Investment bank tennis, today, the news about Xiaohongshu's upcoming listing in Hong Kong has been widely spread on the Internet. However, in response to this rumor, Xiaohongshu quickly responded.
After Bloomberg and other media reported that Xiaohongshu will conduct an IPO in Hong Kong as soon as the second half of 2024, Xiaohongshu quickly issued a statement, saying that the company has no plans to go public at present.
Xiaohongshu said that the company's current focus is to continuously optimize products and services to provide users with a better experience. The company is open to going public, but there are no concrete plans at the moment.
Qu Fang, founder of Xiaohongshu
It is worth mentioning that although there is no plan to go public, Xiaohongshu's performance in business development has been in the spotlight. According to reports, Xiaohongshu may achieve a net profit of about $500 million this year, much higher than the company's own net profit of $50 million expected at the beginning of this year.
Although the outside world has been disturbed by the rumors of Xiaohongshu's listing, the company said that it will continue to improve its products and services based on user needs and create more value for users. As for whether it will be listed in the future, the company said that it will make decisions based on market conditions and its own development needs.
In 2013, Qu Fang and Mao Wenchao co-founded Xiaohongshu. As of May 2018, Xiaohongshu has grown into China's largest lifestyle sharing platform, with a total of more than 100 million users, and the community generates billions of note exposures every day, covering various lifestyle fields such as fashion, skin care, makeup, food, travel, film and television, reading, and fitness.