Xiaohongshu Plans to File Hong Kong IPO Application This Month With Valuation Over $31 Billion

According to Bloomberg, Chinese lifestyle platform Xiaohongshu is preparing to submit a confidential Hong Kong IPO application this month, with an estimated valuation exceeding $31 billion. The company, which has evolved from a shopping guide into a community content and e-commerce platform since its 2013 founding, is working with multiple advisors on the offering details. Shareholders include Tencent and Alibaba. The company previously projected 2025 net profit of approximately $3 billion.
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