Renowned independent stock commentator David Webb announced that he will be shutting down "Webb-site."

Prominent independent stock commentator David Webb announced that he will orderly shut down his financial website "Webb-site". In the announcement on the Webb-site, he mentioned that due to health and lifestyle reasons, he hopes to end this unpaid and loss-making work in an orderly manner before his 60th birthday. Webb explained that since 2003, he has spent over HK$10 million to build and operate the database, as well as the opportunity cost of time. Over the years, the database on the website has expanded to include a large amount of information, and some datasets can only be accurately maintained through manual judgment until now. Additionally, Webb revealed that he explored the possibility of moving the database to the University of Hong Kong in 2020, but the specific proposal was ultimately rejected by the university's senior management team. He mentioned the following steps for the future operation of "Webb-site": 1. Starting from March 31 this year, his assistant will stop all manual data collection on directors, supervisors, and their advisors of Hong Kong-listed companies (including bankers, lawyers, accountants, financial advisors, etc.); 2. The director remuneration database project will continue until the end of the financial year on December 31, 2024 (with the deadline for releasing annual reports under listing rules being April 30 this year), while volunteers are required to concentrate on completing and verifying the data sets from 2005 to 2024; 3. Automatic data collection (including the CCASS analysis system, SFC licensed individuals, Hong Kong law firms) will continue until after his death or the first annual server expiration date (October 31). However, if the collection software fails and he has passed away or is too ill to update, certain data sets may be terminated early. 4. When the server is shut down, the Webb-site (including all editorial content since its establishment in 1998) will disappear, but most articles on the website can be found in web archives, hoping to continue operating for a longer period of time. David Webb believes that he and the website have achieved many of the goals set when it was established in 1998, but many problems remain unresolved. Most of the content is in the archives, and if his health allows, he will try to leave behind relevant thoughts through a few articles before he leaves.