News Summary

• The stock tumbled as much as 10% on Tuesday but recovered to close to its HK$48.56 issuance price.
• On Wednesday, the stock closed at HK$46 on its second day of trading in Hong Kong.
• Shein raised $1.7 billion in its IPO which valued the ‌firmat $26.5 billion, nearly a quarter of its peak of nearly $100billion in 2022.
• Higher import duties in key markets, growing regulatoryrisks and intensified competition from rivals are hampering Shein's growth prospects.