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Bright Smart Securities & Commodities Group Limited
(1428)
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Rating:54Neutral
Price Target:
HK$7.50
▼(-11.76% Downside)
Action:Reiterated
Date:07/22/26
The score is held back primarily by weak technicals (broad downtrend with negative momentum) and material cash-flow volatility with recent negative OCF/FCF despite strong reported profitability. A mid-range P/E (16) and a strong income statement (revenue rebound and high margins) provide partial offset, but leverage and cash-conversion risk keep the overall assessment moderate.
Positive Factors
Strong revenue rebound
The FY2026 revenue rebound indicates renewed activity across the brokerage and related financial-services franchise. If sustained, stronger client trading and financing demand can improve operating leverage, support earnings resilience, and reinforce the group’s market position over the coming quarters.
Negative Factors
Elevated leverage
Meaningfully elevated leverage increases sensitivity to funding conditions, market stress, and changes in the value or liquidity of assets supporting the business. It can also restrict financial flexibility, making it harder to absorb weaker brokerage activity or pursue growth while maintaining capital strength.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue rebound
The FY2026 revenue rebound indicates renewed activity across the brokerage and related financial-services franchise. If sustained, stronger client trading and financing demand can improve operating leverage, support earnings resilience, and reinforce the group’s market position over the coming quarters.
Read all positive factors
Bright Smart Securities & Commodities Group Limited (1428) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$12.30B
Dividend Yield22.3%
Average Volume (3M)9.55M
Price to Earnings (P/E)18.8
Beta (1Y)1.59
Revenue Growth-1.70%
EPS Growth8.52%
CountryHK
Employees188
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)0.39
Shares Outstanding1,697,296,300
10 Day Avg. Volume6,146,731
30 Day Avg. Volume9,553,918
Financial Highlights & Ratios
PEG Ratio3.59
Price to Book (P/B)9.13
Price to Sales (P/S)14.84
P/FCF Ratio-48.73
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.41
Revenue Forecast (FY)HK$1.22B
Bright Smart Securities & Commodities Group Limited Business Overview & Revenue Model
Company Description
Bright Smart Securities & Commodities Group Limited, an investment holding enterprise established in 1995 and headquartered in Central, Hong Kong, delivers a diverse range of financial services. Its operations are organized into three primary divi...
How the Company Makes Money
Bright Smart Securities & Commodities Group Limited makes money primarily through fees, commissions, and interest income generated from its brokerage and related financial services operations. Key revenue streams generally include: (1) Brokerage c...
Bright Smart Securities & Commodities Group Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
56
Neutral
Cash Flow
34
Negative
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.34B | 972.32M | 981.18M | 1.20B | 1.27B |
| Gross Profit | 1.14B | 855.28M | 840.50M | 1.03B | 1.08B |
| EBITDA | 955.84M | 950.17M | 932.12M | 878.76M | 857.17M |
| Net Income | 670.25M | 617.63M | 558.84M | 620.60M | 561.50M |
Balance Sheet | |||||
| Total Assets | 9.59B | 7.69B | 7.08B | 7.73B | 9.77B |
| Cash, Cash Equivalents and Short-Term Investments | 516.04M | 478.05M | 441.27M | 571.49M | 574.29M |
| Total Debt | 4.93B | 4.42B | 3.87B | 4.47B | 5.27B |
| Total Liabilities | 7.41B | 6.19B | 5.63B | 5.99B | 7.30B |
| Stockholders Equity | 2.17B | 1.50B | 1.44B | 1.73B | 2.47B |
Cash Flow | |||||
| Free Cash Flow | -406.84M | -165.57M | 1.40B | 2.17B | 6.65B |
| Operating Cash Flow | -401.45M | -159.20M | 1.41B | 2.19B | 6.66B |
| Investing Cash Flow | -4.96M | 420.65M | 337.82M | -32.29M | -14.09M |
| Financing Cash Flow | 417.53M | -229.75M | -1.80B | -2.16B | -6.56B |
Bright Smart Securities & Commodities Group Limited Technical Analysis
Negative
8.50
Price Trends
7.03
Positive
8.52
Negative
8.82
Negative
Market Momentum
0.06
Positive
49.01
Neutral
10.30
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1428, the sentiment is Negative. The current price of 8.5 is above the 20-day moving average (MA) of 7.35, above the 50-day MA of 7.03, and below the 200-day MA of 8.82, indicating a neutral trend. The MACD of 0.06 indicates Positive momentum. The RSI at 49.01 is Neutral, neither overbought nor oversold. The STOCH value of 10.30 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1428.
Bright Smart Securities & Commodities Group Limited Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | HK$174.55B | 8.96 | 13.66% | 4.69% | 97.85% | 74.02% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
60 Neutral | HK$18.58B | 31.19 | 4.24% | 2.23% | 35.39% | 111.33% | |
60 Neutral | HK$55.78B | 22.09 | 4.37% | 1.77% | 42.86% | 30.93% | |
59 Neutral | HK$27.44B | 18.70 | 9.18% | 2.43% | 43.49% | 109.36% | |
54 Neutral | HK$12.30B | 18.78 | 33.51% | 22.30% | -1.70% | 8.52% | |
49 Neutral | HK$1.48B | 12.28 | 4.36% | 4.04% | 200.24% | ― |
* Financial Sector Average
HK:1428
Bright Smart Securities & Commodities Group Limited
7.33
-4.62
-38.70%
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2.89
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0.96
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Central China Securities Co., Ltd. Class H
1.76
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-37.85%
HK:1456
Guolian Securities Co., Ltd. Class H
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-2.50
-39.12%
Bright Smart Securities & Commodities Group Limited Corporate Events
Bright Smart Securities Ends Connected Tenancy Deals Linked to Former Chairman
Aug 31, 2026
Bright Smart Securities Commodities Group Limited has terminated several connected tenancy agreements involving properties and car parking spaces leased from entities wholly owned by former chairman Mr. Yip, effective 31 August 2026. The surrende...
Bright Smart AGM Backs All Resolutions and Board Slate
Aug 28, 2026
Bright Smart Securities Commodities Group Limited reported the poll results of its annual general meeting held on 28 August 2026, where all resolutions were duly passed by shareholders. The meeting confirmed the receipt and consideration of the a...
Bright Smart Sets Out Board Composition and Governance Committee Roles
Aug 28, 2026
Bright Smart Securities Commodities Group Limited has announced the current composition of its board of directors, detailing executive, non-executive, and independent non-executive roles. The board is led by Chairman Huang Hao, with Zheng Yanlan ...
Bright Smart Securities Updates AGM Agenda With Board Changes
Jul 30, 2026
Bright Smart Securities Commodities Group Limited has issued a supplemental notice confirming that its annual general meeting will proceed as scheduled in Hong Kong on 28 August 2026. The meeting will be held at the Renaissance Harbour View Hotel...
Bright Smart revamps board as independent director retires and seasoned executive nominated
Jul 30, 2026
Bright Smart Securities Commodities Group Limited has announced that independent non-executive director Lyn Frank Yee Chon will retire from the board following the upcoming annual general meeting, choosing not to stand for re-election so he can d...
Bright Smart Securities Sets 2026 AGM to Approve Governance and Share Issuance Mandates
Jul 17, 2026
Bright Smart Securities Commodities Group Limited has called its annual general meeting for 28 August 2026 in Hong Kong, where shareholders will review the audited consolidated financial statements, directors’ report and independent auditor...
Bright Smart Securities & Commodities Group Lifts Annual Profit on Stable Revenue
Jun 24, 2026
Bright Smart Securities Commodities Group reported revenue of HK$1.01 billion for the year ended 31 March 2026, slightly above the prior year, supported by interest income and other operating gains. The group maintained tight control of staff and...
Bright Smart Sets Board Meeting to Approve 2025/26 Annual Results
Jun 11, 2026
Bright Smart Securities Commodities Group Limited has scheduled a board meeting for 24 June 2026 to consider and approve the final results for the financial year ended 31 March 2026. The announcement signals an upcoming disclosure of the group...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.