Bright Smart Securities & Commodities Group Limited — M&A Activity 2025

Dec 31, 2025

Public Disclosure Form

SECURITIES AND

FUTURES COMMISSION

證券及期貨事務監察委員會

31 December 2025

Possible mandatory general offer

Disclosure of dealings in the shares of Bright Smart Securities & Commodities Group Limited

The Executive received the following disclosure of securities dealings pursuant to Rule 22 of the Hong Kong Code on Takeovers and Mergers:

Party	Date	Description of relevant securities	Description of products	Nature of dealings	Number of reference securities to which the derivatives relate	Maturity date / closing out date	Reference price	Total amount paid / received	Resultant balance (including those of any person with whom there is an agreement or understanding)
Morgan Stanley & Co., International plc	30 December 2025	Derivatives	Other types of products	Unsolicited client facilitation - Purchase	2,000	28 June 2030	$8.0300	$16,060.0000	0
		Derivatives	Other types of products	Unsolicited client facilitation - Purchase	10,000	20 June 2030	$8.0794	$80,794.0000	0
		Derivatives	Other types of products	Unsolicited client facilitation - Sale	14,000	30 October 2026	$8.1147	$113,605.8000	0
		Derivatives	Other types of products	Unsolicited client facilitation - Purchase	20,000	28 June 2030	$8.0606	$161,212.0000	0

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SFC 證監會

Public Disclosure Form

		Derivatives	Other types of products	Unsolicited client facilitation - Sale	316,000	30 November 2027	$8.0817	$2,553,807.5999	0
		Derivatives	Other types of products	Unsolicited client facilitation - Sale	318,000	30 November 2027	$8.0810	$2,569,750.1486	0

End

Note:
Morgan Stanley & Co., International plc is a Class (5) associate connected with the Offeror.
Dealings were made for its own account.
Morgan Stanley & Co., International plc is ultimately owned by Morgan Stanley.