New stock news: Longfeng Group is planning to be listed in Hong Kong as early as May, aiming to raise $100 million.

According to reports, Hong Kong pharmacy chain Longfeng Group is set to be listed in Hong Kong as early as May, with plans to raise $100 million (approximately HK$7.8 billion). It is reported that Longfeng Group submitted its listing application to the Stock Exchange last November, with DBS Bank as the sole sponsor. Founded in 1992, Longfeng Group currently operates 29 physical retail stores in Hong Kong, with a total available floor area of over 123,000 square feet. Of these, 5 are located on Hong Kong Island, 10 in Kowloon, and 14 in the New Territories, with an average store size of approximately 4,254 square feet. Currently, Longfeng Group is 100% owned by founder, chairman and CEO Xie Shaohai, his wife Chen Wanfang, and daughter Xie Cuiying. According to a Frost & Sullivan report, by 2024, Longfeng Group is the largest pharmaceutical retailer in Hong Kong in terms of retail sales, with a market share of 5.2%; and in terms of average SKU availability per store, it is the largest cosmetics retailer, with an average of around 6,500 SKUs per store. For the fiscal years 2023, 2024, 2025, and the first quarter of 2026, the company's revenue is approximately HK$1.094 billion, HK$2.021 billion, HK$2.460 billion, and HK$697.4 million respectively; and the annual/period profit is approximately -HK$27.14 million, HK$145 million, HK$170 million, and HK$47.764 million respectively.