香港最大药妆店“龙丰集团”冲击港股IPO，拥有29家零售店铺

Core Viewpoint - Lung Fung Group Holdings Limited has submitted an application for listing on the Hong Kong Stock Exchange, with DBS acting as the sole sponsor. The company is a leading retail pharmacy and cosmetics operator in Hong Kong, aiming to expand its market presence and product offerings. Group 1: Company Overview - Lung Fung operates under the "Lung Fung" brand and is the largest pharmacy retailer in Hong Kong by retail sales, holding a market share of 5.2% as of 2024 [3] - The company has 29 retail stores in Hong Kong and various online sales platforms, providing a wide range of products [3][4] - Lung Fung's flagship store in Mong Kok is the largest cosmetics retail store in Hong Kong by total floor area, measuring approximately 17,500 square feet [3] Group 2: Product Range and Supply Chain - The company offers a diverse range of products across 11 categories, including traditional Chinese medicine, Western medicine, health supplements, skincare, cosmetics, and pet products [4] - Lung Fung has established over 40 private label brands and offers more than 700 SKUs under these brands as of Q1 2026 [5] - The company sources products from over 600 suppliers globally, including local distributors and major suppliers from Japan, Korea, Southeast Asia, Europe, and the United States [5] Group 3: Financial Performance - Lung Fung's revenue grew significantly from HKD 1.094 billion in FY2023 to HKD 2.461 billion in FY2025, with a compound annual growth rate (CAGR) of 50.0% [8] - The company recorded a net profit of HKD 145 million in FY2024, with a net profit margin of 7.2%, and further increased to HKD 170 million in FY2025 [8] - For Q1 FY2026, the profit reached HKD 47.8 million, a 130.7% increase from Q1 FY2025, with a profit margin of 6.8% [9] Group 4: IPO Fund Utilization - The funds raised from the IPO are intended for expanding and optimizing both physical and online sales networks, including opening up to 11 new retail stores in Hong Kong by March 31, 2029 [9][10] - The company plans to invest in brand management and marketing to enhance public awareness and effectiveness of promotional activities [9] - Additional funds will be allocated for upgrading IT systems, enhancing supply chain capabilities, and seeking strategic investment opportunities [10]