TikTok rival Xiaohongshu has reportedly rented a 7,000-square-foot office in Causeway Bay after rumors of a supposed Hong Kong listing plan surfaced last year.

The mainland social media platform, gaining global recognition as RedNote, is said to have leased a flat in Times Square for its Hong Kong office, with a rent of HK$40 per sq ft, according to local media.

Times Square has leased offices to a number of large Chinese enterprises, such as Alibaba (9988). The e-commerce giant took the 26th floor of Block 1 for its headquarters, and is now renting more than 100,000 sq ft of floor space in the office tower complex.

Last year, Xiaohongshu was purportedly planning to apply for a Hong Kong listing, according to a Financial Times report.