Former editor-in-chief Chung Pui-Kuen and former acting editor-in-chief Patrick Lam were arrested in 2021. They have previously denied the allegations of incitement.
The convicted risk imprisonment for up to two years and fines of 5,000 Hong Kong dollars, approximately 6,500 Swedish kronor. The sentence is not expected to be announced on Thursday.
The trial has been the first to deal with Hong Kong's media since the city was handed over to China in 1997 after being a British colony. The verdict is seen as a signal of the direction media freedom will take in Hong Kong in the future.
Stand News was one of Hong Kong's last media outlets that openly criticized the government during the widespread protests of the democracy movement in 2019.
Hong Kong has long been a self-governing special administrative region in China. In recent years, Beijing has strengthened its grip on the financial metropolis.