Taiwan's local COVID-19 vaccine development company, High-end, has recently been involved in a stock price insider trading scandal. The Kuomintang said on the 18th that high-end vaccines have suspicions such as legislators’ involvement in stock speculation and a surge in trading

[Comprehensive News from Qiaobao.com] Taiwan's local COVID-19 vaccine development company High-End has been deeply involved in the insider trading scandal in its stock price. The Kuomintang said on the 18th that high-end vaccines have suspicions such as legislators’ involvement in stock speculation and a surge in trading volume before the disclosure of major information, and requested prosecutors to investigate. The high-end side claims that it respects the investigation of the Financial Supervisory Commission and the inspection and commission.

Comprehensive reports from Hong Kong's China News Service and Taipei's "China Times" revealed that the previous investigation investigated the stock speculation case of Toyo Company, and general manager Shi Junliang and others were transferred to the prefectural prosecutor's office. On the 18th, the Kuomintang caucus general convenor Fei Hongtai and legislators Zeng Mingzong and Lai Shibao requested that the inspection should be compared with Japan to investigate whether high-end vaccines are involved in stock speculation.

Fei Hongtai (middle), convener of the Kuomintang Legislative Yuan caucus, and legislators Zeng Mingzong (left) and Lai Shibao (right) requested on the 18th that the inspection should be compared with Japan to investigate whether there is any stock speculation in high-end vaccines. (Photo source: Taipei "China Times")

On the same day, Huang Tianmu, chairman of the Financial Supervisory Commission, and Chen Yongcheng, chairman of the OTC Trading Center (Taiwan Securities OTC Trading Center), both attended the Legislative Yuan Finance Committee for consultation. Chen Yongcheng confirmed that there were indeed abnormalities in high-end stock trading due to different incidents, and the data has been sent to the inspection unit for investigation.

Zeng Mingzong revealed that Tsai Ing-wen held a press conference at the "Presidential Palace" at 6:30 pm on May 13, local time, and stated that the first wave of Taiwan-produced vaccines could begin to be supplied at the end of July, but high-end stocks were closed the day before, on May 12. The trading volume was 13,558, and the trading volume on the 13th was 16,108. Compared with the trading volume on May 10, which was more than 2,000, stock trading was obviously abnormal, indicating that there was news of leaks, and the trading volume of high-end stocks increased significantly. This involves the rights and interests of investors and whether high-end companies are operating decently. We hope that the prosecutors will intervene in the investigation.

Lai Shibao said that it has been more than a year since the high-end "national cheerleading team" intervened, and the stock price has been rising, at least more than 4 times. Compared with the FSC's initiative to transfer the case to Dongyang, the FSC only passively cooperated with the investigation of the high-end, showing political pressure. What's more, the outside world continues to question whether the former deputy chairman of the FSC, Xu Yongqin, was "resigned." Xu is a prosecutor who specializes in money laundering prevention and control. In the business of preventing financial crimes such as insider trading, the sudden resignation may be related to the high-end. The outside world interpreted it as "the investigation was too aggressive and some people were unhappy as a result."

It is worth mentioning that Fei Hongtai broke the news that day that he had received intelligence information at the end of November last year and that more than 10 legislators were involved in speculating on high-end stocks. The subscription amount at that time was much different from the current stock price. From January last year to When high-end stock prices were at their highest in May this year, the difference was 13 times.

Fei Hongtai believes that if the inspection and deployment troops are divided into 26 groups to investigate Dongyang, the high-end troops should be divided into 100 groups to investigate, because there must be more people involved in the case and the amount of money is larger. He called on prosecutors to investigate this and find out which legislators participated in the capital increase of high-end vaccine stocks last year and whether there were political connections behind the change in attitude of the stock exchange.

In response to this, the Democratic Progressive Party group responded on the 18th that the Kuomintang group was untargeted and asked the Kuomintang group to file a lawsuit directly and not hide behind the immunity of speech to insinuate. (End)