Bright Smart Securities & Commodities Group (1428) Q4 2025 earnings summary

Executive summary

• Revenue increased by 7.0% year-over-year to HK$972.3 million, driven by strong securities brokerage and handling fee income.

• Net profit after tax rose 10.6% to HK$617.6 million, with EPS at 36.39 HK cents, up from 32.93 HK cents.

• No final dividend was proposed for the year, compared to 33.0 cents per share in the prior year.

• Total client accounts grew 4.4% to 587,072, and client assets increased 27.9% to HK$64.2 billion.

Financial highlights

• Operating profit reached HK$891.1 million, up from HK$864.9 million year-over-year.

• Net profit margin improved to 63.5% from 61.5% in the prior year.

• Staff costs rose 15.4% to HK$160.8 million; finance costs fell 17.8% to HK$213.6 million.

• Cash and cash equivalents stood at HK$476.6 million; bank borrowings increased to HK$4,370.0 million.

Outlook and guidance

• Management expects continued volatility due to global trade tensions and U.S. tariff policies.

• Optimism remains for Hong Kong’s recovery, supported by Mainland China’s economic measures and capital market reforms.

• The Group will focus on digitalization, expanding global product offerings, and enhancing client experience.