SHEIN-W fell more than 13% intraday on Sept. 29, with the stock quoted at HK$30.6, according to Bitget market data. The move came after the global online fast-fashion e-commerce platform disclosed its first unaudited interim results since listing after the market closed on Sept. 28. For the first half, SHEIN-W reported net revenue of $20.1 billion, up 1% year over year, while total orders reached 549 million, up 6.4%. Profit metrics were notably weaker. Reported net profit rose sharply because of non-operating items including changes in the fair value of convertible preferred shares, but adjusted net profit, which better reflects the core business, fell 55.6% from a year earlier to $499 million, equal to just 2.5% of net revenue. Operating profit declined 52.9% year over year. In the second quarter, adjusted net profit dropped 66.6% to $228 million, and margin narrowed from 6.2% in the same period last year to 2.1%.
On Sept. 29, SHEIN-W fell more than 13% intraday, with the stock quoted at HK$30.6, according to Bitget market data.
The global online fast-fashion e-commerce platform, SHEIN-W (Hong Kong stock code: 00625), released its first unaudited interim results since listing after the market closed on Sept. 28. The company reported first-half net revenue of $20.1 billion, up 1% year over year. Total orders came in at 549 million, up 6.4% from a year earlier.
Profitability weakened. Reported net profit rose sharply because of non-operating items, including changes in the fair value of convertible preferred shares. Adjusted net profit, which better reflects the performance of the core business, fell 55.6% year over year to $499 million, accounting for only 2.5% of net revenue. Operating profit declined 52.9% from the same period last year.
In the second quarter, adjusted net profit dropped 66.6% year over year to $228 million. Margin narrowed from 6.2% in the same period last year to 2.1%.
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