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Shein Flags Tariff Hits After Posting Quarterly Loss Ahead of Hong Kong IPO
Shein said 2025 revenue rose 8% to $41.85 billion while net income fell 38.7% as it prepares for a Hong Kong listing.
- On Sunday, July 26, 2026, Shein released a draft prospectus for its Hong Kong IPO, reporting a US$99 million quarterly loss for early 2026 compared to US$395 million in net income the previous year.
- Financial filings showed Shein's 2025 net income fell 38.7 per cent to US$2.064 billion, while annual revenue grew 8 per cent to US$41.8 billion, a slowdown from the 20.7 per cent growth seen in 2024.
- Slowing sales followed the removal of the de minimis import duty exemption, which Shein said had an "adverse impact" on sales; The European Union also imposed new fees on low-value e-commerce imports in July.
- Seeking a valuation between US$40 billion and US$50 billion, Shein appointed Goldman Sachs, Morgan Stanley, and JPMorgan as joint sponsors for the listing following China Securities Regulatory Commission approval on July 10.
- Operational margins dropped to 2.9 per cent in the first quarter as revenue in Shein's biggest market fell 14.3 per cent, reflecting heavy reliance on Chinese central warehouses accounting for over 90 per cent of net revenue.
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12 Articles
12 Articles
The online fashion retailer Shein has recently received permission for an IPO in Hong Kong. However, new financial data from the Group show a negative picture.
·Düsseldorf, Germany
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The Economic Times+4 Reposted by 4 other sources
Shein flags tariff hits after posting quarterly loss ahead of Hong Kong IPO
The retailer won approval from the China Securities Regulatory Commission for its Hong Kong listing on July 10, clearing the way for a listing after failed attempts in New York and London.
·Mumbai, India
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After failed attempts at a stock market listing in New York and London, the online retail giant is set to list on the Hong Kong stock exchange. The draft prospectus provides insight into the company's latest financial figures.
Coverage Details
Total News Sources12
Leaning Left2Leaning Right3Center3Last UpdatedBias Distribution38% Center, 37% Right
Bias Distribution
- 38% of the sources are Center, 37% of the sources lean Right
38% Center
L 25%
C 38%
R 37%
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