Hong Kong’s Television Broadcasts Ltd (TVB) is denying management changes, telling the Hong Kong Stock Exchange that the market speculation is “unfounded” and that the current management team has the board’s full support.

A voluntary statement, released on Friday after separate internal letters were sent to staff earlier in the week, followed days of high interest and a falling stock price that followed rumours of multiple management changes resurfaced and spread on social media.

TVB, which has faced similar speculation for months, said unequivocally that there was “no change in management”.

The company also said that its Hong Kong advertising business “continues to recover, resulting in increased revenue and growth in the number of advertisers” and that its mainland China business had expanded.

The company added that its financial performance was improving and that it maintained the “largest market share in TV ratings and is the most influential media in Hong Kong”.

“The management team will continue to navigate the evolving media landscape and seize new growth opportunities. Their expertise and experience will propel the company forward, ensuring the delivery of high-quality content to our viewers,” acting company secretary Chan Shu Hung said.