Shein is abandoning its plans for an IPO in New York and London to pursue an exclusive listing on the Hong Kong Stock Exchange. The company’s valuation has plummeted from 100 billion dollars in 2022 to roughly 27 billion dollars today, a 73 percent decline. Trading is scheduled to begin on September 1, 2026 under the ticker 0625.HK, aiming to raise approximately 1.77 to 1.8 billion dollars, backed by Goldman Sachs, Morgan Stanley and JPMorgan. The China Securities Regulatory Commission approved the listing on July 10, 2026, following a confidential filing made in mid-2025. The failures in New York and London stem from political concerns over Shein’s supply chain practices, particularly allegations of forced labor linked to Xinjiang. In Q1 2026, Shein posted a net loss of 99 million dollars, compared to a profit of 395 million dollars a year earlier, driven by changes to US import tariffs and decelerating sales growth.
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