Breaking
FRNational strike by civil servants in France to demand a salary increaseCNBaby body found in wastewater tank at Samsung Display Asan factory in South KoreaRUIn Ufa, a child fell from a ninth floor window and diedEUMyanmar military airstrike near market kills at least 49 in Rakhine stateTRSpaceX's Starship Rocket Reached Earth Orbit for the First TimeRUA resident of the Trans-Baikal Territory was sentenced to 24 years for blowing up a train on behalf of the Ukrainian LegionRUUkrainians are leaving cities en masse due to energy problems and preparing for a difficult winterCNJapanese rice farmers face losses amid falling prices and rising costsRUMilitary correspondent Poddubny called the upcoming battles for Slavyansk and Kramatorsk the most difficult in the Northern Military DistrictCNLi Huiwen, the main suspect in the Taichung Ponzi scheme, committed fraud and threats and drove a family of five to despair. Her appeal was rejected and her 11-year sentence was upheld.FRNational strike by civil servants in France to demand a salary increaseCNBaby body found in wastewater tank at Samsung Display Asan factory in South KoreaRUIn Ufa, a child fell from a ninth floor window and diedEUMyanmar military airstrike near market kills at least 49 in Rakhine stateTRSpaceX's Starship Rocket Reached Earth Orbit for the First TimeRUA resident of the Trans-Baikal Territory was sentenced to 24 years for blowing up a train on behalf of the Ukrainian LegionRUUkrainians are leaving cities en masse due to energy problems and preparing for a difficult winterCNJapanese rice farmers face losses amid falling prices and rising costsRUMilitary correspondent Poddubny called the upcoming battles for Slavyansk and Kramatorsk the most difficult in the Northern Military DistrictCNLi Huiwen, the main suspect in the Taichung Ponzi scheme, committed fraud and threats and drove a family of five to despair. Her appeal was rejected and her 11-year sentence was upheld.
Newsgather
All StoriesWorldSportsFinanceTechScienceHealthCultureClimatePoliticsSpace
BackShein reports profit slump and revenue decline in key markets
Shein reports profit slump and revenue decline in key markets
Developing
SCMP Tech1 hour agoBusiness1 min readChina

Shein reports profit slump and revenue decline in key markets

sheinprofit declinerevenue growth

Quick Look

Shein's profit fell to $228 million in the June quarter while revenue rose slightly to $11 billion, driven by declining sales in Europe and the U.S. due to removed customs exemptions on low-value goods, prompting price hikes and reduced advertising.

AI-generated summary

Why It Matters

Shein, a fast-fashion retailer, operates in major markets including Europe and the United States, where recent policy changes have removed customs duty exemptions for low-value goods.

Font size

The company said in an unaudited filing on Monday that profit for the June quarter slumped to US$228 million, while revenue edged up 1 per cent to US$11 billion.

Revenues from Europe and the United States, its largest markets, dropped 14 per cent and 6 per cent, respectively.

The declines were partly driven by the removal of customs duty exemptions for low-value goods in both markets. In response, Shein “raised prices and lowered online advertising spending” in Europe, according to the filing.

What to Watch

AI outlook — possibilities, not facts

  • Shein may continue to adjust pricing and advertising strategies in response to regulatory changes in Europe and the U.S.

    Likely · Within months

Open Questions

  • How long will the customs duty changes remain in effect?
  • What is Shein's long-term strategy to adapt to evolving trade regulations in key markets?
  • Are other fast-fashion retailers experiencing similar impacts from these policy changes?

Related Topics

shein
OrganizationsShein
PlacesEuropeUnited States
Topicsprofit declinerevenue growtheuropeunited statescustoms dutylow-value goods
This article was originally published by SCMP Tech.

Related Stories

U.S. Treasury Department warns of crackdown on abuse of ETFs to avoid taxable gains
Developing·

U.S. Treasury Department warns of crackdown on abuse of ETFs to avoid taxable gains

The U.S. Treasury Department has warned that it will crack down on the abuse of ETFs to avoid taxable gains, especially the "351 conversion" strategy, and the Internal Revenue Service has ruled that some transactions will be considered taxable transactions. The move is Washington's first step in curbing wealthy investors' use of strategies to cut taxes, with hedge funds' related scale exceeding $90 billion.

自由时报
2 min read
Guoguang's stock price surged more than 5% due to sudden influx of buying orders during the session.
Developing·

Guoguang's stock price surged more than 5% due to sudden influx of buying orders during the session.

The stock price of Jinguoguang (6209) suddenly received an influx of buying orders during the session today. It once rose by more than 5%, and rose 2.38% to 81.8 yuan at nearly 11:10. The company benefited from the growth in shipments of infrared thermal lens lenses, and its revenue hit a record high in August. The cumulative revenue in the first eight months increased by nearly 70% year-on-year. Foreign capital has continued to be oversold recently, and investors need to pay attention to subsequent fluctuations.

自由时报
1 min read
Multi-department collaboration promotes the "Spring Rain Moistening Seedlings" special action to help the development of small and medium-sized enterprises
Developing·

Multi-department collaboration promotes the "Spring Rain Moistening Seedlings" special action to help the development of small and medium-sized enterprises

This year, nine departments jointly launched a special campaign to help small and micro business entities develop the "Spring Rain and Moisten Seedlings". By the end of July, they had responded to more than 29,400 tax and fee appeals, established 127 collaboration mechanisms, and shared 974 million pieces of data. The action emphasizes rapid response, accurate demand capture and stable policy supply, promotes direct access to enterprise-friendly policies and promotes small and medium-sized enterprises to thrive in a fair, transparent and warm ecosystem.

中国新闻网
3 min read
Yanchen Yuhua Biomedical cooperates with QuantHealth to use AI platform to support clinical development of oncology drugs
Developing·

Yanchen Yuhua Biomedical cooperates with QuantHealth to use AI platform to support clinical development of oncology drugs

Yuhua Biomedical, a subsidiary of Yanchen Biotechnology, announced its cooperation with QuantHealth of the United States, using its AI clinical trial simulation platform to support the combination of oncology expertise and artificial intelligence, and planning and evaluating clinical development strategies based on evidence. Chairman Huang Zhongyang said that this cooperation represents an important milestone for the company in the integration of new drug research and development and smart medical care.

自由时报
2 min read
Lianjia Investment Holding's stock price rises to the limit, lights up on the eve of the Law Conference
Developing·

Lianjia Investment Holding's stock price rises to the limit, lights up on the eve of the Law Conference

After Lianjia Investment Holdings (3717) transformed into a holding company, it has been deeply involved in the fields of automotive optoelectronics, AI smart cities, Micro-LED CPO optical communications, military drones and robots. Today, the stock price appeared in advance and the market price limit reached 27.85 yuan. As of 10:25, the trading volume reached 16,400 contracts, and the number of orders to buy at the upper limit price exceeded 6,300. The company's consolidated revenue in August was 505 million yuan, an annual increase of 10.01%. The cumulative revenue in the first eight months was 4.551 billion yuan, an annual increase of 891.25%. The net profit after tax in the first half of the year was 240 million yuan, an annual increase of 403.79%. The after-tax earnings per share were 1.15 yuan, turning a loss into a profit. The shipment of high-margin automotive light sources is driven by the increase in the production of fuel vehicles and HEVs by international automakers. The exchange benefits from the appreciation of the US dollar and the expected mass production of dozens of products by the new plant in Mexico in Q4 are supportive.

自由时报
2 min read
More on this topicshein