“Shin” reports a quarterly loss of $99 million

Chinese company Shein reported a net loss of $99 million in the first quarter of 2026, compared to a net profit of $395 million in the same period last year, according to financial disclosures made in preparation for its anticipated initial public offering on the Hong Kong Stock Exchange. The results reflect the pressures facing Shein amid rising costs, slowing growth momentum, and tightening regulatory restrictions in its key markets, leading to a reduction in its expected valuation for the IPO to between $40 billion and $50 billion, down from an estimated valuation of around $100 billion during a funding round in 2022. Shein has not disclosed the size of the offering, the share price, the listing timeline, or the target amount to be raised. The current disclosure marks a key step ahead of the start of investor roadshow presentations.