Tricky one this, I can't speak from the CX's viewpoint, but I do know the CAD's. The CAD did require to see documentary evidence of passes in all subjects - documentation you do not have if having aquired an ATPL through military exemptions. Last year, such a pilot joined another HK operator. The lack of exam passes did at first seem to be a problem, but after investigation by the CAD they accepted the ATPL.
So there is a precedent and they are aware of the exemption system.