Are the case officers are very helpful? could the sponsoring company just call them if their applications still have a chance?
if memory serves me right some have managed to appeal with their sponsoring company adjusting the salary higher and immigration dept approving it but I think it also has to do with what kind of job it is, do they really want to let in a foreigner to do a job that a HK Local would do.
What is the job nature of the post that you are applying to.
Dunno .. but from the looks of it, yes - this is a time waster.
Have a GeoExpat related problem - please create a support ticket.