Let $S=\lbrace x_1,\dots ,x_n\rbrace $ be a set of $n$ distinct positive integers and $e\ge 1$ an integer. Denote the $n\times n$ power GCD (resp. power LCM) matrix on $S$ having the $e$-th power of the greatest common divisor $(x_i,x_j)$ (resp. the $e$-th power of the least common multiple $[x_i,x_j]$) as the $(i,j)$-entry of the matrix by $((x_i, x_j)^e)$ (resp. $([x_i, x_j]^e))$. We call the set $S$ an odd gcd closed (resp. odd lcm closed) set if every element in $S$ is an odd number and $(x_i,x_j)\in S$ (resp. $[x_i, x_j]\in S$) for all $1\le i,j \le n$. In studying the divisibility of the power LCM and power GCD matrices, Hong conjectured in 2004 that for any integer $e\ge 1$, the $n\times n$ power GCD matrix $((x_i, x_j)^e)$ defined on an odd-gcd-closed (resp. odd-lcm-closed) set $S$ divides the $n\times n$ power LCM matrix $([x_i, x_j]^e)$ defined on $S$ in the ring $M_n({\mathbb Z})$ of $n\times n$ matrices over integers. In this paper, we use Hong’s method developed in his previous papers [J. Algebra 218 (1999) 216–228; 281 (2004) 1–14, Acta Arith. 111 (2004), 165–177 and J. Number Theory 113 (2005), 1–9] to investigate Hong’s conjectures. We show that the conjectures of Hong are true for $n\le 3$ but they are both not true for $n\ge 4$.