Former director of the Hong Kong Stock Exchange and independent analyst David Webb, who is known for exposing "mystery stocks," has passed away at the age of 60.

On January 13th local time, David Webb, former director of the Hong Kong Stock Exchange and an independent stock commentator, passed away at the age of 60 due to illness. Webb often singled out listed companies that he believed had faults, the most famous being the 50 "Mysterious Network" companies he named. According to Webb, these networks, composed of brokerages, construction companies, and other companies, shared common owners and business relationships, resulting in artificially inflated stock prices. The Hong Kong Stock Exchange expressed deep sorrow over David Webb's passing, who served as an independent non-executive director of the Exchange from 2003 to 2008. During his tenure, he worked to enhance market transparency, strengthen investor protection, actively fulfill the role of an independent director, and contribute to corporate governance and market development at the Hong Kong Stock Exchange.