Upload.hk is built by my friend Gary Hui who is an IT expert as well as entrepreneur. He actually runs several IT business and he sent me this yesterday.
Correct me if I am wrong, it is more like rapidshare and other file hosting website. But they do not have google adsense on the website which is the difference. And their business model is free file hosting for registered member is 5GB and premium account is 20GB (HKD$100 / year).