Summary: Xiaohongshu, a social media firm with 300 million monthly active users, expects to triple its profit to US$3 billion in 2025. The company, known as RedNote outside China, is expanding its e-commerce offerings and has seen its valuation surge to US$31 billion. Xiaohongshu, backed by HSG and Alibaba, is one of the few leading Chinese internet names to remain privately held.

Link: https://www.straitstimes.com/business/companies-markets/tiktok-rival-xiaohongshu-expects-profit-to-triple-to-3-9-billion