News Snapshot:
/ China FinTech unicorn Ant Group’s gross profit exceeded US$10 billion in 2020 China FinTech unicorn Ant Group’s gross profit exceeded US$10 billion in 2020 October 22, 2020 Ant Group , China’s fintech unicorn behind Alipay, announced that in the first three quarters of 2020, it realized 118.191 billion yuan of operating revenue, with a year-on-year increase of 42.56%. Its revenues come mainly from the growth of digital financial technology platform revenue. Its gross profit was 69.549 billion yuan (US$10.41 billion), a year-on-year increase of 74.28%; and, the overall gross profit margin increased to 58.84% from 48.13% in the same...
