The Hong Kong Securities and Futures Commission obtained Court of First Instance orders against three former directors and senior executives of Superb Summit International Group Limited, requiring them to pay a total of HKD 595 million in compensation to the company for fraudulent acquisition schemes and disqualifying them from management roles for up to 15 years. The ruling concludes the SFC’s legal proceedings against former directors and officers of Superb Summit for misconduct. The court found that Yang Dongjun, a shadow director who controlled a 22.6% stake, concealed his personal interests in a 2009 acquisition of a target purported to hold forestry assets that did not exist, leading to losses of HKD 347 million. It also held that Yang masterminded a 2014 acquisition involving purportedly grossly overvalued engineering technology, resulting in the misappropriation of HKD 248 million, with Wu Tao (former executive director) playing an active role and Chan King Chung (former chief financial officer and company secretary) involved. Yang was ordered to pay HKD 347 million, while Yang, Wu and Chan were ordered to pay HKD 248 million on a joint and several basis; the court disqualified Yang for 15 years and Wu and Chan for 12 years and ordered the trio to pay the SFC’s costs, with the disqualification orders banning them from acting as directors or being involved in corporate management in Hong Kong or elsewhere. In the same proceedings, the SFC previously obtained disqualification orders against 10 former directors in June and August 2025, with bans ranging from two and a half years to 10 years.

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