On January 21st, according to the latest analysis by Bloomberg Intelligence, the valuation of Ant Group may be further reduced.
Francis Chan, a senior analyst at Bloomberg Intelligence, predicts that the valuation of Ant Group’s Alipay service may be reduced by half, which will result in Ant Group’s valuation of less than RMB 700 billion ( About 108 billion U.S. dollars).
Earlier this month, the analyst lowered the valuation of Ant Group from approximately RMB 1.44 trillion to less than RMB 1 trillion. Bloomberg Intelligence’s latest valuation of Ant Group is as high as 3,200 before the company was forced to cancel the record-setting initial public offering in November last year. The billion-dollar valuation plummeted by 66%.
Ma Yun suddenly appeared
The Ant Group originally planned to be listed on the Science and Technology Innovation Board and the Hong Kong Stock Exchange at the same time on November 5, 2020, and its valuation was as high as US$320 billion before the IPO However, just two days before the listing, the Shanghai Stock Exchange issued an announcement that the actual controller, chairman and general manager of Ant Group were jointly conducted supervisory interviews by relevant departments, and the initial public offering was suspended.
Alipay, which has about 1 billion users, currently controls 55%of the mobile payment market share. However, with the strengthening of financial supervision, there is a high demand for Ant Group to spin off Alipay. One of the reasons for the plummeting valuation of Ant Group.
Francis Chen said:“If it is forced to spin off the payment department, Ant Group’s valuation may plummet further.”
Although the regulatory level does not require Ant Group to spin off However, the central bank emphasized that “Ant Group must fully recognize the seriousness and necessity of rectification” and “make a rectification plan and implementation timetable as soon as possible”. There are still many uncertainties in the future. But just recently, Ma Yun, who has been silent, suddenly appeared.
On the morning of January 20, 2021, Jack Ma met with 100 rural teachers from all over the country,”Yun” through video connection, and spoke online. He said:”When the epidemic is over, we will meet again. !”
Ma Yun in the video is very calm. Subsequently, the Ali group intranet also published a post-“The Laba Festival has an agreement with the teachers. Teacher Ma is here for the appointment”.
This is the first time Jack Ma has appeared before the public three months after the Bund situation aroused the attention of regulators. Ma Yun has not appeared in public for the past three months, which is in stark contrast to his high profile in the past.
In addition to the suspension of Ant’s listing, the country opened an antitrust investigation. The whereabouts of Jack Ma has recently attracted widespread media attention. Media at home and abroad are speculating, where did Jack Ma go?
The appearance of Jack Ma seems to have broken many months of speculation from the outside world.
Affected by this news, Alibaba stocks rose sharply that day. Hong Kong stocks Alibaba rose 10.31%in intraday trading. As of the close, it rose by 8.25%, and its market value was HK$5.69 trillion.
The first executive resigns after the IPO suspension
Despite all these experiences, Ant is already in the process of orderly rectification. It can be said that everything is moving in a better direction. However, Yin Ming, vice president of Ant Group and general manager of Ant Insurance Division, suddenly resigned.
It is reported that on January 21, Yin Ming, vice president of Ant Group and general manager of Ant Insurance Division, has resigned from Ant Group. In this regard, the Ant Group said,”We have worked together for five years. We all like him, thank him very much, and bless him.”
From public information, it can be seen that Yin Ming was a relatively young member of the China Life Insurance system. One of the senior executives, has served as the general manager and assistant to the president of the Shanghai branch. He was also promoted to vice president of China Life Property Insurance and vice president of China Life E-commerce Company.
According to the prospectus submitted by Ant Group previously, Yin Ming joined Ant Financial in September 2015 as a vice president and general manager of the insurance business department.
From the relevant data, it can be seen that the Ant Insurance business platform managed by Yin Ming has products and services covering life insurance, health insurance, property insurance and mutual aid projects.Huahebao etc. The prospectus data shows that during the 12 months ended June 30, 2020, the business platform contributed a total of 51.8 billion yuan in premiums and amortization, making it China’s largest online insurance service platform.
The official website of Ant Group shows that Yin Ming has been removed from the list of executives of the vice president of Ant Group. This is also the first senior executive to leave after Ant Group’s IPO suspension on November 3, 2020.
According to people familiar with the matter, Yin Ming resigned from the position of Vice President of Ant Group and General Manager of Insurance Affairs Department and will go to Beijing as General Manager of Sunshine Property Insurance. Ms. Shao Wenlan, Vice President of Ant Group, will succeed Ant Group Insurance. Business department.
According to public information, Shao Wenlan joined Ant Group in August 2015, served as chairman of Zhima Credit since June 2019, vice president of Ant Group since August 2020, and general manager of Huabei Business Group. And general manager of consumer finance business group.
Some analysts say that in the face of strong supervision, more and more platforms are acting cautiously, and some businesses will become increasingly difficult to do. Under heavy pressure, it may also cause some traffic platform executives to return to traditional enterprises, including those insurance giants.
Why Yin Ming left the ant is still unknown. However, according to sources, there were rumors of Yin Ming leaving long before Ant was confirmed to be listed, and Yin Ming would not be the general manager of the Ant Insurance Division for some time. It was just that the listing of Ants was stranded and accidentally got into trouble so that the departure plan was disrupted.
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