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<Research>Citi: PICC P&C's Biz Operations & Outlook Still Solid
Recommend 1 Positive 5 Negative 4 |
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Yu Ze, a member of the Party Committee and Vice President of PICC GROUP (01339.HK), and the Party Secretary and President of PICC P&C (02328.HK), has gone missing and is suspected to be under investigation, Chinese media reported. No official announcement has been made yet. Citi believes that the investigation against Yu will not affect the insurance business operations of PICC P&C, as it is a central state-owned enterprise with a well-established operational system. Meanwhile, the company's business outlook will also remain unchanged. It will continue to benefit from the tailwinds brought by strengthened regulatory underwriting. Citi gave PICC P&C a Buy rating and a target price of HKD21.2. AAStocks Financial News |
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