Proceedings of the 2025 International Conference on Financial Innovation and Marketing Management (FIMM 2025)

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Analysis of the Reasons for Cross-Border Companies’ IPO Failures: A Case Study of Shein

Authors
Shuyuan Liu1, *, Tianyi Peng1
1Department of Accounting, Monash University, Melbourne, 3145, Australia
*Corresponding author. Email: sliu0244@student.monash.edu
Corresponding Author
Shuyuan Liu
Available Online 3 November 2025.
DOI
10.2991/978-94-6463-874-5_51How to use a DOI?
Keywords
Cross-border companies; Geopolitical risks; ESG; IPO failure; Sustainable growth
Abstract

From 2022 to 2024, the global IPO market experienced a significant decline due to escalating geopolitical tensions, environmental, social, and governance issues, as well as valuation pressures. Due to various challenges, Shein’s attempts to go public in the United States, United Kingdom, and Hong Kong have all failed. This article takes the failed IPO of Shein as a case study to analyse the multidimensional risks faced by cross-border companies in global IPOs. The research findings indicate that in the United States, geopolitical risks such as tariff policy adjustments directly harm supply chain interests; In the UK, environmental, social, and corporate governance issues (high carbon emissions and labour concerns) have raised concerns among regulators and investors; In Hong Kong, the contradiction between income growth and profit decline has led to valuation setbacks. Research shows that cross-border enterprises need to establish geopolitical resilience, deeply integrate environmental, social, and governance strategies, optimize dynamic valuation management, to manage the contradiction between global compliance and growth. Shein’s case provides a practical framework for emerging market enterprises to reduce political, environmental, and economic risks, while also offering a new perspective for academic research on risk management in cross-border enterprises.

Copyright
© 2025 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2025 International Conference on Financial Innovation and Marketing Management (FIMM 2025)
Series
Advances in Economics, Business and Management Research
Publication Date
3 November 2025
ISBN
978-94-6463-874-5
ISSN
2352-5428
DOI
10.2991/978-94-6463-874-5_51How to use a DOI?
Copyright
© 2025 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Shuyuan Liu
AU  - Tianyi Peng
PY  - 2025
DA  - 2025/11/03
TI  - Analysis of the Reasons for Cross-Border Companies’ IPO Failures: A Case Study of Shein
BT  - Proceedings of the 2025 International Conference on Financial Innovation and Marketing Management (FIMM 2025)
PB  - Atlantis Press
SP  - 436
EP  - 444
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-874-5_51
DO  - 10.2991/978-94-6463-874-5_51
ID  - Liu2025
ER  -