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Hong Kong retail securities brokerage known for stock trading, margin financing and popular IPO subscription financing services.
Hong Kong retail securities brokerage known for stock trading, margin financing and popular IPO subscription financing services.
Earns brokerage commissions on client trades, interest on margin loans to clients, and fees and interest on IPO subscription loans, which let investors borrow to apply for new shares. Income therefore swings with Hong Kong trading turnover and the number of new listings. It also executes futures and commodities trades for clients.
In one line: A Hong Kong retail brokerage, like a smaller Interactive Brokers for HK retail investors.
Moat: narrow (brand, distribution). Well-known retail brand in Hong Kong, especially for IPO subscription financing, in a competitive brokerage market.
Headquarters: Hong Kong · Founded: 1993 · Employees: 188
Size Bright Smart Securities & Commodities (1428.HK) is a Hong Kong Financials company (Investment Banks/Brokers) with a market value of $1.28B, the 535th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$5.93 on 6 Nov 2026.
Performance Over six months the shares fell 51.1%, against -7.8% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 3rd lowest of 21 in its peer set.
Growth Revenue fell 1.7% over the last twelve months (peer median +16.0%); the operating margin is 67.5% (peer median 28.2%).
Valuation It trades at 14.9× forward earnings against a peer median of 12.2× (3rd most expensive of 11).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$1.34B | HK$1.34B | HK$1.36B | HK$1.25B | HK$1.20B |
| Revenue growth | — | -2% | +9% | +4% | — |
| Gross profit | HK$1.21B | HK$1.20B | HK$1.21B | HK$1.11B | HK$1.03B |
| EBITDA | HK$956M | HK$956M | HK$949M | HK$932M | HK$879M |
| Net income | HK$670M | HK$670M | HK$618M | HK$559M | HK$621M |
| Free cash flow | -HK$407M | -HK$407M | -HK$41.2M | HK$1.48B | HK$2.17B |
| Capital expenditure | HK$5.38M | HK$5.38M | HK$6.37M | HK$1.91M | HK$15.3M |
| Total debt | n/a | HK$4.93B | HK$4.42B | HK$3.87B | HK$4.47B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Bright Smart Securities & Commodities 1428.HK | $1.28B | -51% | -2% | 67% | 14.9× | n/a |
| Futu Holdings Ltd. Sponsored ADR FUTU | $13.7B | -32% | +44% | 69% | 6.8× | n/a |
| UP Fintech Holding Ltd. Sponsored ADR TIGR | $710M | -40% | +41% | 44% | 4.9× | n/a |
| Guotai Junan International 1788.HK | $3.58B | +10% | +43% | 65% | n/a | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 1428.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -11.9% | -5.5% | 6th lowest of 21 |
| 6-month return | -51.1% | -7.8% | 3rd lowest of 21 |
| Distance from 52-week high | -64.8% | -25.3% | 3rd lowest of 21 |
| Revenue growth (TTM) | -1.7% | +16.0% | 4th lowest of 21 |
| Operating margin | 67.5% | 28.2% | 5th highest of 21 |
| Forward P/E | 14.9× | 12.2× | 3rd most expensive of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Bright Smart Securities & Commodities 1428.HK | Hong Kong | $1.28B | -51% | -2% | 67% | 14.9× | n/a | n/a |
| Nihon M&A Center 2127.T | Japan | $1.28B | -7% | +5% | 36% | 14.1× | n/a | n/a |
| JSW JSWHL.NS | India | $1.29B | -16% | +55% | 94% | n/a | n/a | n/a |
| Edelweiss Financial Services EDELWEISS.NS | India | $1.28B | +6% | +16% | 11% | n/a | n/a | n/a |
| Okasan Securities 8609.T | Japan | $1.33B | +5% | +36% | 29% | n/a | n/a | n/a |
| Ruida Futures 002961.SZ | China | $1.22B | -21% | -51% | 82% | 10.6× | n/a | n/a |
| OSL 0863.HK | Hong Kong | $1.19B | -20% | +12,274% | -2% | n/a | n/a | n/a |
| IIFL Capital Services IIFLCAPS.NS | India | $1.17B | 0% | +8% | 25% | n/a | n/a | n/a |
| Tokai Tokyo Financial 8616.T | Japan | $1.14B | +2% | +16% | 18% | 12.5× | n/a | n/a |
| JM Financial JMFINANCIL.NS | India | $1.13B | -22% | +1% | 32% | 8.0× | n/a | n/a |
| Flow Traders FLOW.AS | Netherlands | $1.13B | -20% | -4% | 43% | 7.2× | n/a | n/a |
| AMTD IDEA Group Sponsored ADR AMTD | United States | $1.50B | -52% | +14% | 27% | n/a | n/a | n/a |
| Gold.com GOLD | United States | $1.09B | -17% | +132% | 1% | 13.8× | n/a | n/a |
| Canaccord Genuity CF.TO | Canada | $1.08B | +17% | +32% | 12% | 11.0× | n/a | n/a |
| Yuanta Futures 6023.TWO | Taiwan | $1.07B | -9% | +10% | -22% | n/a | n/a | n/a |
| Gielda Papierow Wartosciowych w Warszawie GPW.WA | Poland | $1.04B | +19% | +22% | 34% | 16.3× | n/a | n/a |
| Indian Energy Exchange IEX.NS | India | $1.03B | -18% | +13% | 80% | 18.1× | n/a | n/a |
| Matsui Securities 8628.T | Japan | $1.61B | +7% | +47% | 47% | 11.9× | n/a | n/a |
| Japan Securities Finance 8511.T | Japan | $1.02B | -6% | +73% | 82% | n/a | n/a | n/a |
| GoFintech Quantum Innovation 0290.HK | Hong Kong | $1.62B | -82% | +108% | 26% | n/a | n/a | n/a |
| TOP Financial TOP | United States | $1.64B | +93% | -41% | -14% | n/a | n/a | n/a |