The Securities and Futures Commission of Hong Kong has obtained a two-year disqualification order against the former Financial Director and Company Secretary of China Star Paper.

On May 13, 2026, the Hong Kong Securities and Futures Commission issued a statement that the Securities and Futures Commission obtained an order from the original litigation court to disqualify Poon Tsz Hang (male), former CFO and company secretary of Fungstar Paper Holdings Limited (Fungstar). According to the court order, Poon is prohibited, without the court's permission, from acting as a director or liquidator of any listed or non-listed corporation in Hong Kong, or as a receiver or manager of the property or business of such corporation, or from participating in the management of the corporation, for a period of two years. He has also been ordered to pay the legal costs of the Securities and Futures Commission in the relevant legal proceedings. In September 2019, the Securities and Futures Commission initiated legal proceedings against Poon and others for disclosing false and misleading information under Section 214 of the Securities and Futures Ordinance. Previously, in February 2018, the court had issued orders to Fungstar, former chairman Zhu Yuk Kwok (male), and former vice chairman Zhu Moh Kwan (his son) under Section 213 of the Securities and Futures Ordinance, requiring them to compensate investors. A trustee appointed by the court had completed the distribution of a total of HK$92 million in compensation to around 27,000 eligible investors in January 2023. The investigation conducted by the Securities and Futures Commission found that Fungstar had significantly overstated its annual turnover in its prospectus for its initial public offering in September 2007, which included its 2006 financial statements, and in its financial statements published from 2007 to 2011. Additionally, the company had significantly underreported its bank borrowings. During his tenure as the top financial officer of Fungstar, Poon failed to fulfill his duties and responsibilities to oversee the company's accounting and financial functions, as well as internal control measures. If Poon had properly carried out his duties and responsibilities as the CFO of the company, he should have reasonably detected the improper financial practices in Fungstar's financial statements. Furthermore, as the company secretary of Fungstar, Poon also failed to fulfill his duties in handling the restructuring of Fungstar's subsidiary companies. The restructuring revealed a sudden deterioration in Fungstar's financial condition, but Poon did not timely inform the company's board of directors or fulfill his reporting and compliance responsibilities.