Attacks on journalists in the country continued throughout 2021 and do not appear to be abating.
Stand News chief editors Patrick Lam and Chung Pui-kuen currently await trial while in custody.
Families of victims welcomed the verdict.
Some of the journalists were broadcasting live at the time of their arrests.
The video stated that it was illegal to expel and intimidate students who participated in rallies protesting opposition leader Aleksei Navalny's incarceration.
Radio station owners could face a prison sentence of up to three years, according to a government decree.
Journalists could face prison sentences between 10 and 15 years if they violate the law.