Shein shares fell as much as 10% in Hong Kong after Australia and New Zealand ordered urgent recalls of contact lenses sold through its platform. Laboratory testing found Burkholderia cepacia complex bacteria in the solution used to package the lenses, rather than in the lenses themselves. New Zealand authorities warned of possible eye infections and irritation, while one related eye infection was documented in the United Kingdom. The recall adds product-safety exposure to Shein’s existing challenges, including fragile investor sentiment after a turbulent Hong Kong listing, tariffs and regulatory scrutiny in Western markets, and pressure to diversify beyond low prices and rapid inventory turnover.