The US media quoted people familiar with the matter and revealed that the fast fashion giant Shein raised $ 2 billion in the latest round of financing (the same, about 2.7 billion yuan), with a valuation of $ 66 billion,About one -third from the valuation a year ago.
According to the Wall Street Journal, Hipyin was established in China and is currently headquartered in Singapore.After the stock price of technology companies fell, the company's valuation also reduced.Xiyin also faced increasingly strong doubts from the US Congress on its labor and environmental issues.
The above -mentioned people said that Higin's revenue created 23 billion US dollars last year, close to European competitors HM and ZARA's parent company Inditex's income level.Heyin's net profit last year was $ 800 million.People familiar with the matter said that Xiyin's income target this year has increased by 40%.
The latest round of financing was completed last week. Compared with the new valuation, Higin Yin's valuation in the last round of financing a year ago was 100 billion US dollars, which exceeded the market value of HM and Inditex.and.At that time, many technology companies were full of cash, and investors bet on pure online retailers, Higin, to make a profit.
But due to the slowdown in the development of the technology industry, and leading to layoffs, project stranding, and re -concern for compressed costs, technology stocks are facing heavy pressure.This year, as investors' attention turned to the turbulence of the US banking industry, some technology stocks began to rebound, but the valuation of technology companies was still far lower than early 2022.
In the latest round of financing of Xiyin, Sequoia Capital, Pan -Great Ocean Investment Group and the UAE sovereign wealth fund MUBADALA led.Both Sequoia Capital and Pan -Great Ocean Investment Group participated in Herchi's previous rounds of financing.The above -mentioned persons said that investors who participated in the previous round of financing were allocated this time to maintain their shareholding scale.
Some existing investors told the Wall Street Journal that the valuation decreased to leave the room for the increase in market value when Higin was listed.As the company faces the increasing pressure of supervision, the difficulty of the first public offering (IPO) is also increasing.
