On June 1, PICC Group (01339.HK) declined 3.09% in regular trading, trading at HKD 5.09/share, with trading volume of HKD 102 million.

The decline follows the announcement on May 31 that Chairman Ding Xiangqun resigned from all positions at the company effective immediately due to a job transfer. According to the company disclosure, on May 29, the Central Organization Department announced that Ding Xiangqun was appointed Party Secretary of the National Financial Regulatory Administration, a ministerial-level promotion.

Ding had served as PICC Group Party Secretary since October 2024 and subsequently as Chairman, serving less than two years before the reassignment. The company confirmed her departure does not reduce the board below the statutory minimum number of directors, and there are no outstanding commitments or disagreements with the board. The chairman position at PICC Group is now vacant, with the successor expected to be selected by the Central Organization Department from senior executives within state-owned insurance or major banking institutions.

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