It is reported that Xiaohongshu plans to secretly submit its Hong Kong IPO application before the end of June

According to Bloomberg, citing informed sources, the operating entity of Xiaohongshu, Xiaohongshu Technology Co., Ltd., is preparing to secretly submit its initial public offering application in Hong Kong by the end of June. The report states that the company is advancing potential listing matters with advisors, and this transaction is expected to rank among the large IPOs in Hong Kong in recent years. However, details such as the listing time, fundraising scale, and valuation have not yet been finalized, and discussions are still ongoing.

Xiaohongshu was founded in Shanghai in 2013, with investors including Tencent, Alibaba, Sequoia China, Hillhouse Capital, and GGV Capital. In the 2024 financing round, Xiaohongshu's valuation was approximately $17 billion. With business growth, Xiaohongshu's valuation soared to $31 billion in secondary market trading in September 2025, and it predicted to shareholders that the full-year profit for 2025 would reach approximately $3 billion.