Xiaohongshu Plans Hong Kong IPO, Valuation May Exceed $70 Billion, Potentially One of the Largest Co

On June 17, The Wall Street Journal reported that Chinese social media and lifestyle platform Xiaohongshu is preparing for an initial public offering (IPO) in Hong Kong as early as the end of this year. According to insiders, the company's latest valuation is expected to exceed $70 billion, with a projected net profit of over $3 billion this year. Some major investors maintain high expectations for its long-term value based on its growth and profitability. In recent secondary market trading, Xiaohongshu's valuation has already surpassed $50 billion. If the IPO proceeds smoothly, it will become one of the most closely watched listing events in China's internet sector in recent years, reflecting a trend of repricing for consumer internet and content platforms in the capital markets.