Shein has disclosed a £74.2 million ($99 million) quarterly loss in new Hong Kong IPO filings, laying bare how tougher US tariffs and rising costs are hitting one of the world's biggest fast‑fashion brands. The reversal from a £296 million ($395 million) profit a year earlier lands just as the company prepares a closely watched share sale that could value it in the tens of billions of dollars.
The draft prospectus, lodged with the Hong Kong Stock Exchange, shows Shein's profits coming under pressure after the United States ended duty‑free treatment for low‑value imports and the retailer booked a large accounting charge tied to investor shares. The document details how the end of the de minimis exemption for packages worth up to £591 ($800) from China and Hong Kong has raised the cost of shipping the low‑value orders that underpin Shein's bargain‑app model.
