1. Ant Group's shareholding structure is complex, involving multiple direct and indirect shareholders. According to public information, Alibaba Group has substantial control over Ant Group through a series of subsidiaries and agreements. Although Ma Yun himself has retired, he and other Alibaba founders and management members have maintained a certain influence on Ant Group through a special shareholding structure and partnership.

2. Specific to the shareholding ratio, since Ant Group is not a listed company, its detailed shareholding structure has not been fully disclosed. According to previous media reports and public information, Alibaba Group's shareholding in Ant Group may be around 33%. However, due to the complicated agreements and rights arrangements between the two parties, the actual economic benefits and voting rights enjoyed by Alibaba Group may far exceed this ratio. In addition, other investors such as sovereign wealth funds, large financial institutions and private equity funds hold part of the shares of Ant Group.