Bright Smart officially acquired by ANT GROUP, major board reshuffle, Ye Maolin and others resign, ANT GROUP's overseas wealth management head joins the board

Bright Smart (1428) announced that ANT GROUP has completed the acquisition of 50.55% of shares from Chairman Ye Maolin, officially taking control of Bright Smart. The new board of directors of Bright Smart was established on the same day, with the exception of CEO Xu Yibin, all directors including Ye Maolin have resigned, and Bright Smart has appointed several senior executives from the ANT system. It is reported that restructuring the board of directors after the completion of the acquisition is a common practice in the industry. ANT's closing price was HKD 12.65, down 4%, still 2.9 times higher than the acquisition price of HKD 3.28. All Directors Resign Except CEO Xu Yibin Bright Smart stated that Shanghai Yunjin, part of the ANT system, has completed the acquisition of 50.55% of shares, and this company is a shareholder of the internet financial platform ANT Wealth. Almost all members of the original board of directors of Bright Smart have resigned, including Chairman Ye Maolin and Chen Yongcheng, who have resigned as executive directors, while Yu Rengang, Situ Weixin, Ling Guohui, and Huang Tingting have resigned as independent non-executive directors, mainly due to the change in company control, and these directors wish to devote more time to other affairs. Four Executive and Non-Executive Directors Will Not Receive Compensation Bright Smart has also appointed Zheng Yanlan as an executive director, while Huang Hao, Liu Zheng, and Lin Zhiqiu have been appointed as non-executive directors, and Lin Yizhong, Jiang Guorong, Hong Changfu, and Zhang Qian have been appointed as independent non-executive directors. Among them, the four executive and non-executive directors will not receive any compensation. Zheng Yanlan Serves as Head of ANT Wealth's Overseas Business Preparation Team Zheng Yanlan is the head of the overseas business preparation team of ANT Wealth under ANT Technology, participating in and leading the establishment of ANT Wealth, and is the founding person responsible for Yu'e Bao and other diversified fund product lines. As for Huang Hao, he is a senior vice president of ANT GROUP and president of the Wealth Insurance Business Group; Liu Zheng is the current vice president and chief financial officer of ANT GROUP; Lin Zhiqiu is the vice president and head of the investment legal department of ANT GROUP. Related News: Bright Smart surged after ANT's acquisition approval, but its market value is still over HKD 100 billion lower than Futu. The current price carries high chasing risks, and analysts urge attention to the next catalyst. Maoji Bright Smart's stock price surged after selling, anticipating the third stock to change hands will explode, backed by a giant company with investment speculation space | Star Market Strategy