The fast-fashion giant’s projection valuation has plummeted in the face of intensifying competition and rising costs overseas

Shein delays its Hong Kong IPO to September 1, targeting a $26-27 billion valuation, far below its $98 billion peak, as investor concerns mount.

Shein has set its Hong Kong initial public offering for September 1, a slight delay from earlier projections. The company's growth has slowed, and rising costs are impacting…