top of page

Jack Ma is no longer the actual controller of Ant Group





On January 7, Ant Group announced on its official website that it would adopt upgrading measures at the board of directors and shareholder levels. The measures included introducing a fifth independent director, structural adjustment of the boarding member, and promoting matching shareholder voting rights with economic interests, etc.


According to the announcement, Jack Ma's share voting rights have been adjusted from 53.46% to 6.208%. Jack Ma is no longer the actual controller of Ant Group, but his economic interests in Ant Group have not changed.


Ant Group started from Alipay, which was born in 2004. "Derived from an original intention to solve trust problems for the society, after eighteen years of development, Ant Group has become the world's leading open Internet platform."


Ant Group has focused on sustainable development and serving the real economy in the past two years. It has continued to invest in digital inclusiveness, green and low-carbon, technological innovation, and open ecology.


Alipay responded to the call for fee reduction and profit sharing and has reduced fees for small and micro businesses. It has launched over 80 digital solutions for industries, serving nearly 10,000 companies in finance, new energy, copyright technology, and cross-border trade; the MYbank initiated by Ant Group, the cumulative number of small and micro operators served exceeds 49 million.


According to Ant Group's official information, the current board members include the following:

  • Jing Xiandong (chairman).

  • Ni Xingjun (executive director).

  • Cai Chongxin (non-executive director).

  • Cheng Li (non-executive director).

The other four independent directors are Hao Quan, Huang Yiping, Yang Xiaolei, and Shi Meilun.


Ant Group emphasized that after such an adjustment, the major shareholders of Ant Group will independently exercise their voting rights in Ant Group shares held by each other and have no concerted action relationship.


"There is no longer any direct or indirect shareholder single or joint control of Ant Group." All these actions and measures also symbolize that Ant Group has already entered an era of post-Jack Ma.


 

Disclaimer: All the information on this website is provided on an “as is” and “as available” basis, and you agree to use such information entirely at your own risk. Monisight gives no warranty and accepts no responsibility or liability for the accuracy or completeness of the information and materials contained in this website.


Under no circumstances will Monisight be held responsible or liable in any way for any claims, damages, losses, expenses, costs, or liabilities whatsoever (including, without limitation, any direct or indirect damages for loss of profits, business interruption, or loss of information) resulting or arising directly or indirectly from your use of or inability to use this website or any websites linked to it, or from your reliance on the information and material on this website, even if the Monisight has been advised of the possibility of such damages in advance.

13 views0 comments

Comments

Rated 0 out of 5 stars.
No ratings yet

Add a rating
bottom of page