PDD Holdings news and archive

Temu parent PDD Holdings Q3 revenues increase by 44 percent

PDD Holdings in its unaudited financial results statement for the third quarter reported revenues of 99,354.4 million Chinese yuan (14,157.9 million dollars), an increase of 44 percent. “Over the past quarter, our focus remained on driving the high-quality development of the platforms,” said Lei Chen, chairman and co-chief executive officer of...

Podcast

Podcast: How Indonesia's demand to remove the Temu app impacts global trade

Indonesia recently requested Google and Apple to remove the Temu app, owned by PDD Holdings, from its national app stores to protect local businesses from the sale of extremely cheap products. This direct action, without accusations of illegal activity, is rare and raises questions about how the tech giants will respond. The action could inspire...

Business

Despite strong Q2, Temu parent PDD Holdings warns of slowing growth

PDD Holdings, owner of online marketplace Temu, reported second quarter revenues of 97,059.5 million Chinese yuan, an increase of 86 percent. Net income increased 144 percent to 32,009.4 million Chinese yuan and non-GAAP net income rose 125 percent to 34,432.1 million Chinese yuan. “While encouraged by the solid progress we made in the past few...

Business

Temu-owner PDD Holdings' Q1 revenues accelerate

PDD Holdings, owner of Chinese discounted consumer goods company Temu, reported first quarter revenues of 86,812.1 million Chinese yuan (112,023.3 million dollars), increased 131 percent. Operating profit in the quarter was 25,973.7 million Chinese yuan (3,597.3 million dollars), an increase of 275 percent, while non-GAAP operating profit was...