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In Depth: Shein Heads for Hong Kong IPO as Growth Slows, Regulatory Pressure Mounts

By Bao Yunhong and Ding Yi
2026年08月21日 18:05
The fast-fashion giant’s projection valuation has plummeted in the face of intensifying competition and rising costs overseas
A Shein advertisement on a bus stop in London on July 11. Photo: VCG

In the sprawling industrial districts of Guangzhou, thousands of garment factories operate around the clock, churning out polyester dresses, denim jeans and other viral fashion items destined for consumers around the globe.

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