Ant Group profits tumble 91% in December quarter

The news: China’s Ant Group reported a 91% decline in net profit in the three months to 30 September 2025, as the digital payments firm increased spending to compete across AI and healthcare.

The numbers: The Hangzhou-based company contributed 393 million yuan ($81.43 million) of profit to its parent company, Alibaba Group Holding Ltd, according to an earnings reported on Thursday. Alibaba owns one third of the Jack Ma-backed Ant Group.

Alibaba’s revenue climbed as a slower pace than anticipated, seeing a 2% lift for the quarter to 284.8 billion yuan. It also suffered a 66% plunge in net income, driven by intense spending on promotions.

The context: Ant, which operates China’s financial services app Alipay has been recalibrating since a regulatory crackdown resulted in over USD1 billion in fines placed on the company in 2023.