London Daily

Focus on the big picture.
Friday, Aug 01, 2025

Ant Group Exec Tells Workers Firm to Go Public as State Regulators Slam 'Insufficient' Data Sharing

Ant Group Exec Tells Workers Firm to Go Public as State Regulators Slam 'Insufficient' Data Sharing

An internal post from a top executive responded to concerns from an employee over the company's future and talent retention strategy, and comes after major challenges following the suspension of a historic public listing in November last year.

Ant Group has promised to go public to help employees monetise shares, company chairman Eric Jing said in an internal website post as cited by the Wall Street Journal (WSJ) on Tuesday.

Jing said the company was reviewing its remuneration and incentive policies via a "short-term liquidity solution" set to go into force in April, the report read, citing people who had read the post.

Ant Group will likely buy back employee shares, the report read, citing the sources.

The news comes after the firm's operations were restructured as a financial holding company after its historic initial public offering (IPO) was halted due to concerns from Chinese regulators in November.

“The company will certainly become a public company. I’m always fully confident in that,” Jing wrote in the internal post, adding the firm would prioritise complying with Chinese authorities.

He added company founder Jack Ma had been in close talks with regulators over the restructuring plans, including corporate governance and others, according to people familiar with the post.

Ant will not be weakened by the rectification, but will chart a healthier and greater development path,” he reportedly said.

The IPO suspension had been a "major test and challenge" to staff, he added as cited by the WSJ.

“In the space of a second, the Ant team went from IPO preparation to major emergency response, calmly dealing with many unimaginable difficulties,” he added as quoted by the report.

Mr. Jing said the company will advance its development strategy as it restructures and makes adjustments to its business this year, and will provide more details in due course.

Chinese State Regulators Respond To Ant Group Row


But according to the Financial Times, the People's Bank of China (PBoC) found data provided by the fintech firm had been insufficient, citing people familiar with the matter.

The report added Chinese regulators saw a lack of detail in reports provided on the company's operations as well as the frequency of delivery, citing the sources.

The news comes amid a major crackdown on Chinese big tech firms, namely after Ant Group's historic $37bn IPO was halted in November last year by state authorities following the criticism Jack Ma voiced at an event in October the same period.

Tencent Holdings later vowed to cooperate with regulators following the Ant Group crackdown and amid soaring profits in the COVID-19 pandemic.

A top executive Zhang Feng was detained in February for an ongoing corruption probe involving data sharing with local authorities, the WSJ reported in February, citing people familiar with the matter.

Newsletter

Related Articles

0:00
0:00
Close
Trump Administration Finalizes Broad Tariff Increases on Global Trade Partners
J.K. Rowling Limits Public Engagements Citing Safety Fears
JD.com Launches €2.2 Billion Bid for German Electronics Retailer Ceconomy
Azerbaijan Proceeds with Plan to Legalise Casinos on Artificial Islands
Former Judge Charged After Drunk Driving Crash Kills Comedian in Brazil
Jeff Bezos hasn’t paid a dollar in taxes for decades. He makes billions and pays $0 in taxes, LEGALLY
China Increases Use of Exit Bans Amid Rising U.S. Tensions
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Procter & Gamble to Raise U.S. Prices to Offset One‑Billion‑Dollar Tariff Cost
House Republicans Move to Defund OECD Over Global Tax Dispute
Botswana Seeks Controlling Stake in De Beers as Anglo American Prepares Exit
Trump Administration Proposes Repeal of Obama‑Era Endangerment Finding, Dismantling Regulatory Basis for CO₂ Emissions Limits
France Opens Criminal Investigation into X Over Algorithm Manipulation Allegations
A family has been arrested in the UK for displaying the British flag
Mel Gibson refuses to work with Robert De Niro, saying, "Keep that woke clown away from me."
Trump Steamrolls EU in Landmark Trade Win: US–EU Trade Deal Imposes 15% Tariff on European Imports
ChatGPT CEO Sam Altman says people share personal info with ChatGPT but don’t know chats can be used as court evidence in legal cases.
The British propaganda channel BBC News lies again.
Deputy attorney general's second day of meeting with Ghislaine Maxwell has concluded
Controversial March in Switzerland Features Men Dressed in Nazi Uniforms
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
Thai Civilian Death Toll Rises to 12 in Cambodian Cross-Border Attacks
TSUNAMI: Trump Just Crossed the Rubicon—And There’s No Turning Back
Over 120 Criminal Cases Dismissed in Boston Amid Public Defender Shortage
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
Trump Announces $550 Billion Japanese Investment and New Trade Agreements with Indonesia and the Philippines
US Treasury Secretary Calls for Institutional Review of Federal Reserve Amid AI‑Driven Growth Expectations
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Severe Flooding in South Korea Claims Lives Amid Ongoing Rescue Operations
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
CEO Resigns Amid Controversy Over Relationship with HR Executive
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
US Revokes Visas of Brazilian Corrupted Judges Amid Fake Bolsonaro Investigation
U.S. Congress Approves Rescissions Act Cutting Federal Funding for NPR and PBS
North Korea Restricts Foreign Tourist Access to New Seaside Resort
Brazil's Supreme Court Imposes Radical Restrictions on Former President Bolsonaro
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Judge Criticizes DOJ Over Secrecy in Dropping Charges Against Gang Leader
Apple Closes $16.5 Billion Tax Dispute With Ireland
Von der Leyen Faces Setback Over €2 Trillion EU Budget Proposal
UK and Germany Collaborate on Global Military Equipment Sales
Trump Plans Over 10% Tariffs on African and Caribbean Nations
Flying Taxi CEO Reclaims Billionaire Status After Stock Surge
×