Xiaohongshu seeks $70B-plus valuation in Hong Kong IPO plan

Chinese social media platform Xiaohongshu, also known as RedNote, is preparing for a Hong Kong IPO that could value the company at more than $70 billion. The offering would rank among the city’s largest technology listings and mark a key moment in the return of Chinese tech firms to public markets after years of regulatory pressure. The deal is being positioned as a test of renewed investor appetite for Chinese consumer tech as Beijing eases its stance on the sector.