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News May 18, 2020 05:58 pm EqualOcean

Ant Financial plans to invest USD 73.5 million in Wave Money

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Sep 16, 2020 09:36 pm · Sina

Ant Group Seeks Technology Analyst to Cover IPO Reports

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Sep 16, 2020 09:25 pm · Sina

Ant Group Joins the Listing Committee Review

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Sep 9, 2020 11:44 pm ·

Ant Group Replies to CSRC: 'No Firms Like Us in Payment, Fintech'

On September 9, the Star Market released the second reply from Ant Group to the China Securities Regulatory Commission (CSRC) with regards to factors such as regulation, market competition, share-based payments and H shares disclosure.  In terms of the new and stricter regulations that place a protective upper-limit on the interest rates of private lending, Ant Group has stated that it will increase the compliance cost – but that it has no material effect on the company’s capacity for continuous operation.  Also, even though many companies are providing similar services in the digital payment field, such as Tencent WeChat Pay, Ant Group replied that there are actually no comparable firms in play, as the company targets merchants' services, which is different from business services. In the fintech domain, Ant Group has its own innovative way of cooperating with financial institutions, negotiating service provision and revenue-generating through shaping its own models. Taking into account its leading position in blockchain and cloud technology as well, Ant seems justified in seeing no comparable firms out there.  As for share-based payments to the Alibaba Group, Ant says it is part of the cooperation between both sides, instead of an extra incentive, and has no material effect.  Furthermore, according to Ant, the disparities between the disclosure in the prospectus on Shanghai’s Star Market and the one filed for Hong Kong Stock Exchange are present because of regulation and formal composition differences and have no "material discrepancy."

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Sep 8, 2020 02:10 am ·

Ant Group Replies to CSRC, Gets Closer to IPO

On September 7, Ant Group replied to an inquiry by China Securities Regulatory Commission (CSRC) as part of the former's IPO process, with some main concerns from the state answered by the Hangzhou-founded company. Here are two selected ones in regard to the industry competition. Despite their common origin, Ant Group and Alibaba are not under the same actual controller as Jack Ma controls Ant – with over 50% of the shares in total – but not the Alibaba Group. Also, the two companies focus on different domains. Therefore, they have a certain business independence. Furthermore, Ant states that the digital payment services it provides target merchants – which is different from other companies, such as Tencent’s WeChat Pay.  The dual-listing plan of Ant Group had fired up the entire market and would probably become the largest IPO ever in world history, and its process is indeed under the world's attention. Here is a look back. In early July, there was a rumor in the market that Ant was planning an IPO but this was rejected by the company. Two weeks later, on July 20, it officially announced the dual-listing plan on Hong Kong and Shanghai bourses and ignited the stock market as all Alibaba-related stocks shot upwards. In the following weeks, Ant received pre-listing tutoring from China International Capital Corporation (CICC) and China Securities Cooperation (CSC). Very soon, it released the prospectus on August 25, with the outstanding financial results first revealed and a statement produced that the outstanding shares would be over 10%.  On September 2, industry resources said that Ant was mulling over increasing the number of shares sold therein, with USD 30 million raised under the plan. Now, the company has released its replies on the first round of inquiries, only 13 days since it officially filed for the IPO.  Ant Group is going full steam ahead in its movement toward the listings in October.

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Sep 2, 2020 10:16 pm · Sina

India Bans 118 Mobile Apps from China

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Sep 11, 2020 02:59 am ·

Zking Insurance Raised CNY 5.64 Billion

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Sep 4, 2020 11:31 am · China Star Market

CITIC Securities Cedes JD.com Fintech Arm JDD's IPO

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Sep 4, 2020 01:18 am · Reuters

China Merchants Bank Prices its 5-year Green Bond

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