Domestic media reported, citing sources, that Yu Ze, member of the Party Committee and Vice President of PICC Group (01339.HK), as well as Secretary of the Party Committee and President of PICC Property (02328.HK), has gone missing and is suspected to have been taken away for investigation. No official statement has been released so far.
The domestic report cited sources as saying that this has been confirmed by several individuals close to the PICC system. Yu Ze's last public appearance was at a company meeting on Friday afternoon (28th), after which news of his alleged detention spread internally over the weekend. His mobile phone has been unreachable. Although the situation came as a surprise, insiders said they were not shocked by Yu Ze’s predicament, given that various reports against him had never ceased, prompting PICC Group to convene a Party Committee meeting regarding the matter.
The report noted that Yu Ze took over as the head of PICC Property in March 2021 and has held the position for more than four years, becoming the longest-serving president among the last five leaders of PICC Property.
