In Securities and Futures Commissions v Poon Tsz Hang and others [2026] HKCFI 2562, the SFC bought proceedings under section 214 of the Securities and Futures Ordinance (SFO) against, amongst others, Mr. Poon Tsz Hang (“Poon”), the former company secretary and financial controller of Qunxing Paper Holdings Company Limited (Qunxing) for disclosure of false and misleading information.
SFC’s investigation revealed that Qunxing’s annual turnover was materially overstated and its bank borrowings understated in the company’s IPO prospectus issued in September 2007 – which contained its 2006 financial statements – and its published financial statements during the period of 2007 to 2011.
Following the Court’s approval that the proceedings be disposed of by Carecraft procedure, Poon is disqualified for 2 years from being, amongst others, a director, and being involved in the management of any listed or unlisted corporation in Hong Kong unless with leave of the Court.
Raphael Leung instructed in his sole capacity by Ince & Co represented Poon in the Carecraft procedure and persuaded the Court to carve out 3 companies from the disqualification order.
For Raphael’s full profile, see here
For SFC’s Press Release, see here
The judgment of DHCJ Winnie Tam SC can be found here
