Herb Standard Holdings Limited's Hong Kong IPO prospectus, initially submitted on July 29, 2025, has lapsed as of January 29, 2026, after the standard six-month validity period expired. Hongbo Capital Limited acted as the sole sponsor for the listing application.

According to the prospectus, Herb Standard Holdings is primarily engaged in the development, sale, marketing, and distribution of health and beauty supplements and products in Hong Kong. The group outsources product manufacturing to suppliers, including manufacturers, and distributes its products, which include both its own brands and third-party brands, primarily through Mannings retail stores across Hong Kong.

Data from Frost & Sullivan indicates that, based on the retail value of health and beauty supplements and products in 2024, the group ranked seventh among all local suppliers in Hong Kong, holding a market share of approximately 1.6%.