Despite its global spread … something if it faces difficulties in the first public offering

XN, the fashion sale company, has transferred its headquarters and some of its main commercial signs from its headquarters in China to Singapore in 2022 to look more international, and it seems that this step has succeeded, as its sales flourished in the United States and abroad, and its market value, amounting to 100 billion dollars at the time, over important companies in the sector, including H&M. However, its initial public offering, which is long, in addition to other recent stumbling blocks, shows that such transformations have limits that are difficult to overcome.

The CEO of the company, Donald Tang, initially sought to include the company, known for its sale of cycling, swimwear, and other products at low prices, on the New York Stock Exchange in 2022, but this plan faced violent audit by legislators in Washington on its practices in the supply chain in China, while Xi confirmed that it does not tolerate at all to tolerate forced work and child labor in Its supply chain. A subsequent attempt to include in London, Reuters reported, after failing to obtain the green light from the Chinese Securities Regulatory Authority, and the Chinese Authority requires all companies that have important ties with the People’s Republic of China, regardless of its place of residence, obtaining approvals before listing on the external stock exchanges. It seems that the third attempt of “Xi”, in Hong Kong, also stumbles. Bloomberg reported, on Tuesday, quoting sources, that in an attempt to improve its opportunities, the group was in discussions to establish a mother company in China, and it is not clear that the regulatory authorities in Beijing were repeated in accepting this proposal, but “XN” paid local income taxes may convince the authorities in the next period. The company faces more issues. From the proposal, growth in its largest markets, the United States and Europe, are at risk, Washington has ended the customs exemption for shipments worth $ 800, and Europe plans to apply fixed fees of 2 euros on low -value e -commerce parcels that enter the union. Moreover, fierce competition from the company “Timo”, owned by PDD, which is worth 169 billion dollars, has affected the margins of profit Xi N. February. It is worth noting that there are other Chinese groups that have succeeded in re -positioning themselves, as PDD, listed on the New York Stock Exchange, registered in the Kayman Islands, in 2023, transported its headquarters to Ireland, the country that provides huge tax exemptions. Likewise, Bayt Dance extends across different geographical areas, where the headquarters of the royal company of Tik Talk is located in Singapore and California, but Xi Inn are showing that such institutional moves do not always succeed.