Sources: Chinese social e-commerce app Xiaohongshu had $200M in net profit on $1B+ revenue in Q1 2024, up from $40M in net profit on ~$600M revenue in Q1 2023 (Eleanor Olcott/Financial Times)

Eleanor Olcott / Financial Times:
Sources: Chinese social e-commerce app Xiaohongshu had $200M in net profit on $1B+ revenue in Q1 2024, up from $40M in net profit on ~$600M revenue in Q1 2023  —  Shanghai-based start-up has been a rare success story in a sector hit by bankruptcies and falling valuations