The initial public offering application submitted by LUNG FUNG GROUP Holdings Limited to the Hong Kong Stock Exchange on November 28, 2025, has lapsed as of May 28, 2026, after the standard six-month validity period. DBS Bank served as the sole sponsor for the listing application at the time of filing.

According to the prospectus, LUNG FUNG GROUP is a leading chain retailer of pharmaceuticals, cosmetics, and general merchandise operating under the LUNG FUNG brand and based in Hong Kong. A report by Frost & Sullivan indicates that in 2024, the company was the largest pharmaceutical retailer in Hong Kong by retail sales value, holding a market share of 5.2%. Furthermore, based on the average number of stock-keeping units available per store, it was also the largest drugstore and cosmetics retailer in Hong Kong, with each store offering approximately 6,500 SKUs on average.