According to a statement by Hong Kong Exchanges and Clearing, the two firms purchased 371 cultural products such as , constituting 92% of the firms' total assets as of June 2016, but the firms could not prove that any professional appraisal or authentication of the assets in question had been carried out. Subsequent to an expert appraisal of the objects in question, in 2017 and 2018 the firms had impairment losses of over HK$8.4 billion in 2017 and 2018.
According to a statement by Hong Kong Exchanges and Clearing, the two firms acquired 371 cultural goods such as , making up 92% of their total assets as of June 2016, but they could not confirm that any professional evaluation or authentication had been carried out. Following an expert assessment of the objects in question, the firms incurred substantial losses exceeding HK$8.4 billion in 2017 and 2018.