Ant Group

Chinese authorities abruptly halted Ant’s IPO in November 2020 and ordered a sweeping overhaul of its business model to comply with financial regulations

Ant Group profit down 19% to 7.87 billion yuan

The e-commerce giant reports profit from Ant one quarter in arrears

Ant Group fined $985 million by Chinese regulators in signal that tech crackdown may end

The People's Bank of China imposed the fine on Friday, stating that Ant had violated laws and regulations related to corporate governance, financial consumer protection, etc

China to end Ant Group's regulatory revamp with fine of at least $1.1 billion

The People's Bank of China (PBOC), which has been driving the revamp at Ant after its $37 billion IPO was scuttled in late 2020, is expected to disclose the fine in the coming days, the sources told Reuters.

Ant Group confirms it is working on own AI large language model

Chinese organisations have launched 79 large-language models (LLMs) dometically over the last three years, doubling down on efforts to develop artificial intelligence (AI) algorithms, state-run research institutes said last month in a report.

China expected to lower fine on Ant Group to about $700 million, sources say

The fine being considered now is about 5 billion yuan ($728 million), three people with knowledge of the matter said on condition of anonymity as the details are not yet public.

Alibaba affiliate Ant Group exits Paytm, sells entire stake: Reports

Ant Group’s nominee Douglas Feagin stepped down from Paytm’s board earlier this month

Ant Group nominee on Paytm board of directors resigns

Ant is an affiliate company of Chinese e-commerce giant Alibaba, which sold $125 million of shares in Paytm last month

Fidelity cuts Ant Group valuation by another 9% to $64 billion

Boston-based Fidelity cut its estimate for Ant by about 9% to about $63.8 billion as of the end of November from the end of May, according to Bloomberg calculations based on filings. That’s down from $235 billion just before Ant’s IPO was halted in November 2020.

From English teacher to billionaire: 7 points about Jack Ma

Jack Ma, who has been mostly out of public view amid China's tech crackdown, is back in news after relinquishing control of Alibaba affiliate Ant Group.

Billionaire Jack Ma gives up control of Ant Group

The change of control could mean that Ant will have to wait longer for a much anticipated resumption of its initial public offering

China set to fine Ant Group over $1 billion, signalling revamp nears end: Report

The People's Bank of China (PBOC), which has been driving the revamp at Ant after the Chinese firm's $37 billion IPO was scuttled at the last minute in 2020, is the regulator that is readying the fine, said five of the sources.

Jack Ma escapes Beijing’s crosshairs by giving up his power

In one sign of how skittish investors had been about the tycoon’s fate as recently as two months ago, Alibaba shares briefly lost $26 billion after a state media report that authorities had imposed curbs on a person surnamed Ma. Subsequent information made clear the report was referring to someone else.

Jack Ma plans to give up control of Ant Group by divesting stake in controlling entity: Report

Jack Ma holds 34 percent stake in Hangzhou Yunbo, the controlling entity, whereas, the remainder 66 percent is divided among Ant CEO Eric Jing, former chief executive Simon Hu and ex-non executive director Fang Jiang.

Ant Group says no plan to initiate IPO

After news of early stage discussions on a potential revival of Ant Group Co.’s initial public offering came earlier this day,the Ant Group revealed it has no plan to initiate an initial public offering via its WeChat account.

Jack Ma's speech costs Alibaba shareholders $344 billion: Reports

This is the biggest wipe out of shareholder value globally in big tech firms in past one year.

China says measures applied to Ant Group to be imposed on other payment firms

Chinese regulators, led by the central bank, in April imposed a sweeping restructuring on the fintech giant, forcing it to turn itself into a financial holding firm, and to cut links between its payments app Alipay and its other businesses.

Alibaba executive says founder Jack Ma lying low: Report

Following Ma's criticism of the Chinese regulatory system last year, Beijing came down heavily on the company, leading to the shelving of financial affiliate Ant Group's $37 billion initial public offering.

Jack Ma/Ant Group: a disruptor who is no longer good for business

Beijing’s unrelenting displeasure with the man behind Ant justifies a steep haircut to the valuation of $316bn mooted before the listing was suspended

China’s Ant explores ways for Jack Ma to exit as Beijing piles pressure

The high-stakes discussions come amid a revamp of Ant and a broader regulatory clampdown on China's technology sector that was set in motion after Ma's public criticism of regulators in a speech in October last year.

China extends crackdown on Jack Ma's empire with enforced revamp of Ant Group

The overhaul includes Ant turning itself into a financial holding firm, a move expected to curb its profitability and valuation by curtailing some of its freewheeling businesses.

Why China is putting its internet champions on the backfoot

China’s urge to dictate the fortunes of its technology giants is coinciding with a global backlash which is pushing them to seek listings closer to home.

China's Ant Group valued at over $200 billion after IPO halt: Report

Ant is changing its corporate structure to that of a financial holding firm following regulatory pressure to subject it to rules similar to those for banks.

China's Ant Group CEO Simon Hu resigns, Eric Jing to replace him

The exit of Hu also coincides with the Ant Group's plan to shift to a financial holding company structure following intense regulatory pressure.

Alibaba looking to sell off its music business, first move in scaling down

Alibaba had invested millions into the app in order to compete in China's massive music industry. However, these efforts had not paid off.