On 20 March 2026, HK SFC announced that an application by the Department of Justice to transfer the securities fraud case to the District Court for criminal proceedings was granted.
- This marks the first time in which a criminal prosecution for securities fraud involving illegal short selling will be held in the District Court.
- Bail was also extended to Mr. Chan Hoi Shing and Mr. Li Po Ching provided they do not leave Hong Kong, surrender all travel documents and post bail of HKD 280K each.
- They must also report regularly to the police and reside at their reported residential address.
- The first hearing in the District Court will take place on 9 April 2026.
