Hong Kong Regulator Initiates Legal Action Against Former Executives of C AUTO INT DECO and Subsidiary

Stock News

Apr 29

The Hong Kong Securities and Futures Commission (SFC) has commenced legal proceedings in the Court of First Instance against former executives of C AUTO INT DECO (00048) and its subsidiary, Man Ka Shing Limited. The individuals involved are former director Wong Ho Yin (male) and former general manager So Lung Ying (female) of Man Ka Shing.

The two are accused of breaching fiduciary duties in connection with alleged fabricated transactions and improper payments. The SFC is seeking disqualification orders against both Wong and So. Additionally, the regulator is seeking a compensation order of HK$14.6 million against Wong. This amount corresponds to the alleged losses and damages incurred by C AUTO INT DECO due to purported improper payments made by Man Ka Shing.

The SFC alleges that between December 2019 and January 2020, Wong signed cheques for three payments totaling HK$14.6 million. These payments were recorded as being made to a mainland China company for food procurement. However, the funds were not used to settle genuine procurement transactions or trade payables, constituting a misappropriation of company funds.

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However, the funds were not used to settle genuine procurement transactions or trade payables, constituting a misappropriation of company funds.</p>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hong Kong Regulator Initiates Legal Action Against Former Executives of C AUTO INT DECO and Subsidiary</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHong Kong Regulator Initiates Legal Action Against Former Executives of C AUTO INT DECO and Subsidiary\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036600163\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock News </p>\n<p class=\"h-time\">2026-04-29 16:38</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>The Hong Kong Securities and Futures Commission (SFC) has commenced legal proceedings in the Court of First Instance against former executives of C AUTO INT DECO (00048) and its subsidiary, Man Ka Shing Limited. The individuals involved are former director Wong Ho Yin (male) and former general manager So Lung Ying (female) of Man Ka Shing.</p>\n<p>The two are accused of breaching fiduciary duties in connection with alleged fabricated transactions and improper payments. The SFC is seeking disqualification orders against both Wong and So. Additionally, the regulator is seeking a compensation order of HK$14.6 million against Wong. This amount corresponds to the alleged losses and damages incurred by C AUTO INT DECO due to purported improper payments made by Man Ka Shing.</p>\n<p>The SFC alleges that between December 2019 and January 2020, Wong signed cheques for three payments totaling HK$14.6 million. These payments were recorded as being made to a mainland China company for food procurement. However, the funds were not used to settle genuine procurement transactions or trade payables, constituting a misappropriation of company funds.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK1144","symbol_name":"机动车零配件与设备","start_time":0,"source_url":"","article_id":"1145176035","we_media_id":"1036600163","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1145176035","pubTimestamp":1777451916,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Stock News","introduction":"Global Stock News First-Time Broadcast","home_visible":1,"id":"1036600163","head_image":"https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a"},"summary":"The Hong Kong Securities and Futures Commission (SFC) has commenced legal proceedings in the Court of First Instance against former executives of C AUTO INT DECO (00048) and its subsidiary, Man Ka...","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK1144":"机动车零配件与设备","00048":"中国汽车内饰"},"translate_title":"香港监管机构对C AUTO INT DECO及其子公司前高管提起法律诉讼","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"00048":1},"content_text":"The Hong Kong Securities and Futures Commission (SFC) has commenced legal proceedings in the Court of First Instance against former executives of C AUTO INT DECO (00048) and its subsidiary, Man Ka Shing Limited. The individuals involved are former director Wong Ho Yin (male) and former general manager So Lung Ying (female) of Man Ka Shing.\nThe two are accused of breaching fiduciary duties in connection with alleged fabricated transactions and improper payments. The SFC is seeking disqualification orders against both Wong and So. Additionally, the regulator is seeking a compensation order of HK$14.6 million against Wong. This amount corresponds to the alleged losses and damages incurred by C AUTO INT DECO due to purported improper payments made by Man Ka Shing.\nThe SFC alleges that between December 2019 and January 2020, Wong signed cheques for three payments totaling HK$14.6 million. These payments were recorded as being made to a mainland China company for food procurement. However, the funds were not used to settle genuine procurement transactions or trade payables, constituting a misappropriation of company funds.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"executive","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}