Alibaba co-founder Jack Ma has finally resurfaced, after being out of the public view for months.

Ma’s absence sparked concern, largely because of his recent criticism of China’s regulatory system. There was swift backlash, with Chinese authorities blocking the IPO of Alibaba’s Ant Group, estimated at $37 billion.

According to CNN Business, Ma was spotted in a video posted by Chinese state media. The billionaire was seen in rural China, speaking to teachers as part of his philanthropic work.

Alibaba’s stocks were up in both the Hong Kong and New York exchanges on the news.

At the same time, not all investors are convinced everything is ok. Just because Ma made an appearance doesn’t mean Alibaba, or Ma himself, are in the clear.

“What his actual state is will be completely up to Beijing to reveal to us,” Leland Miller, CEO of U.S.-based consultancy China Beige Book, according to Reuters. “What we do know is whether Jack is running around, Jack is hiding or something else, Alibaba is not in the clear. There is a lot more of the story still to see.”