Gate News reports that, as of March 31, Ant Group has completed the settlement of its acquisition of Hong Kong stablecoin concept stock Yao Cai Securities, acquiring 50.55% of its equity for HK$2.814 billion. Following the completion of the transaction, Yao Cai Securities' board of directors has undergone a comprehensive reshuffle. Zheng Yanlan, currently head of the overseas business preparation team for the Ant Wealth segment under Ant Group; Huang Hao, currently a senior vice president of Ant Group; and Liu Zheng, currently chief financial officer of Ant Group, among others, have been appointed as executive directors.

Alibaba Group Chairman Joe Tsai stated that AI's potential lies in the application layer, promoting popularization to benefit society. China plans to achieve comprehensive AI empowerment by 2030, with intelligent application penetration exceeding 90%. Alibaba will focus on innovation to seize market opportunities.

Gate News: On March 17, Yao Cai Securities Finance (01428.HK) surged significantly after resuming trading today, with gains exceeding 50%, now trading at HK$14.040. Previously, the company announced that the merger offer initiated by Ant Group has been approved by relevant Chinese authorities, with the transaction expected to be completed on March 30. The company's stock resumed trading today.