Shein shares fall on Hong Kong debut as parcel duties and Iran costs bite
Shein has listed in Hong Kong after failed attempts in New York and London, as US tariffs and rising shipping costs squeeze the fast-fashion giant's profits.
Jason Kong Cheung-fat, 65, and his wife Rosanna Cheung Yeuk-lan, 62, face trial for fraud and money laundering following the deadly Tai Po fire. The couple allegedly obtained over HK$330,000 in government-guaranteed loans by inaccurately reporting the decline in revenue of their decoration business, Ace Interior Design & Engineering Company.
They are barred from leaving Hong Kong until their trial, which is set to begin on October 6. The couple's bail conditions include remaining in Hong Kong, reporting to police weekly, and avoiding contact with prosecution witnesses.
Written by urgent.news from South China Morning Post - Hong Kong's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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