“It is intended that the current first team manager, Alex McLeish, will continue in this role, supported by his existing backroom team,” it added.
Grandtop also said that Karren Brady would remain in place as managing director of the club should its takeover succeed.
Grandtop’s directors include the former Liverpool and Real Madrid midfielder Steve McManaman.
The company itself has been loss-making for each of the last four years, losing 91.8m Hong Kong dollars (£7.2m) in the year to the end of March 2009.
Its shares were suspended in Hong Kong ahead of the announcement.
It has taken out a £57m bridging loan to fund the takeover, which will then be paid back using the proceeds of a share offer in Hong Kong.
Mr Yeung will add to the growing list of foreign club-owners in the English Premier League, which includes the Glazer family at Manchester United and Sheikh Mansour Bin Zayed Al Nahayan, owner of Manchester City.
