希音新加坡公司2024年税后利润近11亿美元 国际化布局引关注

Core Viewpoint - SHEIN's financial performance has garnered significant attention, with a reported revenue of $37.044 billion in Singapore for 2024, marking a nearly 20% year-on-year increase, and a net profit of $1.099 billion [1][2] Financial Performance - SHEIN's revenue figures from 2022 to 2024 are as follows: $21.582 billion, $30.915 billion, and $37.044 billion respectively [1] - The company's operating profit before tax for the same period was $0.697 billion, $1.486 billion, and $1.288 billion, while the net profit after tax was $0.634 billion, $1.298 billion, and $1.099 billion [1] Business Model - SHEIN's success is attributed to its "small orders and quick returns" model, which allows for rapid production adjustments based on real-time data monitoring of sales and click rates [2] - The company operates a flexible supply chain supported by a mature garment industry in Guangdong and strong logistics capabilities in the Pearl River Delta [2] Global Strategy - SHEIN is pursuing a global expansion strategy, with its supply chain primarily based in China, particularly Guangdong, while key functions like marketing and finance are based in Singapore, likely due to favorable corporate tax rates [2] - The difference between SHEIN's operating profit before and after tax in Singapore for 2024 was $1.89 billion, approximately 134 million RMB [2] Market Developments - There are reports that SHEIN is seeking to go public in Hong Kong, leveraging low-cost and efficient supply chains from China and benefiting from overseas tax incentives [2] - The success of SHEIN's potential IPO may depend on its ability to balance regulatory compliance with commercial interests [2]