Shein shares plummet over 11 percent following results undermined by stricter regulations

Hong Kong – Fast fashion giant Shein saw its share price plummet by more than 11 percent during mid-day trading on the Hong Kong Stock Exchange on Tuesday. The drop followed the publication of lacklustre financial results the previous day, which were undermined by stricter regulations, particularly in Europe.

The group reported a turnover increase of only 1 percent year-over-year for the first half, and an operating profit that was halved.

In the European region alone, turnover fell by 13.9 percent in the second quarter.