Shein, the Singapore-headquartered fast-fashion giant, made a shaky stock market debut on the Hong Kong Exchange, with shares losing 17.5% since Tuesday and declining for a fourth consecutive day. The company reported revenue of $41.8 billion in 2025 and a net loss of $99 million in the first quarter, compared with a profit a year earlier. The United States ended duty-free treatment for low-value imports from China and Hong Kong last May, while the EU scrapped its customs-duty exemption for packages up to 150 euros and introduced a temporary 3-euro duty per item. Nearly 5.9 billion low-value items entered the EU in 2025. Analysts say Shein will need to prove it can compete beyond low prices and find new sources of growth outside its key U.S. and European markets.
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