Method : Rinse the lotus seeds, snow fungus and dried lily bulbs. Drain well. Soak them in water separately. Lotus seeds need soaking in water at least 3 hours, or overnight. Snow fungus and dried lily bulbs only need soaking for 30 minutes or so. Use a knife or a pair of scissors to trim away the yellow hard ends. Cut into smaller pieces. Set aside.In a large deep pot, pour in the water. Bring it to boil over high heat. Add white lotus seeds. Reduce heat to medium-low. Cook until softened, about 30 minutes. Increase heat to high. Add white fungus and lily bulbs. When it boils again, reduce heat to medium low. Continue to cook about 30 minutes. Add papaya and rock sugar. Cook until the sugar is completely dissolved. Serve hot or cold.