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

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Shein’s profit has decreased more than a third compared to the previous year, adding Fashion Group’s rapid challenges a long-planned flotation, which will be on the London Stock Exchange this decade.

In 2024, the net profit of a group based on Singapore has decreased by almost 40 percent to $ 1 billion, as it has suffered from a difficult final quarter and competing competitively from a competitor to the question.

The sale of full year has increased by 19% to $ 38 billion, one of which added that the numbers are from internal predictions before the accounts.

As a private company, Shane does not publish profit guidance, but the 2024 figures are much lower than 4.8 billion dollars in net profit, and at the beginning of 2023, presenting investors.

The building did not answer the comment request.

The lower profits highlight the challenges of Sheane, as it tries to win the London listing and navigating geopolitical changes that have put pressure on its assessment.

During the last fund in 2023, Shane was estimated at $ 66 billion, but some investors and other stakeholders put pressure on the group to reduce its assessment, which can help it the initial public offer this year. in the semester.

Shane, who delivers cheap clothes, directly drawn to the buyers of the world in China’s factories, told investors that the listing could take place in April according to the knowledge of the discussions.

But the IPO can now be pushed in the second half of this year, US President Donald Trump to tighten tariff resignation when selling US customers.

Trump This month ended Well Minimis Coman, which allows less than $ 1,000 packages that need to be imported to the United States without wearing responsibilities. He also hit Chinese products with an additional 10 percent tariff.

The implementation of the change in the De Minimis is holding, but Analysts expect It is higher for the products sold to Sheane and Demu.

In the second half of the year, the IPO delay will force the company to restore fresh documents with the UK regulators.

Shane presented secret IPO documents with British regulators last year before the introduction of new British listing rules. However, a transitional period to complete IPO processes, which has started before the start of the new rules in July.

The licensee would be mainly procedural steps, said three senior lawyers in the United Kingdom, but the prospect that the company will miss the window for its original presentation on how to make its own efforts.

Shin has initiated the plans to publish public public in New York in late 2023, but after getting rich by the US Securities and Exchange Commission. His listing has been severed due to uncertainty, will it receive an institution from London and Beijing regulators?

In shein, the profit falls as a group fighting competition from Temu, which has reproduced its model of delivery of cheap products of those who go abroad. Diocese has won a few constraint suppliers in China, while the competition has also pushed the Sheter Air freight aeration of Marketing costsA number

In late 2023, Shane answered the threat of the Demu, briefly diversifying beyond fashion that previously reported information. Shane has resumed in his main business.

Sheine plowed From Washington, the money in the Western capitals in the Western capitals, including Trump’s faithful weight Pattak for his parenting DEPOT. The Patel fell as a consultant as a recent FBI director, but maintains the shares in the company worth $ 1 million and $ 5 billion.

Additional report by Ivan Livington