XIAOHONGSHU News & Analysis

Xiaohongshu (IPO) Valuation Could Reach $50 Billion by 2026

Xiaohongshu has engaged Goldman Sachs and CICC for a potential Hong Kong initial public offering (IPO). The firm was valued in private secondary trades at approximately $50 billion towards the end of 2025, with projected profits for 2026 expected to reach $3 billion. The company, also known as RedNote, has over 400 million monthly active users as of 2025. Its previous IPO attempt in the U.S. was halted due to regulatory concerns, and approval for the Hong Kong listing is still pending from the China Securities Regulatory Commission.