Miduoduo Files For Hong Kong Listing; TikTok Tie-up, Southeast Asia Focus May Boost IPO prospects

Miduoduo, China's fifth-largest cross-border e-commerce marketing services provider, has filed for a Hong Kong IPO despite three years of losses. The company is pivoting toward direct e-commerce operations and leveraging a growing partnership with TikTok Shop, which now accounts for 30.3% of revenues. With plans to expand in Southeast Asia and a valuation of $638 million from recent funding, the company aims to position itself as a high-tech startup rather than a mature ad services provider.