[Overseas News from Qiaobao.com] Since the beginning of this year, the asset management company Fidelity Investments has lowered Ant Group's valuation estimates for at least the second time, highlighting the prospects of the financial technology giant as the Chinese government strengthens the supervision of the financial technology industry Uncertainty. It is reported that Fidelity Investment is one of a small group of global investors who invested in Ant Financial three years ago.
According to Bloomberg News, the consolidated regulatory filing documents show that at the end of June this year, Fidelity Investment’s implied total market value of its holdings of Ant Group shares was 78 billion U.S. dollars, down from February’s 144 billion U.S. dollars and last year’s 11. At the beginning of the month, the Ant Group's initial public offering (IPO) was suddenly stopped by the regulators for the previous US$235 billion.
As Chinese regulators rectify the financial technology industry and implement new data security and IPO regulations, the future of Ant Group is full of uncertainty. Ant Group appointed a new CEO in March this year and promised to carry out comprehensive rectification.
Ten months ago, Ant Group's IPO was suspended at the last minute, marking the beginning of a comprehensive action by China's financial regulatory authorities to supervise Chinese Internet companies.
A corner of the Ant Group Hangzhou headquarters office building. (Ant Group's official website)
The Chinese financial management department had an interview with Ant Group in December 2020, and pointed out its problems such as illegal regulatory arbitrage, monopolistic operations, and damage to consumers' legitimate rights and interests. The content of the interview involved payment business, and required a return to the origin of payment, enhanced transaction transparency, and strictly prohibited unfair competition.
On April 12 this year, the Chinese financial management department once again jointly interviewed Ant Group and put forward the work requirements for self-examination and rectification. Pan Gongsheng, deputy governor of the People's Bank of China, said that with the changes in volume, the problem of the early growth and accumulation of the ant group has gradually exposed.
On September 7, a spokesperson for the China Banking and Insurance Regulatory Commission stated that at present, Chinese online platform companies are actively conducting in-depth self-examinations and formulating rectification plans in accordance with laws, regulations and regulatory requirements, and implementing rectifications in an orderly manner. The China Banking and Insurance Regulatory Commission will continue to adhere to "zero tolerance" for various financial violations. (End)
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