Ant Group rebuilds for regulators, but at what cost?

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People visit the Ant Group booth during the 2021 China International Fair for Trade in Services (CIFTIS) on September 4, 2021 in Beijing, China.

Synopsis

While the authorities have remained tight-lipped about Ant, the impact of its restructuring is clear for all to see. With its highly lucrative consumer lending business decoupled from ubiquitous payments service Alipay and moving into a consumer finance subsidiary, the company’s earnings and valuation have tumbled.

Kelsey ChengFollowing more than a year of restructuring, Ant Group Co. Ltd. is gradually picking up the pieces and making its way back into Chinese regulators’ good graces. But the fintech company is a stripped-down version of the titan it once was, with its highly lucrative consumer lending business decoupled from ubiquitous payments service Alipay and moved into a consumer finance subsidiary, sending the group’s valuation tumbling from its

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