Jack Ma, former chairman of Alibaba Group recently founded a start-up. Apparently, he is investing in China’s fishing and agricultural industries.). The startup, known as “1.8 Meters Marine Technology (Zhejiang) Co,” was established in Hangzhou, Zhejiang province. Additionally, the registered capital of 110 million yuan (US$15 million).
The venture’s commercial scope includes processing, feeding, and aquatic goods. Hong Kong- based 1.8 Meters Marine Technology Ltd is the controlling shareholder with 80% of its shares.
Jack Ma’s Hangzhou Dajingtou No. 22 Arts and Culture Co Ltd is the second largest shareholder with 10% equity shares.
Additionally, Simon Hu, the former CEO of Ant Group, holds a 5.5% investment in the startup. 1.8 Meters Marine Technology is a progressive start-up.
Jack Ma’s Recent Movements
After criticizing the country’s financial authorities in October 2020, Jack Ma had been keeping a low profile.
Ma’s latest endeavor is not entirely unexpected. Over the past few years, he has traveled around the world conducting studies on sustainable food production. He reportedly spent January visiting a sea shrimp facility in Thailand. He intensively studied fisheries and tuna farming in Japan, according to SCMP. He visited a Dutch institution in July 2022 to study sustainable farming. Oct. 20, 2021
Ma even started teaching at Tokyo College this year in May. According to a statement made by Tokyo College, he was conducting research on sustainable food production and agribusiness there.
The former teacher-turned-tech mogul left Alibaba in 2019 but continues to serve on the board of the Jack Ma Foundation.
Jack Ma and SCMP
Ma and the SCMP have a troubled history together. A newspaper reporter resigned in 2013 after reading that Ma had defended Beijing’s brutal attack on pro-democracy demonstrators in Tiananmen Square in 1989.
In Hong Kong, where many people continue to be proud of the city’s political isolation from China’s mainland, any transaction for the city’s leading English-language broadsheet may raise concerns. Ma, a citizen of China, routinely appears with officials from the Communist Party’s top echelons, and both sides have expressed their appreciation and support for one another.