Alibaba’s Jack Ma Resurfaces After Months of Lying Low

undefinedEmbattled billionaire Jack Ma made his first public appearance in nearly three months, speaking via a video link at a philanthropic event on Wednesday, according to a Chinese media report.

Spokespersons for the Jack Ma Foundation and Ant Group Co., the financial-technology giant that Mr. Ma controls, confirmed the report.

“Jack Ma participated in the online ceremony of the annual Rural Teacher Initiative event on January 20,” the billionaire’s foundation said in a statement to The Wall Street Journal.

Alibaba’s Hong Kong-listed shares jumped on the news and were up 6% in Wednesday afternoon trading.

The event saw Mr. Ma addressing 100 village teachers receiving accolades from the foundation. The ceremony is usually held annually in Sanya, a resort town in southern China, Mr. Ma said on the video.

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