New Stock News | Rumor: Xiaohongshu still intends to go public in Hong Kong, with first-quarter net profit soaring 4 times year-on-year
According to reports, social platform Xiaohongshu (Little Red Book) achieved a revenue of USD 1 billion and a net profit of USD 200 million in the first quarter of this year, both of which increased by 67% and 4 times compared to the same period last year of USD 600 million and USD 40 million, respectively. It is reported that Xiaohongshu's latest valuation has reached USD 17 billion (approximately HKD 132.6 billion), and the company still hopes to list in Hong Kong, but it still needs to wait for the mainland authorities to clarify their stance on large-scale internet companies listing overseas. Xiaohongshu declined to comment on the news. In July this year, Xiaohongshu introduced venture capital firm DST Global as a shareholder through a share sale transaction between existing and new shareholders, which raised Xiaohongshu's latest valuation to USD 17 billion. Back in 2021, when Chinese internet stocks were valued at their highest, Xiaohongshu's valuation had once reached USD 20 billion in a round of financing supported by Temasek Holdings from Singapore
According to the financial news app Zhitong Finance, it is reported that the social platform Xiaohongshu (RED) achieved a revenue of $1 billion and a net profit of $200 million in the first quarter of this year, both of which increased by 67% and 4 times compared to the same period last year of $600 million and $40 million. It is reported that the latest valuation of Xiaohongshu has reached $17 billion (approximately HKD 132.6 billion), and the company still hopes to list in Hong Kong. However, it still needs to wait for the mainland authorities to clarify their stance on the overseas listing of large-scale internet companies. Xiaohongshu declined to comment on the news.
Reportedly, in July this year, Xiaohongshu introduced venture capital firm DST Global as a shareholder through a share sale transaction between existing and new shareholders, which raised the latest valuation of Xiaohongshu to $17 billion. Back in 2021, when Chinese internet stocks were at their highest valuation, Xiaohongshu's valuation had once reached $20 billion in a round of financing supported by Temasek Holdings from Singapore