Movement Alert｜PICC Group Falls 3.1% in Regular Trading, Anti-Corruption Probe of Former VP Continues to Weigh on Sentiment

Market Focus06-18

On June 18, PICC Group (01339.HK) fell 3.1% in regular trading, trading at HKD 5.31/share, with turnover of HKD 27.92 million. The stock has extended its downtrend following the announcement that former Party Committee member and Vice President Yu Xiaoping is under investigation for serious disciplinary and legal violations.

On June 13, the Central Commission for Discipline Inspection announced that Yu Xiaoping, who retired in August 2017 after serving as PICC Group Vice President and Chief Investment Officer since 2010, is under investigation. On June 15, PICC Group formally convened a Party Committee meeting expressing full support for the investigation. This marks the latest in a series of executive probes within the PICC system, following the expulsion of another former VP Yu Ze earlier in June. Market analysis notes the stock is in an accelerating downtrend with the average cost at approximately HKD 7.12, while current valuations sit at a P/E of roughly 4.71x and P/B of 0.71x.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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