Chinese fintech giant Ant Group Co. Ltd. saw its first-quarter profit drop 37.5% from the previous quarter, according to Caixin’s calculations, as it was required to comply with new rules on once-lucrative microlending and restructure its business.
Ant Group Profits Plunge
Decline of over 37% quarter-on-quarter comes as financial conglomerate required to comply with new microlending rules
[财新双语通产品，是为有双语需求读者专门订制的优惠产品， 按此可享超值优惠订阅。]
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