Maybe it's because their names have 'red' in them, this year hasn't been going too well. This year is the year of Bingwu, with the heavenly stem 'Bing' belonging to the fire element, and the earthly branch 'Wu' also belonging to the fire element. Add 'red' to the name, and it might just be too much fire Xiaohongshu and Red Dot Payment both ran into lawsuits this year right before their IPOs