At the end of December 2023, the Central Bank of China announced that it agreed to change Alipay (China) to have no actual controller. (HECTOR RETAMAL/AFP via Getty Images)
[The Epoch Times, December 31, 2023](Epoch Times reporter Xia Song reported) Recently, the Central Bank of China announced that it agreed to change Alipay (China) to have no actual controller, which attracted market attention.
The announcement of major licensing changes for non-bank payment institutions on the official website of the Central Bank of China (as of December 2023) shows that the central bank issued a final word on bank license approval [2023] Document No. 189 agreed to change Alipay (China) Network Technology Co., Ltd. to have no actual controller.
On December 29, Hang Seng Electronics and Cathay Property & Casualty Insurance also issued separate announcements. Since the change in the voting rights structure of Ant Group’s major shareholders has been completed, Ant Group has changed to no actual controller. As its affiliated companies, Hang Seng Electronics and Cathay Pacific Property & Casualty Insurance Co., Ltd. The property insurance company changed to have no actual controller.
Ant Group said that the voting rights structure adjustment plan of the group’s major shareholders was announced in January 2023. The relevant procedures have been completed and the delivery has been completed. This adjustment will not have an impact on the daily operations of the relevant companies.
According to the “Measures for the Administration of Acquisitions of Listed Companies” of the Communist Party of China, the absence of actual controllers means that the ownership structure of listed companies is dispersed, and there are no controlling shareholders holding more than 50% of the shares; there is no situation that actually controls more than 30% of the voting rights of the company’s shares; a single director, senior management Personnel cannot control the company’s major financial and operational decisions.
Alipay was established in 2004, and Ant Technology Group currently holds 100% of its shares.
In January this year, Ant Group announced that it planned to take a series of measures at the board of directors and shareholder levels, including introducing more independent directors, adjusting the voting rights structure of major shareholders, and promoting greater decentralization of shareholder voting rights.
At the shareholder level, the core of the adjustment is the change in the voting rights of major shareholders.
From the joint exercise of share voting rights by Jack Ma and persons acting in concert, to the independent exercise of share voting rights by 10 natural persons, including Ant Group’s management, employee representatives and founder Jack Ma. After the adjustment is completed, there will no longer be any situation where direct or indirect shareholders single or jointly control Ant Group.
Alipay changed to have no actual controller, which caused great concern in the market.
Internet technology blogger and Weibo influencer “Sima Sanji” posted a blog post saying, “If the equity of the company is too dispersed and no one shareholder’s equity share can determine the voting result of the shareholders’ meeting, then the company will become “unrealistic”. “controller” enterprise. In this case, the shareholders’ meeting of this enterprise must elect the board of directors through the vote of all shareholders.
For the current Alipay, the election results of the board of directors are obvious: among the shareholder members, there must be shareholders with state-owned assets background. Although their equity is not enough to determine the voting results of the shareholders’ meeting, for most shareholders, you Isn’t it clear who to choose? I can’t go into details anymore, so I’ll stop. “
The author of the headline article and Weibo V “Li Xuanhao on the Market” said: “10 years ago, Jack Ma once said: If the country needs it, Alipay can be given to the country at any time. Just yesterday, the central bank agreed to change Alipay to have no actual controller. This It’s a true prophecy! Jack Ma has completed his historical mission!”
Internet media person and Weibo influencer “Internet Junming Shuo” said: “According to common sense, it is impossible to find an answer to this kind of question on Zhihu… Therefore, knowing it or not telling it is a wise act.”
Editor in charge: Fang Xiao
2023-12-31 06:21:54
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