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Core Viewpoint - Xiaohongshu is taking a different approach compared to Douyin by opening up its platform to external e-commerce links, partnering with Alibaba and JD.com to enhance its advertising revenue and efficiency, despite potential misunderstandings about its commitment to closed-loop e-commerce [1][2][4]. Group 1: Strategic Partnerships - Xiaohongshu has upgraded its strategic cooperation with Alibaba and JD.com, allowing external links to their platforms, which enables users to transition from Xiaohongshu to Taobao and JD.com directly [1][3]. - The collaboration aims to enhance the "grass planting" strategy, allowing merchants to manage their advertising budgets and track data more effectively [4][5]. - The "Red Cat Plan" with Alibaba and the "Red Jing Plan" with JD.com are designed to create a full-link connection from product discovery to purchase, boosting merchant sales [4][5]. Group 2: Advertising Focus - Advertising has become the primary revenue source for Xiaohongshu, contributing approximately 70%-80% of its total revenue in 2023, with the remainder coming from e-commerce [6][7]. - The platform is shifting its focus from a closed-loop e-commerce model to a more open monetization strategy, emphasizing the importance of measurable advertising effectiveness [2][8]. - Xiaohongshu's advertising strategy includes expanding its services to various industries and enhancing its product capabilities to optimize advertising performance [7][8]. Group 3: Market Position and Valuation - Xiaohongshu's valuation has significantly increased to $26 billion, reflecting strong market interest and growth potential, especially among younger demographics [15][16]. - The platform's user base has grown rapidly, reaching over 100 million daily active users between 2022 and 2023, making it an attractive partner for e-commerce platforms [3][15]. - Despite the challenges in the competitive e-commerce landscape, Xiaohongshu continues to pursue its e-commerce ambitions while focusing on advertising revenue [10][12]. Group 4: Future Outlook - Xiaohongshu aims to enhance its e-commerce capabilities while maintaining a strong advertising business, indicating a dual strategy for growth [10][12]. - The platform is expected to achieve a net profit of $500 million in 2023, with projections to double this figure in 2024, highlighting its financial performance ahead of a potential IPO [16][16]. - The company is exploring new e-commerce strategies and partnerships to strengthen its market position and improve its operational capabilities [12][13].