Unknown location.
There was a Tai Wo Compradore on Hankow Road, but this doesn't look like this street. Possibly power lines of the tram are on the photo.
Here's a 1954 directory that lists both Feng Chih Dental Supply Co. and Tai Wo Compradore at 169 Des Voeux Road Central.
That would make the pillar on the left edge of the photo part of the Sincere Building. I think that pillar with the Sang Loong & Co. next to it can be seen in this photo at maximum zoom: https://collections.lib.uwm.edu/digital/collection/agsphoto/id/23622
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DVRC
Here's a 1954 directory that lists both Feng Chih Dental Supply Co. and Tai Wo Compradore at 169 Des Voeux Road Central.
That would make the pillar on the left edge of the photo part of the Sincere Building. I think that pillar with the Sang Loong & Co. next to it can be seen in this photo at maximum zoom: https://collections.lib.uwm.edu/digital/collection/agsphoto/id/23622