Shein, the online fast fashion retailer, experienced a 10% drop in its share price following its stock market debut in Hong Kong today, 1 September 2026. The shares later recovered some ground but still closed 4% below their offer price.
The company's shares were priced at HK$48.56, giving the business a valuation of just over $26bn. Trading concluded with the share price at HK$46.62.
Leigh Gui, Shein's chief financial officer, marked the start of trading by stating, “Let global consumers enjoy the sound of fashion.” This launch follows previous plans for listings in New York and London, which faced regulatory and supply chain scrutiny.
The decline in value is reportedly influenced by global regulatory changes impacting its business model, which relies on tax breaks for low-value imported goods shipped from China. Shein recorded a loss of $99m in the first three months of this year, compared to a net income of $395m in the previous year, after the US removed its “de minimis” import duty exemption.
The EU introduced a €3 duty on small parcels from outside the bloc in June and plans to phase out the loophole. The UK has also stated its intention to do the same by October 2028.