Xiaohongshu Prepares for Hong Kong IPO with Target Valuation Over $70 Billion

News Editor

2026-06-23 11:02:07

According to the Wall Street Journal, Chinese social media platform Xiaohongshu plans to list in Hong Kong by the end of this year, with investors seeking a valuation exceeding $70 billion. The company is expected to post a net profit of over $3 billion this year.

XiaohongshuHong Kong IPOValuationSocial MediaListing

According to a report by the Wall Street Journal on June 17, Chinese lifestyle and video-sharing platform Xiaohongshu is planning a Hong Kong IPO as early as the end of this year. Major investors are seeking a valuation of over $70 billion for the company, following recent private secondary market transactions that valued it at more than $50 billion.

Platform Development and Financial Performance

Founded in 2013 by Mao Wenchao and Qu Fang as a shopping guide app, Xiaohongshu has evolved into one of China's most influential social media platforms. The company is expected to generate a net profit exceeding $3 billion this year, highlighting its strong profitability.

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