Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

SHEIN IPO in Hong Kong: Latest Developments Affecting SHEIN, Temu, and AliExpress

SHEIN H1/Q2 Results | Slow Top-Line Growth, More Margin Compression | Fulfilment Costs Up Sharply

SHEIN IPO in Hong Kong: Quick P&L Review and Why Managing Unit Fulfilment Costs Matters So Much

SHEIN IPO in Hong Kong: What 2027E Revenue Growth, OPM% Assumptions Are Needed to Make It Cheap-Ish?

SHEIN IPO in Hong Kong | Pressures from New Rules To Grow, Will Hit Low-Price Platforms Hardest

SHEIN IPO in Hong Kong: Management Consistently Underestimated Headwinds, Harming Sales and IPO Plan

SHEIN IPO in Hong Kong: Examining Marketing Expense Trend | Fulfilment Expense in Q226 Likely Spiked

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Equity Bottom-Up

<ul>
<li>Four days into life as a publicly-traded company, SHEIN shares are down more than 21%</li>
<li>If OP margin remains depressed in FY27, it appears SHEIN is still trading ~18x forward EPS</li>
<li>However, even a modest OP margin lift next year implies a PER of just 11-14x</li>
</ul>


Four days into life as a publicly-traded company, SHEIN shares are down more than 21%
If OP margin remains depressed in FY27, it appears SHEIN is still trading ~18x forward EPS
However, even a modest OP margin lift next year implies a PER of just 11-14x


SHEIN IPO in Hong Kong: Has OP Margin Bottomed? If It Has, SHEIN Is Approaching Value

SHEIN Global Holdings

SHEIN IPO in Hong Kong: Has OP Margin Bottomed? If It Has, SHEIN Is Approaching Value