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Ping An Healthcare and Technology Company Limited (PIAHY)

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24.500.00 (0.00%)
As of 1:32PM EDT. Market open.
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Previous Close24.50
Open24.50
BidN/A x N/A
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Day's Range24.50 - 24.50
52 Week Range22.95 - 35.00
Volume65
Avg. Volume73
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As part of the crackdown, Ant has been told to “rectify” its lending, insurance and wealth management services.Read more: Jack Ma’s Ant Posted $2.3 Billion Profit Before Halt of IPO Stricter capital requirements may kneecap Ant’s ability to issue loans as freely, adding to challenges for its sister company’s commerce operations. The fintech giant provides small unsecured credit to about 500 million people through its Huabei (Just Spend) and Jiebei (Just Lend) platforms. These are used in part to pay for purchases of clothing and makeup from the Taobao marketplace or trips booked on Fliggy, the group’s online travel site.Payments using Huabei on Alibaba’s China marketplaces represent only a very small percentage of total credit granted under the platform, Zhang told analysts Tuesday. 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Alibaba -- which had in recent years spent billions on stakes in hypermart operator Sun Art Retail Group Ltd. and NetEase Inc.’s Kaola e-commerce platform -- was fined 500,000 yuan in December for not seeking approval before boosting its holdings in department store chain Intime Retail Group Co. in 2017.“The business performance is strong and many feel the shares are undervalued compared to the roadmap and trajectory of some of their businesses,” Andy Halliwell, an analyst at technology consultancy Publicis Sapient, said in a research note after the earnings result. “However, if the Chinese government is looking to crack down on outspoken entrepreneurs and take a more conservative line with their larger tech businesses, then this will dent investors’ confidence in the brand and may create an opening for others to exploit.”Click here for a live blog on the numbers.(Updates with bond issuance in fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.