(i) Paytm First Games Private Limited in India:
A joint venture company of the Group with One97 Communications Limited , namely, Paytm First Games Private Limited, developed and operated its mobile games and entertainment platform, namely “Paytm First Games”, in India during 2021. One97 is the owner of Paytm, which is a leading mobile payment platform in India. Paytm First Games offers players a unique online experience with popular games content such as rummy and fantasy sports games.
With an outlook in grooming the platform to become one of the major market players, the Group is fully committed to the development of Paytm First Games and will continue to dedicate additional resources and funding to this joint venture investment in order to further its future expansion.
(ii) Ant Bank (Macao) Limited in Macau:
The Ant Bank is a joint venture company held as to 66.7% by two indirectly wholly-owned subsidiaries of Ant Holdco and as to 33.3% by a 30% indirectly owned associated company of the Company. The Ant Bank officially commenced operations in April 2019, with a business scope of providing mobile payment services and financial banking services such as deposit, loan and remittance services to residents and small and medium-sized enterprises of Macau. The chairman and chief executive officer of the Company, Mr. Sun Ho, and the non-executive Director, Mr. Ji Gang, are also directors of the Ant Bank.