龙丰集团递交IPO招股书，为香港最大药妆零售商

Core Viewpoint - Long Fung Group Holdings Limited, based in Hong Kong, has submitted a prospectus to the Hong Kong Stock Exchange for a main board listing, positioning itself as a leading retail pharmacy and drugstore operator in Hong Kong with a significant market share in the sector [1] Group 1: Company Overview - Long Fung Group operates under the "Long Fung" brand with 29 retail stores and various online sales platforms, offering a wide range of drugstore products and consumer goods [1] - The company is projected to be the largest pharmacy retailer in Hong Kong by retail sales in 2024, holding a market share of 5.2%, and is also the largest drugstore retailer by average SKU per store, with approximately 6,500 SKUs available [1] - The flagship store located in Mong Kok has a total floor area of about 17,500 square feet, making it the largest drugstore retail store in Hong Kong by floor area in 2024 [1] Group 2: Product Offering and Supplier Relationships - Long Fung Group's product range includes 11 categories such as traditional Chinese medicine, Western medicine, health supplements, skincare, cosmetics, personal care, baby products, food, pet food, and household items, with over 46,000 product SKUs sold during the reporting period [2] - The company collaborates with over 600 suppliers, including local distributors in Hong Kong and major overseas suppliers from Japan, South Korea, Southeast Asia, Europe, and the United States, with a supply chain office established in Fukuoka, Japan [2] - Long Fung Group maintains long-term partnerships with well-known brands, being the largest purchaser of certain products like infant formula from Meiji and specific cold medicine products from Heping Pharmaceutical in Hong Kong [2] Group 3: Financial Performance and Growth - For the fiscal years 2023 to 2025, Long Fung Group's total revenue is projected to be HKD 1.094 billion, HKD 2.021 billion, and HKD 2.461 billion, respectively, reflecting a strong compound annual growth rate (CAGR) of 50.0% over three years [3] - In contrast, the CAGR for Hong Kong's consumer goods retail sales from 2020 to 2024 is only 3.6%, indicating that Long Fung Group significantly outperforms the market [3] - The net profit is expected to increase from approximately HKD 145 million in the fiscal year 2024 to about HKD 170 million in the fiscal year 2025, representing a growth of 17.9% [3] Group 4: IPO Fund Utilization - The funds raised from the IPO are intended for expanding and optimizing the company's physical and online sales networks, enhancing supply chain capabilities through the expansion of overseas procurement offices in Japan and South Korea, and upgrading IT systems including warehouse management and point-of-sale systems [3] - The company also plans to seek selective strategic investments and acquisition opportunities to further develop its business scale and geographic coverage [3]