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Alibaba’s Ant Group Has Sold All Its Shares in Caixin Media, According to Report

Chinese Internet giant Tencent posted news that Netease originally reported saying  that Ant Group (which Alibaba owns) has recently sold all of its shares in Caixin Media and completely withdrawn from investment. According to publicly available information, Caixin Media had previously introduced external investors such as Zhejiang Shu Culture, Tencent, CMC Capital, and Ant Group through A, B, C, and D rounds of financing. As of now, Ant, Zheshu Culture, and others. have disappeared from the list of Caixin shareholders. Tencent still holds a small number of Caixin shares through the Shenzhen Litong Industrial Investment Fund.

{Note: Caixin Media is a private all-media group that provides financial news and information services.  Hu Shuli, the former editor-in-chief of Caixin magazine was the founder. It is said that former Chinese Vice President Wang Qishan is one of the backers of Caixin Media.}

Also, on September 23, Alibaba sold all of its shares of Mango Excellent Media, a major TV-based entertainment media in Shanghai, at a loss of over 2 billion yuan (US$ 310 million).

1. Tencent, October 12, 2021
2. Sina, September 24, 2021