The hearing date for the securities fraud case involving illegal short selling at the Hong Kong Regional Court is set for August 23, 2027.

On September 4, according to the Hong Kong Securities and Futures Commission, the Hong Kong Regional Court has set the trial date for August 23, 2027, following the denial of securities fraud charges related to illegal short selling under Section 300 of the Securities and Futures Ordinance by Chen Haicheng (male) and Li Baocheng (male). According to the charges, between May 27, 2020, and December 29, 2020, Chen and Li falsely claimed that Chen held sufficient shares from the 28 companies to support the sell orders issued through Chens securities account at Beigelong Securities Limited; however, this was not the case. As a result, the two were able to conduct illegal short selling of the shares of the relevant companies and made a profit of approximately HK$11 million. Chen and Li have been granted bail pending trial, with the conditions that they: (i) must not leave Hong Kong; (ii) surrender all travel documents; (iii) report to the police station regularly; (iv) each post bail in the amounts of HK$200,000 and HK$84,000 respectively; and (v) reside at their declared address and notify the police of any changes to that address.