Hong Kong Pegasus FC (Chinese: 香港飛馬足球會), currently known as Ling Yui Orion FC due to sponsorship reasons, is a Hong Kong football club based in Yuen Long. Founded in 2008, the club currently competes in the Hong Kong Third Division.
TSW Pegasus was established in June 2008, and they had their first season in 2008–09 Hong Kong First Division League with a budget of about HKD$10,000,000.
On 21 December 2008, Pegasus won their first trophy, defeating Sun Hei in the 2008 Senior Shield Final.
In July 2012, the club was renamed as Sun Pegasus following introduction of a new sponsor.
After the 2014–15 season, Sun International Resources Limited withdrew their sponsorship. Their club was renamed Hong Kong Pegasus following a takeover by Canny Leung.
In October 2020, the club was renamed back to TSW Pegasus and returned to Yuen Long Stadium.
After spending 13 years in top flight, Pegasus confirmed their withdrawal from the 2021–22 HKPL season and decided to self-relegate to the Hong Kong Third Division.
In the 2023–24 season, the club was renamed to Ravia Orion FC.
In the 2024–25 season, the club was renamed to Ling Yui Orion FC.