BUZZ-RedNote-related stocks soar as app tops US downloads

Reuters2025-01-15

** China-listed companies related to or in business with RedNote (known as Xiaohongshu in China), soar after Chinese social media app tops U.S. downloads

** Hangzhou Onechance Tech soars 20%, Inly Media

jumps 10% and Shanghai Yaoji Technology surges 4.9%

** Foshan Yowant Technology , Aimer , Shenzhen Ellassay Fashion and Guangdong Piano Customized Furniture all jump 10% each

** New users piled on to RedNote just days before a proposed U.S. ban on TikTok as co rushed to capitalize on the sudden influx, while walking a delicate line of moderating English-language content, sources told Reuters

** RedNote's U.S. downloads spiked more than 200% year-over-year this week and 194% vs last week, estimates from app data research firm Sensor Tower showed

** Influx caught RedNote by surprise, with two sources telling Reuters co scrambling to moderate English-language content and build English-Chinese translation tools

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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