Pun Lun photographic studio [1864-c.1907]
Pun Lun was a long-lived photographic studio in Hong Kong.
Terry Bennett dates their opening to 1864: https://gwulo.com/node/31857
I've guessed the date they went out of business based on the last photo I've seen from them. If you know of any later photos, please let us know in the comments below.