The pro-democracy newspaper will run its last edition on Saturday — signaling the end to Hong Kong's once freewheeling and muckraking reporting environment as well.
The 10 veteran activists will serve up to three years in prison as China continues punishing the organizers of the regionwide demonstrations against Beijing's rule in 2019.
The convictions come amid a crackdown on dissent in Hong Kong and just days after Chinese officials approved a major overhaul of the territory's electoral system that tightens Beijing's control.
The media tycoon was arrested nearly three weeks ago for allegedly violating the terms of his office lease. He was subsequently charged under China's new Hong Kong national security law.
The democracy activist and publisher is perhaps the most prominent individual to be charged under China's controversial new law, which takes aim at dissent in nominally semi-autonomous Hong Kong.
The decision means at least five more months in custody for Lai, who publishes a prominent pro-democracy newspaper. His arrest comes amid a sweeping crackdown on dissent in Hong Kong.
Jimmy Lai, a Hong Kong media tycoon known as a fervent supporter of democracy and human rights, is the most prominent figure arrested thus far under China's new national security law.