Hong Kong's FactWire News Agency said on Friday that it had ceased operation, without giving a clear account of the reason why.

In an online statement, the investigative news outlet said it was time to bid its readers farewell.

"In recent years, the media has contended with great change. Despite having wrestled many times with the difficult decision as to whether to continue our journalistic work, we had always come to the same affirmative conclusion: to stand fast to our core values and beliefs, and to always report the facts," the statement read.

"But to every thing there is a season, and a time to every purpose. It has, at last, come time to end our journey."

The publicly funded outlet said it had done its best to stay afloat, while adhering to the highest standards of journalistic integrity.

"At one point, FactWire downsized to just two employees. But thanks to the continual and generous support of you, the public, we were able to navigate our dire financial straits," the statement said.

The agency thanked its supporters, staff and "all those who offered their criticism and scrutiny", adding that its workers would be dismissed in accordance with pre-established procedures and monthly subscriptions were being suspended as of Friday.

Founded in 2015 with the support of 3,300 donors, FactWire put out a series of reports, with the latest one published in May revealing that a version of the LeaveHomeSafe app had a facial recognition tool. The government later said an update would be issued to the app to remove the unintended function.

The Journalists Association said it is deeply saddened by FactWire's closure.

In a statement, it said the media industry in Hong Kong has seen major shifts amid political changes, and that the closure of a number of organisations reflects the reality of press freedom.
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Last updated: 2022-06-10 HKT 22:30