New stock news | It is rumored that Xiaohongshu will secretly submit a Hong Kong IPO by the end of this month. Its valuation surged to $31 billion last year.

According to reports, the Chinese social platform Xiaohongshu (Little Red Book) is reportedly preparing to secretly submit its application for an IPO to the Hong Kong Stock Exchange (HKEX) by the end of this month. Informed sources revealed that Xiaohongshu is working with investment banking advisors to advance the IPO process, with the potential to become one of the largest technology IPOs in Hong Kong in recent years. Founded by Mao Wenchao and Qu Fang in Shanghai in 2013, Xiaohongshu's investors include Tencent, Alibaba, Sequoia China, Hillhouse Capital, and GGV Capital. In a funding round in 2024, Xiaohongshu was valued at around $17 billion. With business growth, Xiaohongshu's valuation skyrocketed to $31 billion in secondary market trading in September 2025, and the company forecasted a full-year profit of around $3 billion in 2025 to its shareholders. According to its official website, Xiaohongshu is a growth-oriented internet company with 400 million monthly active users worldwide. The company encourages users to share authentic and inspiring life experiences and interests, becoming an important search entry for people seeking life experiences. At the same time, it provides advertising and e-commerce services, supporting millions of businesses and buyers to build a sustainable commercial ecosystem.