Hong Kong’s SFC Committee (SFC) has applied for an order by the Court of First Instance for the freezing of the assets intended for compensation to influenced investors in a supposed market manipulation case.
This is part of the SFC’s legal process against the former president and non -executive director of Ding Yi Feng Holdings Group International Limited, 28 other suspects and a corporate entity for a suspected manipulation of the Smartac International Holdings Limited shares between October 31, 2018.
In the legal procedures, the SFC seeks various orders in accordance with Article 213 of the Decree of Titles and Future, including orders to restore the affected counterparties in the alleged case of the market manipulation of the market in their pre-acclaimed positions and to limit the distribution of the 142. millions of dollars.
The first hearing of the application was held today. The Court gave instructions on the submission of evidence and discontinued the hearing on October 24, 2025.
Ding Yi Feng Holdings Group International Limited has changed its name to Carmen Century Investment Limited since July 3, 2025.
Smartac, known as Smartac Group China Holdings Limited, was deleted by the main council of Hong Kong Limited since February 20, 2023.