Report: Shein Says It Reached Record Profit in First Half

Shein saw its sales volume rise and profits improve to a record level during the first half of 2023, according to an investor memo from the company’s executive vice chairman, Donald Tang, obtained by CNBC.

“We recorded the highest first-half net profit in the company’s history, compared to a near break-even during the same period in 2022,” Tang wrote in the letter, according to CNBC. “In particular, our continued momentum in the US…