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To-be Listed
Name
/
Code
Industry Offer Price Lot Size Entry Fee Closing Date
Grey Market Date
Listing Date
Shougang Lanzatech
02553.HK
Diversified Chemicals 14.6-17.1 200 3,454.49 2026/05/29 2026/06/02 2026/06/03
Dajin
01081.HK
Environmental Utilities N/A 100 6,706.97 2026/06/02 2026/06/04 2026/06/05
LongBio-B
01779.HK
Biotechnology - Pharmaceuticals 96.06 50 4,851.44 2026/06/02 2026/06/04 2026/06/05
Lung Fung Group
02290.HK
Beauty & Toiletries Products Retail 5.18-6.38 500 3,222.17 2026/06/02 2026/06/04 2026/06/05
Summary
We are a leading Hong Kong-based chain retail store of beauty, health and pharmaceutical products. According to Frost & Sullivan, in 2024, our Group ranked second among beauty, health and pharmaceutical product retailers with a market share of 5.8% in terms of retail sales value in Hong Kong; and we were the largest pharmaceutical product retailer by retail sales value in Hong Kong, with a market share of 5.2% and also the second largest pharmaceutical and health product retailer by revenue in Hong Kong, with a market share of approximately 4.2%. We focus on offering a wide variety of value-for-money products to our customers through our 31 retail stores in operation in Hong Kong under our ‘‘Lung Fung’’ (龍豐) brand as at the Latest Practicable Date and our various online sale platforms. Our flagship store at Gala Place in Mong Kok offers a spacious shopping environment with GFA of approximately 17,500 sq.ft..

We offer a wide variety of beauty products, health products, pharmaceutical products and other consumer goods such as household and daily essentials and food products, covering 11 categories, namely proprietary Chinese medicines, western medicines, health supplements, skincare, cosmetics, fragrances, personal care, maternal and infant products, food, pet food and household daily necessities.

We procure products from a large number of suppliers from around the world. As at 30 November 2025, we had over 600 suppliers including local distributors in Hong Kong, and overseas suppliers mainly located in Japan, South Korea, Southeast Asia, Europe and the U.S.. We strive to source quality products that cater to the popular demands of our target customers in a timely manner and we have set up a procurement office in Fukuoka, Japan to source local products that we believe appeal to our target customers. We strive to foster sustainable and collaborative partnerships with our suppliers to ensure product quality and stability of supply. Our Directors believe that our diversified network of suppliers gives us an edge in maintaining a quality, trendy and broad product mix at competitive prices which in turn strengthens our leverage in the market. We ensure the quality and authenticity of such products through our well-established suppliers network and stringent quality control procedure. We have maintained amicable direct business relationship with well-known brands. For instance, based on information provided by the relevant supplier, we were the top purchaser of Friso’s infant formula products in 2022 to 2024 in Hong Kong in terms of Friso’s annual total sales value to traditional sales channels such as pharmacies, and we were the top purchaser of Fortune Pharmacal’s Coltalin 36S, Coltalin-GP Extra 36S, Extra Fast Coltalin-GP 36S and Coltalin-GP Extra 24S products in 2022 to 2024 in terms of Fortune Pharmacal’s annual total sales value to pharmacies in Hong Kong.

For FY2023, FY2024, FY2025 and 8MFY2026, our total revenue was HK$1,094.0 million, HK$2,020.7 million, HK$2,460.5 million and HK$2,035.1 million, respectively, representing a CAGR of 50.0% over the three full financial years. Our year-on-year same-store sales growth amounted to 64.2% from FY2023 to FY2024, while a same-store sales drop was recorded from FY2024 to FY2025. Our same-store sales remained stable for 8MFY2026 compared to 8MFY2025. Our revenue growth was primarily attributed to the opening of new stores and we have opened one, three, nine and six new stores in FY2023, FY2024, FY2025 and from 1 April 2025 to the Latest Practicable Date, respectively. We recorded a growth of 95.8% in terms of the revenue generated from the beauty, health and pharmaceutical product sector between 2023 and 2024, significantly outpacing the industry growth rates for the sector of 19.0% and 6.2% in 2023 and 2024, respectively.



Source: Lung Fung Group (02290) Prospectus (IPO Date : 2026/05/28)
Listing Market MAIN
Industry Beauty & Toiletries Products Retail
Background Others
Major Business Area Hong Kong
Corporate Information
Substantial Shareholders Tse Siu Hoi (75.00%)
Directors Tse Siu Hoi (Chairman and Chief Executive Officer and Executive Director)
Tse Chui Ying (Executive Director)
Chu Woon Ming (Independent Non-Executive Director)
Woo Pui Yan Joyce (Independent Non-Executive Director)
Yau Sheung Yu (Independent Non-Executive Director)
Company Secretary Lam Yin Ling
Principal Bankers The HongKong and Shanghai Banking Corporation Limited
Hang Seng Bank Limited
DBS Bank (Hong Kong), Limited
Chong Hing Bank Limited
Bank of China (Hong Kong) Limited
Solicitors Conyers Dill & Pearman
Deacons
Ms. Queenie W.S. Ng
Jincheng Tongda & Neal Law Firm
Auditors Deloitte Touche Tohmatsu
Registered Office 5/F, Lung Fung Group Centre, 23 Yip Cheong Street, Fanling, New Territories, Hong Kong
Share Registrars Tricor Investor Services Ltd. [Tel: (852) 2980-1333]
Share Registrars Tel No (852) 2980-1333
Internet Address https://www.lungfung.hk
Email Address contactus@lungfung.hk
Tel No (852) 5130-4102
Fax No
 
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