Hong Kong entertainer Wong pak-ming has been found guilty of insider trading.
On May 22, Hong Kong’s Wen Wei Po reported that Huang Baiming, a Hong Kong entertainer and former chairman of Tianma Film and television (now renamed“Transmission Entertainment Limited”) , was involved in insider trading at Tianma Film and television, the case was decided today at Hong Kong’s Eastern Law Courts. Judge Gao Weixiong believed that as the chairman of a number of listed companies, Huang Baiming must be cautious in handling relevant matters, and should not announce in his communication that he could buy shares in his company at a certain price, dismissing his explanation as“Absurd and far-fetched”, he was not at all convincing. He refused to accept his evidence and found Huang guilty of instigating or encouraging others to engage in insider trading.
On February 27,2025, Hong Kong’s Securities and Futures Commission issued a notice saying that criminal proceedings would be instituted against Huang Baiming, it refers to insider trading in shares of PASS Entertainment Co. , Ltd. (formerly known as“Tianma Film and Television Culture Holding Co. , Ltd.”) .
The SFC said that between August 25,2017 and October 17,2017, Wong was suspected of encouraging or facilitating another person to carry out a share transaction in Tianma Television, he was chairman and controlling shareholder of the company and had inside knowledge of the deal. According to the SFC, conducting insider trading constitutes an offence under section 291 of the SFO.
Chen Zhenglong, a senior barrister representing the prosecution at the time, said that Huang began instructing his sister to buy shares in Tianma after receiving HK $10M in goodwill payments, according to earlier reports in Hong Kong media. She offered her sister four cheques totalling HK $2m between August and October 2017 before starting to buy shares in Tianma.
In terms of share prices, they rose 51.93 per cent between August 25 and October 172017. On October 17,2017, its share price soared 47.06% in a single day.
It is worth mentioning that just after its share price soared, on October 25,2017, Tianma Film and television announced that Huang Baiming and his concerted action people paid HK $486 million, for HK $486 million to the son of R & F founder Zhang Li. Tianma film shares rose 12.5% the day after the announcement.
According to the data, Huang Baiming was born in April 1946. He is a Hong Kong director, producer, writer and actor. He has worked in film for many years and has participated in more than 100 films, including comedy“Best partner”, “Happy Ghost”, “Happy Family”, action film“Ip Man”, as well as“Bounty hunter”, “Anti-corruption 2” and so on.
Tianma film was listed on the growth enterprise market (GEM) of the Hong Kong Stock Exchange on October 31,2012 and transferred to the main board of the Hong Kong Stock Exchange on January 9,2015. After Huang sold his controlling interest in Tianma film, the company changed its name to pass on Entertainment Ltd. on March 13,2018.