Shein first-half net income more than doubles to $2.30 billion
The gain comes as shares of the fast-fashion retailer traded flat in their Hong Kong debut
Published
Shein reported first-half net income of $2.30 billion, up from $1.09 billion a year earlier.
The improvement follows a rockier start to the year. Shein posted a first-quarter 2026 net loss of $99 million, compared with a profit of $395 million in the same period a year earlier, according to a filing with the Hong Kong Stock Exchange reported by The Japan Times. The company attributed that loss to $328 million in fair value losses on its convertible redeemable preferred shares. Revenue in that quarter rose to $9.05 billion from $8.95 billion, a slower pace of growth than in previous years, the filing showed.
Shein's full-year 2025 net profit came to $2.06 billion, down from $3.37 billion in 2024, The Japan Times reported. Bloomberg reported in November 2025 that Shein had told investors it expected about $2 billion in net income for the year, driven by higher profit margins from price increases and cost cuts that offset a drop in online traffic tied to US tariffs under President Trump.
The first-half profit is genuinely bullish for the business, but it arrived without the momentum that typically accompanies a stock market debut. Shares were flat in their Hong Kong listing, suggesting investors had already priced in the improved profitability and remain cautious about the company's valuation and the competitive pressures facing it.