The Securities and Futures Commission of Hong Kong is seeking a court order to freeze the assets of individuals suspected of manipulating the shares of Global Smart Holdings Limited, amounting to up to HK$ 82.4 million.

According to the website of the Securities and Futures Commission of Hong Kong, the Securities and Futures Commission has applied to the original court for an asset freezing order. The assets in question are intended to be used to compensate investors affected by a market manipulation case. This action is part of the legal proceedings initiated by the Securities and Futures Commission against Dingyifeng Holdings Group International Limited former chairman and non-executive director, 28 other suspects, and a corporate entity. The reason for this is their alleged market manipulation of shares in Global Smart Holding Limited between October 31, 2018 and March 11, 2019.