Core Viewpoint - Long Fung Group, a leading pharmacy chain in Hong Kong, has submitted a listing application to the Hong Kong Stock Exchange, with the exclusive sponsor being DBS Bank [1] Company Overview - Long Fung Group is the largest retail pharmacy in Hong Kong by retail sales, holding a market share of 5.2%, and is the second-largest retailer of health, medical, and beauty products with a market share of approximately 5.8% [1] - The company operates 29 physical retail stores in Hong Kong, with a total available floor area exceeding 123,000 square feet [1] - Long Fung's mobile application has over 200,000 members as of last November [1] Financial Performance - For the fiscal year ending March 2025, Long Fung reported a profit of HKD 170 million, a year-on-year increase of 17.92%, with revenues of HKD 2.46 billion, up 21.76% [1] - In the first quarter of the fiscal year 2026, ending June 30, the company achieved a profit of HKD 47.76 million, a year-on-year increase of over 131%, with revenues of HKD 697 million, a growth of 42.48%, primarily driven by same-store sales growth and contributions from new stores [1] Expansion Plans - The funds raised from the listing will be primarily used to expand and enhance the store and online sales network, as well as for recruitment and training, including plans to open 11 new stores [1]

Core Insights - The "Double Eleven" shopping festival has become a significant indicator for cross-border e-commerce, with the Henan Free Trade Logistics Park experiencing a peak in activity, processing over 200,000 orders on the day itself [5][3] - The average value of outbound packages has increased to over 300 yuan, reflecting a shift from price competition to value competition in the market [5] - The cross-border e-commerce import and export volume in the Henan Free Trade Logistics Center has exceeded 24.3 billion yuan this year, marking a nearly 24% year-on-year growth [5][10] Logistics and Operations - The logistics park employs around 700-800 workers who are engaged in various processes such as order processing, picking, packing, and shipping [3] - The logistics operations involve collaboration with multiple e-commerce platforms, including major players like JD.com and Pinduoduo, covering a wide range of product categories [3][5] - The Zhengzhou Airport has achieved a cargo throughput of 825,200 tons this year, a 24.76% increase compared to the previous year, with international cargo accounting for over 60% of the total [7] Trade and Economic Growth - Zhengzhou's foreign trade import and export total reached 433.25 billion yuan in the first three quarters, with a year-on-year growth of 25.3%, leading the central region [10] - The city has seen a significant increase in exports of computer and communication technology products, mobile phones, and automobiles, which are key drivers of this growth [10] - The development of the "Digital Silk Road" and the expansion of international logistics routes have contributed to the acceleration of cross-border trade [5][8]