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Bloomberg quoted news: "Apple Daily" funds only enough to run for a few weeks, intends to borrow Taiwan business crowdfunding

2021-06-23T21:05:32.927Z

The police arrested five senior officials of Next Media, including the editor-in-chief of Apple Daily, for allegedly violating the "Minato National Security Law". The Security Bureau also frozen the assets of three companies related to "Apple" for a total of 18 million yuan for a period of two years.



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Written by: Zhong Yan

2021-06-19 22:04

Last update date: 2021-06-19 22:05

The police arrested five senior officials of Next Media, including the editor-in-chief of Apple Daily, for allegedly violating the "Hong Kong National Security Law". The Security Bureau also frozen the assets of three companies related to "Apple" for a total of 18 million yuan for a period of two years.

"Apple Daily" has continued to publish newspapers in the past two days, but Bloomberg quoted news that the newspaper currently has enough funds to operate normally for a few weeks. It will consider applying for an exemption from the court, and consider launching crowdfunding through Taiwan business to continue its operation.

▼6.18 "Apple Daily" published as usual▼

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Bloomberg quoted news as saying that Apple Daily’s funds are only sufficient for normal operations for a few weeks. In order to continue printing and paying employees’ salaries, it is considering requesting the court to lift funds, and studying the use of Taiwan business to manage electronic donations, using GoFundMe.com and PayPal. Crowdfunding.

The news continued that the management was also reviewing materials such as ink and paper in the printing plant. After several banks indicated that they would not process the company's bank accounts, it was unknown whether the supplier would continue to cooperate or whether it would continue to pay employees' salaries.

Although Next Media still has more than 500 million yuan in cash, Bloomberg News said that it is currently uncertain whether the Security Bureau and the court can successfully withdraw and use the relevant funds under the order of the National Security Law.

Search One Media | "Apple Daily" printed to 500,000 copies of newspapers sold 20 times more than still being swept away

[Pictures] "Apple Daily" published as usual plus printed to 500,000 copies of citizens queuing to buy in the early morning

"Apple Daily" Frozen Assets Arrested by Executive Director of Next Media Lin Zhiyuan: Operational Impact is Greater

Reuters: "Apple Daily" wants to set up a "firewall" to demarcate other businesses from Li Zhiying

▼6.18 "Apple Daily" published as usual▼

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01News

Apple Daily Next Media Li Zhiying Hong Kong Edition National Security Law

Source: hk1

All news articles on 2021-06-23

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