance customer experience and drive business growth [8]. Group 3: Future Prospects - Yao Cai Securities has indicated that the acquisition is contingent upon the fulfillment of various regulatory approvals, suggesting that the deal may or may not proceed [8].

Core Viewpoint - Yao Cai Securities Financial (01428) experienced a significant stock price increase of over 30%, currently trading at HKD 11.28 with a transaction volume of HKD 767 million, following the announcement of regulatory approvals related to a major acquisition [1] Group 1: Regulatory Approvals - On October 10, Yao Cai Securities Financial announced that the Hong Kong Securities and Futures Commission approved the offerors and related parties to become major shareholders of the regulated group companies [1] - The approval is valid for six months from the date of approval or a longer period with written consent from the commission [1] Group 2: Acquisition Progress - The offerors have submitted application materials to the National Development and Reform Commission of China and are actively communicating with them regarding the acquisition process [1] - The acquisition involves Ant Group's wholly-owned subsidiary, Shanghai Yun Jin, planning to acquire 50.55% of the company's shares at a price of HKD 3.28 per share, totaling approximately HKD 28.14 billion [1]

智通财经APP获悉，耀才证券金融(01428)拉升超30%，截至发稿，涨29.24%，报11.28港元，成交额7.67 亿港元。 耀才表示，就完成条件(c)而言，要约人已向中国国家发展和改革委员会提交申报材料，并一直积极与 其进行沟通。与国家发改委就收购事项的相关流程正按计划推进中。要约人及公司将继续推进完成条件 的达成。此前4月25日，耀才证券宣布，蚂蚁集团全资子公司上海云进计划以3.28港元/股的价格，收购 耀才证券控股股东新长明控股持有的50.55%公司股份，总对价约为28.14亿港元。 消息面上，10月10日晚，耀才证券金融发布公告称，公司及要约人谨此向公司的股东及潜在投资者提供 最新情况，于今年9月23日，要约人已根据《证券及期货条例》第132(1)条获香港证监会批准各要约人 及其他相关人士成为受规管集团公司（即耀才期货及商品有限公司、耀才证券国际（香港）有限公司、 耀才资产管理有限公司及耀才环球外汇有限公司）的主要股东。该批准将持续有效，惟完成须于该批准 日期后六个月内或于获证监会书面同意之较长期间内落实。因此，完成条件(b)已经达成。 ...

每经AI快讯，10月13日，港股耀才证券金融涨幅扩大至20%。 ...

Core Insights - The top three companies with the highest short positions as of October 3 are COSCO Shipping Holdings (01919), Ganfeng Lithium (01772), and ZTE Corporation (00763), with short ratios of 15.66%, 15.25%, and 15.16% respectively [1][2] - Ganfeng Lithium (01772) saw the largest absolute increase in short positions, rising by 1.20%, followed by Minmetals Resources (01208) with an increase of 0.96%, and Yuexiu Transport Infrastructure (01052) with an increase of 0.76% [1][2] - The companies with the largest decreases in short positions include GCL-Poly Energy (03800), which decreased by 3.16%, followed by Dongfang Electric (01072) with a decrease of 2.03%, and Jinxin Fertility (01951) with a decrease of 0.76% [1][3] Summary of Short Positions - **Top 10 Companies by Short Ratio** - COSCO Shipping Holdings (01919): 15.66% (from 437 million shares to 451 million shares) - Ganfeng Lithium (01772): 15.25% (from 62.30 million shares to 67.64 million shares) - ZTE Corporation (00763): 15.16% (from 113 million shares to 115 million shares) - CATL (03750): 13.83% (from 21.12 million shares to 21.57 million shares) - Vanke (02202): 12.63% (from 268 million shares to 279 million shares) - Ping An Insurance (02318): 12.59% (from 959 million shares to 938 million shares) - Zijin Mining (02899): 12.58% (from 750 million shares to 754 million shares) - MicroPort Medical (00853): 11.10% (from 213 million shares to 212 million shares) - Hansoh Pharmaceutical (01276): 11.01% (from 28.01 million shares to 28.43 million shares) - Fuyao Glass (06865): 10.85% (from 49.22 million shares to 47.94 million shares) [2] - **Top 10 Companies with Increased Short Positions** - Ganfeng Lithium (01772): Increased by 1.20% (from 14.05% to 15.25%) - Minmetals Resources (01208): Increased by 0.96% (from 1.96% to 2.93%) - Yuexiu Transport Infrastructure (01052): Increased by 0.76% (from 1.08% to 1.84%) - Jinli Permanent Magnet (06680): Increased by 0.66% (from 7.76% to 8.42%) - China Civil Aviation Information Network (00696): Increased by 0.58% (from 6.63% to 7.21%) [2] - **Top 10 Companies with Decreased Short Positions** - GCL-Poly Energy (03800): Decreased by 3.16% (from 11.76% to 8.59%) - Dongfang Electric (01072): Decreased by 2.03% (from 6.78% to 4.75%) - Jinxin Fertility (01951): Decreased by 0.76% (from 10.61% to 9.85%) - Yangtze Optical Fibre and Cable (06869): Decreased by 0.75% (from 7.03% to 6.28%) - Shanghai Electric (02727): Decreased by 0.72% (from 2.25% to 1.52%) [3][4]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或 因倚賴該等內容而引致之任何損失承擔任何責任。 本公告僅供參考，並不構成收購、購買或認購本公司證券的邀請或要約。 本公告的全部或部份內容不會在違反任何司法權區的相關法律或法規的情況下於或向該司 法權區發佈、刊發或派發。 WEALTHINESS AND PROSPERITY HOLDING LIMITED BRIGHT SMART SECURITIES & COMMODITIES GROUP LIMITED （於開曼群島註冊成立之有限公司） 耀才證券金融集團有限公司 （股份代號：1428） （於開曼群島註冊成立之有限公司） 聯合公告 有關 摩根士丹利亞洲有限公司代表要約人提出有關本公司全部已發行 股份（要約人及要約人一致行動人士已擁有或同意將予收購的股份 除外）的潛在無條件強制性現金要約的 每月更新公告 要約人的獨家財務顧問 茲提述：(i)要約人及本公司於二零二五年四月二十五日刊發的聯合公告，其中 內容包括購股協議及要約（「該公告」）；(ii)要約人及 ...

2025 年 10 月 10 日 完 交易披露 註： 可能強制全面要約 就耀才證券金融集團有限公司的股份的交易披露 執行人員接獲依據香港《公司收購及合併守則》規則 22 作出以下的證券交易的披露： | 交易方 | 日期 | 有關證券的說 | 產品說明 | 交易性質 | 與衍生工具有 | 到期日或清結 | 參考價 | 已支付／已收 | 交易後數額（包 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 明 | 關的參照證券 | 日 | 取的總金額 | 括與其訂有協議 | | | | | | | | | | | | | | | 數目 | 或達成諒解的任 | | | | | | | | | | | | | | | | | | 何人士的證券） | | | | | | | | | | | | | | | | | | | 2025 | 年 | 10 | 月 | 9 | 衍生工具 | 其他類別產品 | 客戶主動利便客戶 ...

2025 年 10 月 10 日 註： Morgan Stanley & Co., International plc 是與要約人有關連的第(5)類別聯繫人。 交易是為本身帳戶進行的。 交易披露 Morgan Stanley & Co., International plc 是最終由摩根士丹利擁有的公司。 交易披露 可能強制全面要約 就耀才證券金融集團有限公司的股份的交易披露 執行人員接獲依據香港《公司收購及合併守則》規則 22 作出以下的證券交易的披露： | 交易方 | 日期 | | | | 有關證券的說 | 產品說明 | 交易性質 | 與衍生工具有 | | | 到期日或清結 | 參考價 | | 已支付／已收 | 交易後數額（包 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | 明 | | | 關的參照證券 | | 日 | | | | 取的總金額 | 括與其訂有協議 | | | | | | | | | | | 數目 | ...

完 註： Morgan Stanley & Co., International plc 是與要約人有關連的第(5)類別聯繫人。 交易是為本身帳戶進行的。 2025 年 10 月 10 日 可能強制全面要約 就耀才證券金融集團有限公司的股份的交易披露 執行人員接獲依據香港《公司收購及合併守則》規則 22 作出以下的證券交易的披露： | 交易方 | 日期 | 有關證券的說 | 交易性質 | 買入／賣出 | 涉及的股份 | 已支付／已收 | 已支付或已 | 已支付或已 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 明 | | | 總數 | 取的總金額 | 收取的最高 | 收取的最低 | | | | | | | | | 價（H） | 價（L） | | Morgan | 2025年10月9 | 普通股 | 因全屬客戶主動發出且由客戶需求帶動的買賣 | 買入 | 24,000 | $216,960.0000 | $9.0400 | $9.0400 | | Stanley & | 日 | | 盤所產生的 Delta 1 產品的對沖活動 | ...