香港最大药妆零售商龙丰集团申港上市 强劲财务增长必成市场焦点

Core Viewpoint - Long Fung Group Holdings Limited, Hong Kong's largest drugstore retailer, has submitted its main board listing application to the Hong Kong Stock Exchange, with DBS Asia Capital as the sole sponsor [3]. Financial Performance - Long Fung Group's revenue is projected to grow from approximately HKD 1.094 billion in FY2023 to about HKD 2.461 billion in FY2025, reflecting a compound annual growth rate (CAGR) of 50.0%, significantly outpacing the Hong Kong retail sector's CAGR of 3.6% from 2020 to 2024 [4]. - The company's gross profit margins have shown consistent improvement over the past three fiscal years, recorded at 24.9%, 29.3%, and 31.6%, with net profit expected to rise from approximately HKD 145 million in FY2024 to about HKD 170 million in FY2025, marking a 17.9% increase [4]. Market Position and Strategy - Long Fung Group has established a comprehensive retail ecosystem in Hong Kong's health, pharmaceutical, and beauty product market, leveraging a three-dimensional strategy of "brand uniqueness, product diversity, and immersive experience" to surpass traditional drugstore retail models [5]. - The average store size exceeds 4,250 square feet, with the flagship store in Mong Kok being the largest drugstore in Hong Kong at approximately 17,500 square feet, featuring 15 registered pharmacists and over 38 professional beauty consultants [5]. Supply Chain and Management - The company's competitive edge is supported by a flexible supply chain and an experienced management team, with long-term partnerships with key suppliers and a procurement office in Japan to stay aligned with emerging product trends [6]. - The founder, Mr. Hsieh Shao-Hai, has over 35 years of experience in the Hong Kong retail drugstore industry, and the core team includes talents from internationally renowned retail groups, combining global perspectives with local consumer insights [6].