【Ant掌1428】Ant completes acquisition of 50.55% stake in YoCai Securities; Board reshuffle: Ye Maolin resigns as Executive Director

Ant Group completes acquisition of Yuanda Securities Finance (01428)! Listed broker Yuanda Securities (01428) in Hong Kong announced that Ant Wealth successfully acquired 50.55% of the company’s equity for HK$2.814 billion. Previously, all necessary regulatory approvals and delivery-related conditions precedent had been satisfied.

Under Ant Holdings, Shanghai Yunjin Information Technology Co., Ltd. acquired 50.55% of Yuanda Securities’ shares last April at a price of HK$3.28 per share. The offer price represents a premium of approximately 17.6% over the closing price of HK$2.79 per share reported on the Hong Kong Stock Exchange on April 22, 2025.

Shanghai Yunjin is also a shareholder of Ant Wealth, an internet wealth management platform. After the completion of the acquisition, the company’s board composition will see a major reshuffle. Executive Directors Ye Maolin and Chen Yongcheng have submitted their resignations; Independent Non-Executive Directors Yu Yinggang, Situi Weixin, Ling Guohui, and Huang Tingting have also submitted their resignations, leaving only Xu Yibin to remain as a Director.

At the same time, Zheng Yanlan, Head of the Preparatory Team for Ant Wealth’s overseas business, has been appointed as an Executive Director; Ant Group’s senior vice president and president of the wealth insurance business group, Huang Hao; Ant Group’s vice president and Chief Financial Officer, Liu Zheng; and Ant Group’s vice president and head of investment legal affairs, Lin Zhiqiu, have been appointed as Non-Executive Directors.

In addition, Lin Yizhong, Jiang Guorong, Hong Changfu, and Zhang Qian have been appointed as Independent Non-Executive Directors. All personnel appointments will take effect shortly. It is understood that after the controlling shareholder’s acquisition is completed, restructuring the board of directors in line with industry-standard practice will be implemented.

The company expects to mail the composite document to shareholders on April 8.

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