Xiaohongshu plans to go to Hong Kong for an IPO. The valuation may exceed 70 billion US dollars, or one of the biggest consumer internet market cases in adulthood

Comparatively, according to the Wall Street Journal, the Chinese social media and lifestyle platform Xiaohongshu is preparing to conduct an initial public offering (IPO) in Hong Kong as early as the end of this year.

People familiar with the matter revealed that the company's latest valuation forecast has exceeded $70 billion, and this year's net profit may exceed $3 billion. Some major investors maintain high expectations for its long-term value based on its growth and profitability. In recent secondary market transactions, Xiaohongshu's valuation has exceeded 50 billion US dollars.

If the IPO progresses smoothly, it will become one of the most watched listing events in the Chinese Internet sector in recent years, and also reflects the repricing trend of consumer internet and content platforms in the capital market.