Ant Group Co. incurred a steeper profit decline in the three months ended in June, as the fintech giant molds itself to appease Chinese regulators.
The Hangzhou-based company contributed 2.4 billion yuan to Alibaba Group Holding Ltd.’s earnings, a filing showed Thursday.
Its consumer finance unit is raising 10.5 billion yuan in a scaled-down capital boost from investors after China Cinda Asset Management Co. unexpectedly backed out of its investment plan this year.
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