Hong Kong police say they have used 500 police officers against the editorial staff after the newspaper published articles that allegedly violate the new security law, and confirm that four men and a woman between the ages of 47 and 69 have been arrested.
Police also state that they have frozen assets worth 18 million Hong Kong dollars, corresponding to 19.6 million kronor at three companies with links to Apple Daily.
The police also warn the public from disseminating the articles in question, and urge the newspaper's journalists to be careful.
Other raids on Apple daily
More than 100 police officers are also said to have attacked the newspaper's parent company Next Digital, which was searched.
They were arrested under the criminal classification "unauthorized contact with foreign forces".
Beijing's controversial security law has been criticized for restricting Hong Kong's freedoms and impoverishing the region's former relative independence from mainland China.
This is the second time the police have raided the Apple Daily.
Media mogul Jimmy Lai, who founded Next Digital, is already in jail.