Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

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

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

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

SHEIN IPO Update: HQ Shifted (Back) To China | End of US De Minimis Exemption, Everywhere

Head of US$150M Postage Fraud Scheme Tied to Chinese EComm Parcels Sentenced to Prison in California

SHEIN Gets CSRC's OK for HK IPO | Temu Fined 200M Euros | New EU Fee Could Sharply Raise Costs

US De Minimis Exemption Back From the Dead?! Court Revives Lawsuit, Orders Briefings in Coming Weeks

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Equity Capital Markets

SHEIN Global Holdings / Equity Capital Markets

<ul>
<li>SHEIN's new IPO filing in Hong Kong shows the company recording a Net Loss in Q126</li>
<li>A sharp increase in Q126 fulfilment costs helps to explain the period's weaker profitability</li>
<li>SHEIN's ability to rein in unit fulfilment costs should be a key driver of long-term performance</li>
</ul>


SHEIN's new IPO filing in Hong Kong shows the company recording a Net Loss in Q126
A sharp increase in Q126 fulfilment costs helps to explain the period's weaker profitability
SHEIN's ability to rein in unit fulfilment costs should be a key driver of long-term performance


Hangzhou SF Intra-city Industrial (9699 HK)

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