Wall Street Journal · Tracy Qu ·

Shein reports Q2 revenue up 0.9% YoY to $11B and net income down 66% to $228M, in its first report since a Hong Kong IPO; its stock is ~30% below its IPO price

The China-founded company expects the external environment to remain uncertain in the second half of 2026

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Shein reports Q2 revenue up 0.9% YoY to $11B and net income down 66% to $228M, in its first report since a Hong Kong IPO; its stock is ~30% below its IPO price

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Wall Street Journal — Shein reports Q2 revenue up 0.9% YoY to $11B and net income down 66% to $228M, in its first report since a Hong Kong IPO; its stock is ~30% below its IPO price ↗

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Sep 29Sep 30

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Bloomberg: Shein raised $1.7B in its Hong Kong IPO, giving it a $26B market cap, far below its ~$100B valuation in 2022, as growth slows amid tariffs and competition

The Information: Shein ends flat at ~$6.20 per share on its first day of trading on the Hong Kong stock exchange, giving it a $26B market cap after raising $1.7B in its IPO

Bloomberg: Shein lost about $5B in market value since its IPO, dropping to ~$21B, as it finished one of the worst opening weeks after a major Hong Kong listing

New York Times: Following abandoned IPO attempts in NYC and London, Shein is struggling to grow as it nears a Hong Kong listing at a fraction of its peak valuation of $100B

Reuters: Singapore-based Shein is set to price its Hong Kong IPO at ~$6.20, or near the midpoint of its marketed range, raising $1.73B and valuing it at ~$26.5B

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