The Bauhinia Party, a new player on the Hong Kong political scene, has vowed to largely extend the shelf life of the city’s constitutional framework for another 50 years, but the business track record of its founders appears to be far from promising.

One of the goals of the party, established in May and named after the city’s signature flower, is to prolong the current governing principle of “one country, two systems” for another half a century.

It also wants to attract as many as 250,000 members, according to Wong Chau-chi, one of the founding trio, in an interview with the pro-Beijing Sing Tao Daily newspaper.

Wong, who is chief executive of the multimedia firm CMMB Vision, is partnering with Chen Jianwen, chair of beauty product company Bonjour Holdings, and Li Shan, a member of the board of directors at lender Credit Suisse. But the track record of Chen and Wong leaves more questions than answers.

For example, a unit under Bonjour received a request to liquidate as it could not pay off its rent, management fees and air-conditioning charges, amounting to HK$4 million (US$515,990) in August. The cosmetics retailer also was HK$6.8 million behind in arrears over its branches along Nathan Road and in a shopping mall owned by the city’s train operator.

Wong’s CMMB Vision, which develops mobile television and interactive multimedia businesses, could have benefited from the pandemic as companies seek to transform their models.

However, its revenue dropped 8.8% year on year to US$3.03 million in the first six months of 2020, while losses more than doubled to US$15.27 million. Last month, the company could not reach a consensus with its auditors on their fee.

Click here for Chinese version

---------------------------------

Apple Daily’s all-new English Edition is now available on the mobile app: bit.ly/2yMMfQE

To download the latest version,

iOS: bit.ly/AD_iOS

Android: bit.ly/AD_android

Or search Appledaily in App Store or Google Play