Customs officers and marine police on Sunday said they have arrested a 44-year-old man after seizing around 400 kilogrammes of frozen meat.
In a joint operation on Saturday, the authorities said they spotted several men loading suspected smuggled goods from a private car onto two speedboats in Sai Kung.
They seized the car and frozen Wagyu beef with an estimated market value of HK$2 million.
Officers said they suspect the syndicate had been trying to smuggle the expensive meat into the mainland ahead of the Mid-Autumn Festival.