Jack Ma, the Chinese billionaire and founder of Ali, will not manipulate the Internet finance giant Ant Group, which is part of the company's recent industrial restructuring.

The Ant Group has officially announced that Jack Ma allows the company to relinquish control of the company as part of the company's further optimization and restructuring.

Before the change, Ma Yun was the controller of Ant Financial Services Group. In addition to owning a 10 per cent stake in Ant Financial Services Group, he could also exercise control over the company through the relevant entity lines.

The company said in a statement that once the restructuring process takes place, all single shareholders will not manipulate Ant Financial Services Group. The company stressed that shareholders of major companies such as Junhan in Hangzhou and Junao in Hangzhou will exercise Ant Financial Services Group's right to vote independently.

Ant Financial Services Group added: "this regulation is not easy to cause other changes in the economic benefits of all shareholders and beneficiaries of Ant Group."

Some investment analysts suggest that Ant Financial Services Group's restructuring and Jack Ma's relinquishment of control of the company could have a positive effect on the company in the long run.

Wang Pengbo, a high-end investment analyst at Broadcom Analysys, believes that new companies with more diversified voting rights are more durable. "this has leveled the road for the company to sell in the future, although it is unlikely to be sold in the near future," he stressed. "

In the news that Jack Ma took out the control of ants, the stock price of Alibaba Group, an ant relationship company, rose rapidly. Ali's stock price on the New York Stock Exchange has risen nearly 10 per cent since Ant announced the news, according to TradingView.

As reported, Ant Financial Services Group tried to launch the largest rights issue (IPO) in 2020, raising about $30 billion. The Chinese government eventually chose to suspend Ant Financial Services Group's IPO because the location government is looking forward to maintaining its rights to private enterprises.

After the suspension of IPO, Ant Financial Services Group once again actively promoted the benefits of blockchain technology and digital currency. With Alipay Wallet, the world's largest data payment system, Ant once again participated in the development and design of China's big digital currency after gradually collaborating with the people's Bank of China in 2017.

The company is one of the Chinese Internet giants that have built blockchain alliances for their businesses in recent years. The company has been actively developing its blockchain technology business process AntChain and will launch new products in 2022.

Although the ant is obviously interested in blockchain technology and related technology, it is still in line with China's negative view of data encryption. Companies such as Ant Group have imposed restrictions on irreplaceable token service platforms, as Cointelegraph revealed in March 2022, fearing the impact of government departments.