The Capital Group Companies, Inc. significantly expanded its position in PICC GROUP (01339) on July 16, acquiring 5.9 million shares at HK$5.6185 per share. This transaction represents a total investment of approximately HK$33.15 million. Following this strategic move, Capital Group's total holdings in the Chinese insurance giant surged to approximately 438 million shares. This increased stake now represents 5.02% of PICC GROUP's outstanding shares, cementing Capital Group's position as a major institutional investor in the company. Market observers note this substantial purchase reflects continued institutional confidence in PICC's market position and growth trajectory within China's insurance sector.