Shein closed Friday at HK$38.14 (US$4.86), about 21.5 percent below its HK$48.56 (US$6.19) initial public offering price after four days of trading in Hong Kong.
The China-founded fast-fashion retailer began trading Sept. 1 under stock code 625. The shares closed at HK$48.50 (US$6.19) on the first day, HK$46.00 (US$5.87) on Sept. 2, HK$42.00 (US$5.36) on Sept. 3, and HK$38.14 (US$4.86) on Friday. The sequence left Shein below its offer price at the end of every trading session and substantially lower by the end of its fourth day on the exchange.
Shein reported $9.05 billion in global revenue during the first three months of 2026, up just 1.1 percent from a year earlier. Its U.S. revenue fell 14.3 percent, to $2.04 billion from $2.38 billion….