On September 28, 2026, the Chinese language website of French international broadcaster RFI (Radio France Internationale) reported that fast-fashion giant SHEIN's operating profit for the January-June period halved compared to the same period last year. The article introduced that, according to SHEIN's announcement on the 28th, while facing headwinds such as tightening global regulations, its net sales for January-June this year increased by 1% year-on-year to 20.1 billion dollars (approximately 3.16 trillion yen). Although net profit attributable to shareholders for the same period reached 2.3 billion dollars (approximately 362 billion yen), exceeding 1.1 billion dollars (approximately 173 billion yen) in the same period last year, adjusted EBIT (operating profit) decreased by 50.4% year-on-year to 538 million dollars (approximately 84.6 billion yen). It also pointed out that this earnings announcement is the first financial report since its initial public offering (IPO) this month, and the company's valuation was approximately 26.3 billion dollars (approximately 4.14 trillion yen), a significant drop from the nearly 100 billion dollars (approximately 15.7 trillion yen) valuation during its private equity funding in 2022. Furthermore, it mentioned that the adjusted net profit margin for April-June significantly shrank from 6.2% in the same period last year to 2.1%. In documents submitted to the Hong Kong Stock Exchange by the company's chairman, Xu Yangtian (Sky Xu), he explained that the significant surge in crude oil prices and transportation costs due to geopolitical instability in the Middle East had an impact, and he presented the outlook that headwinds could continue in July-December. The article also introduced that France introduced a fee of up to nearly 20 euros (approximately 3,580 yen) per item for ultra-fast fashion this month, and that the European Union (EU) abolished tax exemptions for small consignments from July. It was reported that SHEIN's net sales in Europe for April-June dropped by 13.9% to approximately 3.8 billion dollars (approximately 598 billion yen) due to price increases in anticipation of the abolition of tax exemptions and cuts in online advertising costs. Furthermore, while revenue in the US, another major market, decreased by 6% in April-June due to the impact of tariffs, revenue in other regions increased by 21.6% due to the expansion of the customer base, particularly in Latin America, and an increase in orders. The article mentioned that retail analysts pointed out that tariffs not only push up product prices but also reduce consumers' purchasing frequency, and added that Chairman Xu expressed expectations for this year's performance, stating that the most important promotional opportunities in October-December, such as Singles' Day, Black Friday, and Christmas, are still ahead, and he has expectations for a significant increase in order volume. (Edited and translated by Kawajiri)