#Shein据报最早8月20日启动港股IPO认购
Is SHEIN really set to go public in Hong Kong? From $100 billion to $30 billion—how should we read this game?
SHEIN first launched Hong Kong IPO bookbuilding on August 20, aiming to raise about $2.8 billion, with a target valuation of $30 billion–$35 billion
After being blocked in the U.S. and cooling in London, this cross-border mega giant has finally locked onto Hong Kong
📉 Valuation discounted: squeeze out 70% of the “inflation”
At its peak, the valuation once reached $100 billion; now it has been halved and brought down. In the current secondary market, capital is extremely cautious about high premiums. Delivering a successful listing and giving capital the answers matters more than stubbornly holding to lofty valuations
🌏 After all the twists and turns, why pick Hong Kong?
▶️ U.S.: Too high approval thresholds and overly strict geopolitical scrutiny
▶️ London: Not enough funding depth, and there are major ESG controversies
▶️ Hong Kong: Balances capital from both China and abroad, with strong capacity—becoming the safest fallback
⚠️ Three major hidden concerns after listing
1. Strong competitors everywhere: Temu and TikTok are aggressively driving down prices overseas, causing customer-acquisition costs to rise significantly
2. Tighter policy: The U.S. and Europe shut the door on “tax-free” policies for low-value parcels, directly eroding gross margins
3. Compliance scrutiny: Copyright disputes and ESG concerns remain the focus of institutional attention
As one of the biggest IPOs in Hong Kong this year, do you think its post-listing performance will be strong? Let’s discuss in the comments below👇
Is SHEIN really set to go public in Hong Kong? From $100 billion to $30 billion—how should we read this game?
SHEIN first launched Hong Kong IPO bookbuilding on August 20, aiming to raise about $2.8 billion, with a target valuation of $30 billion–$35 billion
After being blocked in the U.S. and cooling in London, this cross-border mega giant has finally locked onto Hong Kong
📉 Valuation discounted: squeeze out 70% of the “inflation”
At its peak, the valuation once reached $100 billion; now it has been halved and brought down. In the current secondary market, capital is extremely cautious about high premiums. Delivering a successful listing and giving capital the answers matters more than stubbornly holding to lofty valuations
🌏 After all the twists and turns, why pick Hong Kong?
▶️ U.S.: Too high approval thresholds and overly strict geopolitical scrutiny
▶️ London: Not enough funding depth, and there are major ESG controversies
▶️ Hong Kong: Balances capital from both China and abroad, with strong capacity—becoming the safest fallback
⚠️ Three major hidden concerns after listing
1. Strong competitors everywhere: Temu and TikTok are aggressively driving down prices overseas, causing customer-acquisition costs to rise significantly
2. Tighter policy: The U.S. and Europe shut the door on “tax-free” policies for low-value parcels, directly eroding gross margins
3. Compliance scrutiny: Copyright disputes and ESG concerns remain the focus of institutional attention
As one of the biggest IPOs in Hong Kong this year, do you think its post-listing performance will be strong? Let’s discuss in the comments below👇