Shein profits slump in fresh challenge to long-planned London IPO

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Shaining’s profit has dropped more than a third of last year, adding the challenges of the fast fashion group before a long -planned floture, which will be one of the largest in the London Stock Exchange this decade.

The net profit of the Singapore-based group has decreased by about 5 percent in 2021, it has suffered in a difficult final, and two people who have been aware of the contest from the rival Temu have told the Financial Times.

According to the people, sales for the entire year have increased by 5 percent to $ 1 billion, one of which has added that these statistics come from internal estimates before final accounts.

As a non -governmental organization, Shean does not show the profit direction, but the statistics of 2021 have been much lower than $ 1.5 billion and $ 45 billion dollars in the company, the company estimated for 2021 in the presentation to investors in early 2021, which was seen. The

Shein did not respond to any request for the comment.

The lower profit is highlighting the challenges of Shaine because it tries to win the regulatory approval for the London list and navigates geo -political changes that have put pressure on its evaluation.

Shin was priced at $ 66 billion during his recent fund in 2021, but some investors and other stakeholders are pressing the group to cut its evaluation to about $ 30 billion, according to the two familiar with the situation, a step that can help complete it. An initial public offer in the first half of this year.

Sheen, which sends a direct cheap clothing to the Chinese factories around the world, told investors earlier that a list of people with discussion knowledge could happen as well as in April.

According to the two familiar with the process, an IPO can now be pushed in the second half of this year after the decision to discount the tariff used by Shaine while selling US President Donald Trump to American customers.

Trump this month End D Minimis Rules that allow packages to be imported less than $ 800 without allowing to be imported to the United States. He also hit Chinese products with an additional 10 percent tariff.

Hold the implementation of de minimis change, however Analysts expect It is for the products sold by Shane and Temu to run more prices.

The delay in the IPO in the second half of the year will force new documents to renew new documents with UK controllers.

Shane filed a secret IPO papers to British regulators last year before the new UK list was introduced. However, a transition period is about to end in July to finish the IPO processes that have been kicked before new rules are launched.

Refining will be a basically systematic step, three senior corporate lawyers in the UK say, but the possibility that the company will miss the window to depend on its original filing, highlighting how to enroll.

Shein first planned to become universal in New York in late 2021, but was introduced to the UK after leaving by the US Securities and Exchange Commission. The list of uncertainty over whether the approval of London and Beijing is approved is overwhelming.

Shayn’s profit is the fall of the group fighting from Temu, which has made a replica of the shipping model of cheap Chinese -made products for buyers abroad. Temu has won over some of Shin’s suppliers in China and the competition has also driven Shin Air freight spent And MarketingThe

By the end of 2021, Shain responded briefly outside of fashion, responding to Temu’s threat, which has previously reported that Shane’s profitability has decreased. Shein has since rejected its original business.

Shin Have plow Lobbing in Western capitals from Washington to London, including the money to be Trump’s loyal Kash Patel to become his main organization Elite Depot consultant. Patel has resigned as a consultant before his recent confirmation as director of the FBI, but he holds shares in the company, which is worth $ 1mn $ 5 million.

Evan Livingston’s Additional Report