Beautiful Virgin Islands

Monday, Jun 23, 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

Beautiful Virgin Islands
0:00
0:00
Close
Starmer Invites Innovators to Join Government Talent Scheme
UK Economy’s Strong Opening Quarter Shows Signs of Cooling
Harrods Seeks Court Order to Secure Al Fayed Estate for Victims
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
BBC Demands Perplexity AI Immediately Stop Using Its Content
Telegram Founder: I Will Leave My Fortune to Over 100 of My Children
Political Turmoil Resurfaces in Belgium Amid Economic Concerns
Fed policymakers divided on timing of interest rate cuts
Trump signals imminent agreement with Harvard University
Inheritance tax referendum alarms Swiss billionaire community
Japan cancels bilateral security meeting amid US defence demands
AI skeptic Emily Bender warns that ‘the emperor has no clothes’
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
Plans to Sell Dutch Embassy in Bangkok Face Local Opposition
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump's $5 Million 'Trump Card' Visa Program Draws Nearly 70,000 Applicants
DGCA Finds No Major Safety Concerns in Air India's Boeing 787 Fleet
Airlines Reroute Flights Amid Expanding Middle East Conflict Zones
Elon Musk's xAI Seeks $9.3 Billion in Funding Amid AI Expansion
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Taiwan Imposes Export Ban on Chips to Huawei and SMIC
Israel has just announced plans to strike Tehran again, and in response, Trump has urged people to evacuate
Netanyahu Signals Potential Regime Change in Iran
Juncker Criticizes EU Inaction on Trump Tariffs
EU Proposes Ban on New Russian Gas Contracts
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
UK Home Secretary Apologizes Over Child Grooming Failures
×