According to Bloomberg News, citing people familiar with the matter, Xiaohongshu is preparing to confidentially file for an initial public offering (IPO) in Hong Kong by the end of this month. The sources said the Shanghai-based company is working with advisers on a potential listing that could become one of Hong Kong’s largest IPOs in recent years. According to the report, discussions are ongoing and key details — including the timing of the listing, fundraising size, and company valuation — have yet to be finalized. [IThome, in Chinese]