New stock news | Longfeng Group submits application to Hong Kong Stock Exchange

According to the disclosure on November 28 by the Hong Kong Stock Exchange, Longfeng Group Holdings Limited (referred to as Longfeng Group) has submitted its application to the main board of the Hong Kong Stock Exchange, with DBS Bank as the sole sponsor. The prospectus shows that Longfeng Group is a leading chain retail drugstore and department store operator based in Hong Kong under the "Longfeng" brand. According to a Frost & Sullivan report, by 2024, the company is the largest drugstore retailer in Hong Kong by retail sales, with a market share of 5.2%; and by the average number of SKUs per store, it is the largest drugstore retailer in Hong Kong, with an average of approximately 6,500 SKUs per store. As of the latest practicable date, the company is committed to providing customers with a wide range of affordable products through its 29 retail stores in Hong Kong and various online sales platforms. The flagship store in Mong Kok Jia Le Fang has a total floor area of approximately 17,500 square feet, making it the largest drugstore retail store in Hong Kong by total floor area according to Frost & Sullivan's data for 2024.