[Xiaohongshu Plans to Submit Hong Kong IPO Application as Early as This Month, Valuation May Exceed $31 Billion] According to Bloomberg, Chinese lifestyle platform Xiaohongshu is preparing to secretly submit an IPO application to the Hong Kong Stock Exchange this month, potentially becoming one of the largest tech IPOs in Hong Kong in recent years. Sources familiar with the matter revealed that Xiaohongshu is working with multiple advisors, with the issuance size, timeline, and valuation still under discussion. Xiaohongshu's valuation in the secondary market rose to approximately $31 billion last year, and the company has informed shareholders that it expects profits to reach around $3 billion by 2025. Founded in 2013, the company has evolved from a shopping guide into a platform integrating community content and e-commerce, with shareholders including Tencent and Alibaba.