$BRIGHT SMART(01428)$ A financial holding company (FHC) is a type of bank holding company that meets specific regulatory requirements, allowing it to engage in a broader range of financial activities beyond traditional banking. These activities can include securities dealing, insurance underwriting, and merchant banking. To qualify as an FHC, a company must ensure that all its depository institutions are well-capitalized and well-managed, and it must file a declaration to become an FHC with the appropriate regulatory authority .  Ant Group, the financial technology affiliate of Alibaba Group, has been restructuring its operations to align with regulatory expectations, including applying for a financial holding company license in China. Thi