Recently, Topchoice Medical Co.Inc(600763) chairman and CEO LV Jianming sent himself to hot search. LV Jianming wrote on his microblog that he made an appointment with Jingshan temple on the first day of construction (with friends) to pray for blessings. “Because of the epidemic, Jingshan temple has not been opened to the outside world recently. My friend contacted the temple monk and was able to enter the hall and burn three incense.”
Frankly speaking, this remark is not prominent in the opening remarks of a crowd. There are two main reasons why it has attracted attention. First, affected by the Hangzhou epidemic, the Millennium ancient temple Jingshan temple has been suspended from opening again on February 4. LV Jianming illegally entered the temple to burn incense, which means that he violated the provisions of Hangzhou on epidemic prevention and control. LV Jianming’s move is tantamount to announcing in public that he enjoys “privileges”. Obviously, LV Jianming also realized that it was inappropriate and revised his previous remarks to update it to “the side door of the parking lot is not closed and anyone can enter and exit.”
Another and most important reason is that LV Jianming is the chairman of the listed company Topchoice Medical Co.Inc(600763) . Burning incense and praying on the first day of construction is inevitably suspected of “not doing business”. He is in charge of Topchoice Medical Co.Inc(600763) which is the first listed medical service company in A-share market and the leading enterprise in China’s oral medical service industry. The market value was as high as 135.4 billion yuan, known as “Yamao”.
There is nothing wrong with praying for the Spring Festival. However, LV Jianming’s behavior is not personal. The time for burning incense on the first day of construction is set with its own enterprise attribute. What’s more, LV Jianming should also understand that the words and deeds of the chairman represent the enterprise. As the legal representative of the enterprise, public statements must represent the strategy, decision-making and image of the enterprise. In fact, LV Jianming has always been in the habit of openly talking about enterprises, and he has repeatedly and unequivocally opposed any doubt. Last October, Topchoice Medical Co.Inc(600763) continued to limit its trading, causing netizens to make complaints about ” Topchoice Medical Co.Inc(600763) stock is the best theme of stock market killing pigs”. Therefore, Lv Jianming personally returned to make complaints about the fierce words, saying that “Tucao netizens” are not our shareholders who welcome us. They are humiliating us by buying our stocks.
Of course, this storm does not rule out the possibility of LV Jianming’s self hype. After receiving attention, the A-share market on February 10, Topchoice Medical Co.Inc(600763) once rose to 157.3 yuan, up 2.91% so far this week.
Some investors believe that the chairman burned incense to save the company’s plummeting share price. After reaching the high point on June 30, 2021, Topchoice Medical Co.Inc(600763) went all the way down. As of February 10, 2022, the market value had shrunk by 86.5 billion yuan. However, it should be pointed out that despite the epidemic situation and the influencing factors of intensive collection of dental implants, it is normal for the market value to shrink sharply due to excessive premium. From the end of 2017 to June 2021, the share price of Topchoice Medical Co.Inc(600763) increased by more than 10 times, which is still more than 5 times higher than the current low.
Regardless, the market has always questioned whether Topchoice Medical Co.Inc(600763) can complete the national expansion. Its business model of “regional general hospital + branch hospital” continues to sink in Zhejiang Province, and the expansion outside the province is still in its infancy. The serious regional dependence has caused the company’s growth fatigue, and the uncertainty of policy also makes Topchoice Medical Co.Inc(600763) face more trust crises.
Some netizens joked that “investors should be the Buddha of the chairman”. Although there are elements of banter, it is not unreasonable. As the chairman of a listed company, the company cannot operate by burning incense, and it is suspected of violating the epidemic prevention policy. Of course, the specific results need to wait for the follow-up investigation of relevant departments. As an old saying goes, we should fear investors. Only listed companies that know how to respect and repay investors will win the recognition and respect of the market.
