Shein Moves Closer to Hong Kong IPO as Growth Slows - Caixin Global

BUSINESS Shein Moves Closer to Hong Kong IPO as Growth Slows By Bao Yunhong Published: Jul. 27, 2026 7:04 p.m. GMT+8 00:00 00:00 / 00:00 您的浏览器不支持 audio 标签。 Listen to this article 1x Subscribe now Listen to the full version Shein has moved a step closer to a Hong Kong initial public offering that could value the fast-fashion giant at about $40 billion, even as its revenue growth and profitability slow. The company’s once-explosive growth has slowed sharply, according to company filings released by the Hong Kong stock exchange on Sunday. Revenue rose from $32.1 billion in 2023 to $41.8 billion in 2025, but annual growth slowed from 41.1% to 8% and fell further to 1.1% in the first quarter of 2026. You've accessed an article available only to subscribers Subscribe today for just $.99. VIEW OPTIONS Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations. Save an extra $50. Introductory offer for new readers. Subscribe now . Share now and your friends will read it for free! Share this article Open WeChat and scan the QR code