MarketFactWire
Company Profile

FactWire

FactWire was an investigative news agency headquartered in Kowloon, Hong Kong. Funded by crowdfunding in 2015, FactWire was founded with the initial financial support of 3,300 Hong Kong residents. As a non-profit public service news agency, it was established on 18 August 2015, and became operational on 1 March 2016. FactWire mainly focused on watchdog investigative reporting wired to a large number of Hong Kong's mainstream news outlets. Factwire shut down in 2022.

History
The crowdfunding to establish Factwire surpassed the HK$3 million goal to reach HK$4.75 million via the crowdfunding platform FringeBacker. Train quality exposé In July 2016, the agency published an exposé on the secret recall of Mass Rapid Transit (MRT) C151A trains to their manufacturer, CRRC Qingdao Sifang Co., Ltd. The trains reportedly suffered from a multitude of quality issues including underframe cracking, which can threaten the structural integrity of an entire train car. The agency quoted a former Kowloon-Canton Railway Corporation executive who stated that cracks forming in new components was "very unusual" and a sign of quality issues. A whistleblower emailed the bureau in January 2015, but absent any government intervention the MTR Corporation awarded a HK$6 billion contract for 93 new trains to CSR Sifang in July 2015. The Land Transport Authority blamed the cracks on impurities in the car body, and stated that the trains remained safe for service. The agency denied that its reporting was politically motivated and explained that "every investigative report published by FactWire must be founded on impregnable evidence and cover serious public interests at stake. We will never allow commercial or political considerations to override our professional journalistic judgement." The anonymous message stated "the subway train story has caused a big reaction, someone sent/ sending some trouble your way". The boiler had cracked during testing, and that welding on the component was termed "problematic". Factwire questioned why the nuclear power plant should be allowed to go online despite these defects and plausible danger to nearby neighborhoods. On June 29, 2018, Taishan 1 proceeded to be connected to the grid and became the first EPR to enter commercial operation on December 13, 2018. CGN Power, the plant's major shareholder, did not respond to FactWire's enquiries. == Closure ==
Closure
On 10 June 2022, Factwire abruptly ceased operations. It said on its website, "It is time for us to bid you farewell" and "Termination of Operations. Thank you for your support." The statement briefly referred to the changing media landscape, but did not specify the reasons for the site's closure. Relevant reports pointed out that the news website was hacked a month before the shutdown, resulting in the data of 3,700 subscribers' being exposed. == Awards and recognition ==
Awards and recognition
SOPA Awards 2020 2020 Human Rights Press Awards == See also ==
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