SHEIN若IPO成行，对有海外融资需求的中企是重大利好

来源 | 观察者网、FT等

在中美金融交往逐渐回暖的大环境下，中国跨境电商巨头SHEIN再次被传出将在美股IPO。

英国《金融时报》今天报道称，多个消息源显示，SHEIN在北京寻求监管部门批准其上市计划。此前也有媒体称，SHEIN已于去年11月向中国监管机构提交了计划在美国进行 IPO 的文件，同时也向美国证券交易委员会（SEC）秘密提交了 IPO 申请。

尽管SHEIN绝大部分收入来自海外，但是观察者网获悉，其供应商几乎全部位于国内，管理团队和1万余名员工也以中国人为主。《金融时报》称，SHEIN“认为他们必须请求中国证监会的批准”。与此同时，美国媒体近日报道，国内并未对SHEIN进行网络安全审查。

2020年以来，由于美国在跨境审计规则上加强对中国企业的针对，中概股赴美IPO一度暂停，中美经贸关系也受到严重影响。不过到2022年8月，中美达成新的审计监管合作协议，双方关系已经显著回暖。

据《金融时报》去年2月报道，SHEIN营收目标是到2025年翻倍。有报道显示，去年5月SHEIN曾经以660亿美元的估值完成最新一轮融资，甚至有媒体称其IPO估值高达900亿美元。《金融时报》指出，SHEIN有望成为2019年的Uber之后，整个美股最大规模的IPO。

尽管美国通胀和消费者购买力有所降温，但据《金融时报》报道SHEIN今年计划实现近 600 亿美元收入。

无论如何，SHEIN的IPO如果能够成行，将成为中美金融交往进一步回暖的标志性事件，对于有海外融资需求的中国企业而言也是重大利好。    

2023年全年，已经有36家中概股企业成功在美IPO，首发募资总额超9亿美元，另有11家企业选择通过SPAC方式在美股上市。

2023年11月，吉利集团旗下的极氪正式发布了赴美IPO招股书。招股书显示，其2023年上半年营收达到212.7亿元人民币，又身处火热的新能源汽车赛道，有消息称其目标估值高达180亿美元，募资金额可能超过10亿美元，有望成为近年来最受瞩目的中概股IPO。

值得一提的是，极氪据悉也是采取了秘密递表的方式，在其发布招股书之前甚少有信息透露。

秘密递交IPO申请，是美国等多地资本市场近年来流行的IPO方式，可以让企业在正式发布招股书之前避免过早地披露敏感业务信息，这对于初创企业和面临激烈竞争的企业非常有利。观察者网注意到，近年来Twitter、Spotify、Mobileye等海外科技企业都是以秘密递表的形式进行IPO，而最近登陆美股的中国企业也多采用这一形式。

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rgba(255, 255, 255, .1);--weui-RED: #fa5151;--weui-ORANGERED: #ff6146;--weui-ORANGE: #c87d2f;--weui-YELLOW: #cc9c00;--weui-GREEN: #74a800;--weui-LIGHTGREEN: #3eb575;--weui-BRAND: #07c160;--weui-BLUE: #10aeff;--weui-INDIGO: #1196ff;--weui-PURPLE: #8183ff;--weui-WHITE: rgba(255, 255, 255, .8);--weui-LINK: #7d90a9;--weui-TEXTGREEN: #259c5c;--weui-FG: #fff;--weui-BG: #000;--weui-TAG-TEXT-RED: rgba(250, 81, 81, .6);--weui-TAG-BACKGROUND-RED: rgba(250, 81, 81, .1);--weui-TAG-TEXT-ORANGE: rgba(250, 157, 59, .6);--weui-TAG-BACKGROUND-ORANGE: rgba(250, 157, 59, .1);--weui-TAG-TEXT-GREEN: rgba(6, 174, 86, .6);--weui-TAG-BACKGROUND-GREEN: rgba(6, 174, 86, .1);--weui-TAG-TEXT-BLUE: rgba(16, 174, 255, .6);--weui-TAG-BACKGROUND-BLUE: rgba(16, 174, 255, .1);--weui-TAG-TEXT-BLACK: rgba(255, 255, 255, .5);--weui-TAG-BACKGROUND-BLACK: rgba(255, 255, 255, .05)}}@media screen and (min-width:1024px) and (prefers-color-scheme:dark){body:not(.pages_skin_pc) 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