The Role of Alibaba and Ant Group in Megvii’s Ownership Stake Structure

In the attached report, RWR seeks to illuminate the nature of Alibaba’s and Ant Group’s past investments and ownership in Megvii Technology, a company that was added in October 2019 to the “Entity List” for being “implicated in human rights violations and abuses in the implementation of China’s campaign of repression, mass arbitrary detention, and high-technology surveillance against Uighurs, Kazakhs, and other members of Muslim minority groups in the [Xinjiang Uighur Autonomous Region].” The “Entity List” is an officially designated set of companies that are subject to stricter export controls, as administered by the Bureau of Industry and Security under the U.S. Department of Commerce.