SFC obtains two-year disqualification order against former financial controller and company secretary of Qunxing Paper Holdings Company Limited

On 13th May 2026,The Securities and Futures Commission (SFC) secured a two-year disqualification order against Mr. Poon Tsz Hang, the former Financial Controller and Company Secretary of Qunxing Paper Holdings Company Limited which was issued by the Court of First Instance. The order prohibits Mr.Poon from holding management or directorial roles in Hong Kong due to his significant failure in financial oversight that occurred in the Qunxing Paper Holdings Company case in 2019. Inside the case, The SFC’s investigation revealed that Qunxing Paper Holdings Company materially overstated turnover and understated bank borrowings in its 2007 IPO prospectus and subsequent financial disclosures through 2011. As the senior finance officer, Mr.Poon was found negligent in his fiduciary duties regarding internal controls and accounting functions on not discovering those relevant financial reporting irregularities. Furthermore, Mr. Poon as a company secretary has failed to report a subsidiary restructuring signaled a dereliction of duty concerning the company’s deteriorating solvency. Therefore, a $92 million investor compensation scheme from the company and further disqualification orders to Mr.Poon were appointed by the court as enforcement.This underscored the SFC’s commitment to executive accountability, investor interest and the preservation of market integrity through rigorous financial stewardship and reporting standards.
Source: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=26PR68