An analyst says the conviction of Hong Kong media tycoon Jimmy Lai underscores the limits of press freedom under the city’s national security law. Lai’s case, the first involving allegations of colluding with foreign forces where the defendant pleaded not guilty, has drawn global attention.br br Observers say the verdict was not unexpected, citing prosecutors’ use of Lai’s public statements and editorial role at Apple Daily to frame the charges. The case has become a key test of Hong Kong’s judicial independence and media freedoms.