Hong Kong police are searching the city for at least five suspects involved in the robbery of HK$1 million (US$127,800) from a mainland Chinese man at an industrial building in Hung Hom on Thursday.
Police said the hold-up took place in Hang Fung Industrial Building on Hok Yuen Street at around 5.14pm.
The victim was a 41-year-old man and held a two-way permit, a mainland-issued travel document that allows holders to enter Hong Kong, the force added.
According to the force, a preliminary investigation found the man had brought the money to the building’s ninth floor to take part in a cryptocurrency transaction.
A police spokesman said officers were looking for five men thought to be between the ages of 30 and 40, with two of the group carrying knives during the hold-up.
No casualties were reported in the incident, he added.
Robbery in Hong Kong is punishable by up to life in prison.
Police handled 97 robberies last year, an increase of 26 per cent from the 77 cases logged in 2022.
