PICC Group Reshapes Governance as NFRA Clears Articles Amendments

The latest announcement is out from People’s Insurance Co (Group) of China ( (HK:1339) ).

The People’s Insurance Company (Group) of China Limited has obtained approval from China’s National Financial Regulatory Administration for amendments to its Articles of Association, adopted at its 2024 annual general meeting, and has published the revised Articles on the Hong Kong stock exchange website and the company’s own site. Under the new Articles, the company will abolish its Board of Supervisors and transfer its supervisory functions and powers to the audit committee of the board, prompting the simultaneous departure of supervisors Starry Lee Wai King, Wang Yadong and He Zuwang, who stated they had no disagreements with the company; the move marks a significant governance restructuring that consolidates oversight within the board framework and may streamline supervisory processes for shareholders and other stakeholders.

The most recent analyst rating on (HK:1339) stock is a Hold with a HK$7.00 price target. To see the full list of analyst forecasts on People’s Insurance Co (Group) of China stock, see the HK:1339 Stock Forecast page.

More about People’s Insurance Co (Group) of China

The People’s Insurance Company (Group) of China Limited is a major Chinese insurance group, operating in the financial services and insurance industry with a focus on providing insurance products and related services to policyholders and corporate clients in China and overseas markets. Listed in Hong Kong, the group is overseen by a board comprising executive, non-executive and independent non-executive directors, reflecting its role as a key state-linked player in China’s financial sector.

Average Trading Volume: 44,391,506

Technical Sentiment Signal: Buy

Current Market Cap: HK$420.1B

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