Photo/Zhang Jian (NBD)

Jan.31 (NBD) -- On January 30, Jack Ma, the founder of Alibaba, met with Xie Guoming, Thailand's richest man and senior chairman of CP Group, which is also the second meeting between the two parties in the past month.

People are speculating that Jack Ma may start a new investment cooperation with CP Group.

Following the news, Chia Tai Enterprise International (HK03839), a Hong Kong-listed company under CP Group, saw its share price rose 251.88% in a single day.

NBD learned that CP Group was a multinational company established in 1921 with businesses covering more than 100 countries and regions around the world.

The large-scale cooperation between CP Group and Alibaba began in 2016. In that year, Ant Financial signed a strategic cooperation agreement with Ascend Money, a payment company under CP Group. Both Xie Guomin and Jack Ma attended the signing ceremony.

However, as of press time, both CP Group and Alibaba can not be reached for comment.