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Employment visa renewal questions (Hong Kong)

1. My employment visa is up for renewal. The agency handling this informs me just now that HK Immigration will extend the visa only to the expiry of one's travel document (passport in my case). Well, my passport expires in February Protected content getting it renewed before my visa runs out is going to be a challenge.

I can't find anything on the Immigration web site that mentions this requirement. Can anyone here confirm?

2. The company I work for will be acquired in a couple of months. My visa agent says that the new company will need to justify my employment visa as the current company did early in Protected content . Is that true? It's essentially starting over :-(

Please let me know if you have direct experience with either of these situations. It's surprisingly difficult to get accurate information.

Thanks so much!