Shein Plans Hong Kong IPO After UK Listing Stalled, Reuters Says
Shein Group Ltd is now working toward listing in Hong Kong after the fast-fashion company did not receive approval from Chinese regulators for a London listing, Reuters reported on Wednesday, citing three unidentified people familiar with the matter.
The company plans to file a draft prospectus in Hong Kong in the coming weeks, one of the people told Reuters. Shein aims to go public within the year, two people told the news agency.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
14 minutes ago
- Yahoo
Your Daily FoodScope for June 07, 2025
Do you often find yourself wondering what food to cook, how to cook it, and even that dreaded question—how much of it? It's a daily struggle for all of us, but need not be with our food horoscope. Satisfaction is only a click away! You could be tempted to do as little as possible. But that will be difficult as work demands suck you back in. But the day will be over before you know it and you can finally relax. Let someone else do the cooking tonight. Sushi and miso soup will be a mellow way to end the workweek. It'll behoove you to keep the company of those who share your goals today. This will be particularly true if you're trying to lose weight. A support group will keep you focused so arrange to meet for lunch. You can share each other's salads, although you may want to pass on the one with the anchovies. Things will seem blurry today, and comprehension will be hard to come by. You could be experiencing fallout from skipping breakfast. Making amends at lunch could save the day. Turkey breast on rye with a big green salad could have you seeing things clearer, or at least a lot less fuzzy. You may want to bond with your watery roots today. So get in a swim at the local pool. You'll feel right at home in the water and the subsequent workout will do you good. Follow that with a healthy dinner. Hmmm, grilled salmon with a bowl of Manhattan clam chowder suddenly comes to mind. Emotions will run high at work today, but strive to be the embodiment of Zen. This may be tough as you sit in the middle of the swirling vortex. But a cup of organic chamomile tea with a lemon slice and a sprig of mint may prompt you to chant your mantra, much to the chagrin of those around you. What does your karmic journey hold? Discover your destiny with our Karma Report. ✨ Don't expect a lot to get done on this last day of the week. Fortunately you won't have much on your plate, so it'll be easy to relax. But avoid skipping out early to get a head start on happy hour. Those Buffalo wings and nachos can wait until at least five o'clock, but not a minute later. It won't make sense to start new projects today. So milk the work you've already got on your plate. But you'll want to knock off a little early. There's a seat with your name on it at the sushi bar and a boatload of sashimi that's just daring you to dive in. You'll think your imagination is playing tricks on you today. But you'll soon realize that you're staring at the real deal. So pull up a chair and a fork and dig into a delicious crab casserole made with crab fresh from the bay. It'll be so good you'll think you're dreaming. You'll have a hard time getting the engine started today. So put the appropriate fuel into the tank before leaving home. Buttermilk pancakes with turkey sausage smothered in maple syrup will give you something to burn straight through lunch and beyond. Compassion will fuel you with a desire to help the less fortunate today. So buy cans of tuna, soup and fruit as well as boxes of cereal and donate them to your local food bank. It's important to remember those who don't have much to celebrate. You deserve to pamper yourself as the week draws to a close. A massage or facial sound tempting but they will ultimately be unsatisfying. Treat yourself to dinner instead. A surf and turf meal will give you contentment, especially if the surf in question is a plump Maine lobster tail. You may not have funds to lavish yourself with jewelry and trendy new clothes. But you can still pamper yourself and remain within budget. Buy the ingredients needed to make an obscenely cheesy lasagna. You'll get tremendous self-satisfaction and it won't break your bank. Need guidance? Your Numerology Reading is a mystic cheat-sheet to living your full potential.
Yahoo
32 minutes ago
- Yahoo
UBS Lifts Kingsoft Cloud Holdings Limited (KC) to $14 Amid AI Growth
On Thursday, UBS analysts raised the price target for Kingsoft Cloud Holdings Limited (NASDAQ:KC) while maintaining a "Buy" rating. This confidence is attributed to the company's position as a pure-play cloud vendor with huge AI potential, anticipated to increase to over 40% by 2027, in contrast to 17% of total revenue in 2024. An executive standing in front of their headquarters building, proudly symbolizing the company's achievements. A fascinating development is the anticipated rebound in the company's public cloud segment, which is projected to achieve a 20% revenue compound annual growth rate (CAGR) by 2027. From the climbing demand for AI-powered cloud solutions, greater contributions from Xiaomi's ecosystem, and sustained growth in external clients, the reasons that explain this surge are many. Analysts also anticipate that Kingsoft Cloud Holdings Limited's (NASDAQ:KC) non-GAAP operating margin will improve, with narrow losses expected until achieving profitability by 2027. This strengthened standing is driven by higher revenue dependence on AI and enhanced cost efficiency from scaling operations. Indeed, it's AI that is backing the analysts' bullish stance. Kingsoft Cloud Holdings Limited (NASDAQ:KC) is a Chinese cloud service provider that offers cloud solutions, research and development services, enterprise digital solutions, and related services. Founded in 2012, the company aims to become clients' trusted partners and capitalize on digitalization. While we acknowledge the potential of KC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure. None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Trump says Xi agreed to restart flow of crucial minerals, but analysts say China won't give up its ‘rare earth card'
US President Donald Trump said Chinese leader Xi Jinping has agreed to restart the flow of crucial rare earth materials, after announcing a new round of US-China trade talks will be held in London on Monday. Trump made the comments a day after holding his long-awaited phone call with Xi, during which the two leaders agreed to resume negotiations stalled over mutual accusations of violating the truce reached in Geneva last month. For Washington, a major sticking point has been China's export restrictions on rare earth minerals and magnets, which are essential for everything from cars to fighter jets, and critical to American industries and defense. In the weeks since the fragile detente, Washington has accused Beijing of slow-walking approvals for rare earth exports and reneging on its promise made in Geneva, with Trump expressing increasing urgency to speak to his Chinese counterpart to iron things out. After a 90-minute call on Thursday, Trump said he and Xi had 'straightened out' some points related to rare earth magnets, describing it as 'very complex stuff.' But he did not specify what exactly had been agreed upon. Asked Friday if Xi had agreed to restart the flow of rare earth minerals and magnets, Trump told reporters abroad Air Force One: 'Yes, he did.' He did not further elaborate on how fast that would happen, or the volume of the materials that would be released. The Chinese readout of the call did not mention rare earths. Instead, it quoted Xi as saying that China had 'seriously and earnestly' complied with the trade truce agreement. Asked about it at the Chinese foreign ministry's daily briefing on Friday, a spokesperson sidestepped the question, saying it was a matter for other agencies to address. China, which controls 90% of the global processing of rare earths, imposed export restrictions on some minerals and magnets on April 4 at the height of the tariff war, after Trump slapped 'reciprocal' levies on Chinese goods. The new system does not ban exports outright, but requires government approval for each shipment. Chinese scholars who advise the government suggested on Thursday that Beijing is not ready to give up the powerful leverage bestowed by its dominance on the rare earth supply chain – and may seek to use it to get Washington to ease its own export controls aimed at blocking China's access to advanced US semiconductors and technologies. While American businesses are likely to see more shipments approved in the next couple of weeks, the export licensing regime is here to stay, said Wu Xinbo, director of the Center for American Studies at Fudan University in Shanghai. He noted that, according to official rules set by China's Commerce Ministry, applications for export licenses can take up to 45 working days to be approved. 'In principle, I can agree to export to you, but I can speed things up or slow them down. In reality, on a technical level, it also depends on the overall bilateral trade and economic atmosphere,' he said. 'If the bilateral relationship is good, then I'll go a bit faster; if not, I'll slow down. But you can't say I'm violating the agreement – I'm still following the standard procedures.' Some Chinese suppliers of US companies have recently received six-month export licenses, the American Chamber of Commerce in China said Friday, but it noted that uncertainty remains amid a large backlog of license applications. Jin Canrong, a professor of international relations at Renmin University in Beijing, said the importance Trump attaches to rare earths shows how effective China's 'rare earth card' is. 'I hadn't realized just how important this rare earth card was before. Now the US side is clearly anxious and eager to resolve this issue,' he said in a video on social media on Thursday. 'But of course, we'll link this issue to others – the US is restricting China on chips and jet engines, then China certainly has every reason to make use of this card.' 'As for whether China will change its rare earth export control policy, that probably still needs to be negotiated in more detail' Jin added. Some Chinese scholars have expressed hope that US technology restrictions on China may now be up for negotiation, after Trump announced that Commerce Secretary Howard Lutnick – whose department overseas US export controls – will join Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer in the next round of trade talks. 'The issue of US export controls may no longer be an area that is completely non-negotiable in the future,' Cui Fan, an economics professor at the University of International Business and Economics in Beijing and advisor to the Chinese Commerce Ministry, wrote in a social media post. Beijing has insisted that its export controls are in line with international practices, non-discriminatory and not targeted at any specific country. Hours before the two leaders jumped on the phone on Thursday, a spokesperson for China's commerce ministry reiterated that stance at a regular news conference, citing the 'clear dual-use attributes' of rare earth materials. Dual-use items refer to those with both civilian and military applications. 'The Chinese government reviews export license applications for dual-use items in accordance with laws and regulations, and for applications that meet the requirements, China will grant approval to promote and facilitate compliant trade,' spokesperson He Yongqian said. The strict licensing system has significantly disrupted the global supplies of these materials and triggered production turmoil across industries in America and Europe, raising alarms among officials and businesses alike. A survey of member companies conducted by the American Chamber of Commerce in China late week found that, among those affected by rare earth export controls, 75% say their stock would run out within three months. CNN's Kit Maher contributed to reporting.
