The shares of a group of companies associated with Xiaohongshu continued their upward momentum on Wednesday, buoyed by the Instagram-style Chinese app”s ascent to the top of the download charts in the United States.
While the rally underscored investors’ growing confidence in Xiaohongshu and companies linked to it, industry experts said it is more important for Chinese enterprises to seize this momentum to cement their foothold in the international market, particularly amid intensifying geopolitical uncertainties.
On Wednesday, more than 10 companies that do business directly or indirectly with Xiaohongshu hit their daily limits on multiple stock markets. The standouts included Hangzhou Onechance Tech Corp, an e-commerce service provider in the A-share market, and Sunwave Communications, a wireless communication technology provider.
Inmyshow Digital Technology (Group), a provider of data-driven marketing solutions…
