Core Viewpoint - The stock price of Yao Cai Securities experienced significant volatility due to the acquisition proposal from Ant Group, with a maximum drop of over 13% before closing down 5.28% [2]. Group 1: Acquisition Details - Ant Group initiated a takeover bid for Yao Cai Securities on April 25, offering HKD 3.28 per share for approximately 858 million shares, totaling HKD 28.14 billion, which represents about 50.55% of the total issued shares [3]. - The acquisition has received approval from the Hong Kong Securities and Futures Commission, but it still requires approval from the National Development and Reform Commission [3]. - On November 11, Yao Cai Securities announced that Ant Group is considering extending the final deadline for the acquisition [5]. Group 2: Financial Performance - Yao Cai Securities reported total revenues of HKD 10.14 billion, HKD 10.50 billion, and HKD 11.21 billion for the fiscal years 2022 to 2024, with year-on-year changes of -19.96%, -4.05%, and 3.09% respectively [8]. - The net profit attributable to the parent company for the same period was HKD 4.55 billion, HKD 5.43 billion, and HKD 5.06 billion, with year-on-year changes of -20.23%, 10.53%, and -9.95% respectively [8]. Group 3: Company Background - Yao Cai Securities was founded in 1995 by Ye Maolin and offers services including Hong Kong stock trading, margin financing, securities custody, futures and options trading, leveraged forex trading, and spot gold and silver trading [8]. - The company is known for its low commission rates, having significantly reduced its commission from 0.25% to 0.05% after the government abolished the minimum commission system in 2003 [8].
收购案起“波折” 蚂蚁集团或延期收购耀才证券