New Stock News | Xiaohongshu responds to IPO rumors: The relevant information is not true.

Recently, the news about Red's initiation of overseas listing process has been continuously fermenting in the market. There are rumors that Red secretly submitted an IPO application before the end of June, and due to former employees reporting compliance issues with the company's listing, the listing process was affected. On July 22, Red responded to this by stating that the circulating IPO-related information is not true. The company has not confirmed any related listing arrangements, and the market rumors about the IPO application submission and listing obstacles are all false information. It is understood that Red was founded in 2013 and is a platform centered around lifestyle content community, with businesses covering content sharing, consumer decision-making, and e-commerce transactions. The platform forms a content ecosystem around lifestyle scenarios such as beauty, fashion, travel, food, home, and sports through user-generated content (UGC), known as the "Chinese version of Instagram" by outsiders. Currently, Red has become one of the influential consumer decision-making platforms among young users in China. Previously, there have been multiple rumors in the market about Red seeking to list. It has been reported that Red has been considered as one of the platforms with strong IPO potential among Chinese internet companies, attracting attention from investment institutions in the private market. However, the company has always maintained a cautious attitude towards the listing plan and has not officially announced a specific listing timetable.