Cancellation of Zhaocaibao Company, a subsidiary of Ant Group

CTOnews.com February 4 news, Zhaocaibao related company Shanghai Zhaocaibao Financial Information Services Co., Ltd. recently cancelled.

Shanghai Zhaocaibao Financial Information Service Co., Ltd. was established in December 2013, with legal representative Song Chang and registered capital of 10 million RMB. Its business scope includes financial information services, research and development of financial products, portfolio design, consulting services, etc., which is wholly owned by Shanghai Yunjin Information Technology Co., Ltd., a subsidiary of Ant Group.

CTOnews.com learned that Zhaocaibao was previously a regular financial platform with stable returns open to Yu'e Bao users of Ant Group. Previously, Yu'e Bao and Zhaojubao account can be directly docked and funds transferred. The idle account funds in Yu'e Bao can invest in products with higher returns according to the information on the Zhaobao platform. This brings a stable direct docking of capital flow accounts for Zhaobao.

In January this year, the central bank said that the rectification of 14 large platform enterprises, including Ant Group, had been basically completed. Ant Group also issued an announcement on the continuous improvement of corporate governance, mainly related to the adjustment of the superstructure of shareholders. Ant Group said that after this adjustment, Ant Group's share voting rights are more transparent and decentralized, which is a further optimization of the corporate governance structure and will promote the sustained and sound development of Ant Group. "there is no longer any situation in which direct or indirect shareholders control the Ant Group singly or jointly."