Xiaohongshu may secretly submit its IPO application in Hong Kong at the end of the month, with a valuation of up to 31 billion US dollars Odaily Planet Daily News: According to informed sources, Xiaohongshu plans to secretly submit its Hong Kong IPO application by the end of this month, and the company is currently working with consulting firms to advance various preparatory work. Xiaohongshu was founded in Shanghai in 2013, with well-known capital such as Tencent, Alibaba, and Sequoia China gathered behind it. Its valuation continues to rise, with a financing valuation of $17 billion in 2024 and a secondary market valuation of $31 billion in September 2025. At the same time, the company predicts a full year profit of approximately $3 billion for that year. At present, Hong Kong shares are welcoming the upsurge of technology enterprise listing, but Little Red Book still faces multiple challenges, not only to compete positively with Tiktok in the field of short video and social e-commerce, but also to cope with the traffic impact brought by the emerging AI platform. Previously, its overseas version of RedNote achieved rapid popularity through market opportunities. (Beating)