Source: OT-Team(G)，星岛新闻
Han Academy, a private school in Hong Kong, is facing multiple complaints from parents after failing to refund over HKD 30 million in school development bonds. The school's founder and chairperson, Xu Li, admitted that the non-profit Yili Le Sheng Education Foundation, which operates the school, is burdened with debts of around HKD 100 million and requires five years to resolve its financial troubles.
Han Academy, established in 2017, initially gained a good reputation but has since been accused of breaching contracts. Parents claim they were misled into purchasing school development bonds worth HKD 600,000 each, with promises of refunds that were never fulfilled. 