Chairman of Sino-i.com Yu Pun-hoi has been fined by a Hong Kong court for a delay in reporting the trading of his company's shares. In a separate announcement, Sino-i.com said the company and its directors, including Mr Yu, might face action by the stock exchange over delays in filing its audited financial statement and annual report. The Securities and Futures Commission said yesterday it had successfully prosecuted Mr Yu for breaching the Securities (Disclosure of Interests) Ordinance. Mr Yu pleaded guilty to two summonses relating to his late disclosures to the stock exchange of disposals of 10 million shares in Sino-i.com on July 12 last year and three million shares on August 11 last year. According to the disclosure ordinance, a company director or major shareholder must report to the exchange within five trading days after they have bought or sold more than a 1 per cent stake of the company. Polly Lo, a Magistrate at Western Magistracy, fined Mr Yu a total of HK$20,000 and ordered him to pay costs of HK$14,990 to the SFC. In a separate move, Sino-i.com, an information and application services provider, said the stock exchange had indicated that it reserved the right to take action against the company and its directors. This was because the company had missed yesterday's deadline for reporting its audited financial statement and annual report for the year ending on March 31. Listing rules require a listed company to release an audited report four months after its financial year ends. However, the company said it could only file the audited report on August 22. It said that following the acquisition last year of 75.96 per cent of Leading Concept Holding, which was undergoing cost-cutting and debt restructuring, its audited report had not yet been completed. Yesterday Sino-i.com only give an unaudited account that it had a net profit of HK$146.33 million, up 204 per cent over the previous year.