Investors in Toyo Vaccine Case Demand Strict Enforcement of Illegality-Free Finance

The Toyo vaccine case is anticlimactic, and investors demanded strict punishment. The picture shows Lin Quan, President of Taiwan Toyo. (Data photo)

[Financial Channel / Comprehensive Report]Toyo claimed to have obtained the new corona pneumonia vaccine, but was unable to issue a formal clearance letter. In just three weeks, the import vaccine incident broke the situation. Toyo only wanted to end the incident with an announcement, but suffered losses due to the fall in the share price People do not reconcile, thinking that this incident, like the Lesheng case, is an asymmetric information advantage of a listed company stock market and misleads investors, hoping that the competent authority can investigate and deal with it.

On October 12, Toyo Corporation announced that it had obtained the rights from the Taiwanese agency for the German BioNTech Covid-19 vaccine. Subsequently, Toyo President Lin Quan held a press conference. Lin Quan said that “BNT authorized Taiwan’s Toyo Pharmaceuticals up to 30 million doses of the Covid-19 vaccine. The price will take into account the international market and market demand, will be based on public health and epidemic prevention considerations, and it won’t be too high. “

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Under the leadership of Lin Quan, the former chairman of the Executive Yuan, investors gave Toyo full confidence. The share price rose for three consecutive days, from 69.5 yuan a share to a high of 90.3 yuan. However, on the third day, an all-time high of 300.92 was shot. After the volume, the stock price fell completely. By the evening of November 3, Toyo announced that he could not administer vaccines to Taiwan as scheduled. On the 4th, Toyo’s stock price soared and fell to the limit.

The market questioned Toyo’s deception and speculation about stock prices. Toyo clarified that the major news and press conference released on October 12 have revealed that BNT’s new crown vaccine authorization case is a “conditional authorization” and has also provided the CDC for reference. Furthermore, during the negotiation with the government, he actively sought to extend BNT’s authorization period, but as part of the business conditions were not met, Toyo was unable to continue to provide valid supporting documents.

Zhuang Renxiang, a spokesman for the CDC Command Center, said Toyo’s statement late on the 3rd mentioned that obtaining authorization is a “conditional power of attorney.” However, government agencies must see a formal power of attorney when purchasing. When negotiating the purchase of vaccines, formal authorization is included as a standard operating procedure to determine whether the other party has obtained authorization.

A foreign investment manager said Lin Quan’s statement at the October 12 press conference was that “BNT has authorized Taiwan’s Toyo Pharmaceuticals up to 30 million doses of the new crown vaccine.” This is a positive tone and he did not explain to the public that there are still many conditions. As it matures, Dongyang’s share price will only rise from the next day with strong support from investors. “Who knows if Lin Quan, who was once chairman of the Executive Yuan, would also mislead investors.”

Regarding market dissatisfaction and doubts about Toyo Pharmaceuticals, Health and Welfare Minister Chen Shizhong blurted out on day 4: “Toyo is only doing what a publicly traded company should do, and FSC can find out if it’s illegal. ” However, he immediately added: “No news from Toyo has been released. Exaggeration and falsehood, investigation is not recommended.”

As to whether to verify? A market veteran pointed out that the Toyo incident is exactly the same as the Lesheng case, and Lesheng cannot be left alone just because the Toyo chairman once served as CEO.

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