💨 Abstract

PDD Holdings, which operates e-commerce platforms Pinduoduo and Temu, missed quarterly revenue estimates due to weak demand in China despite discounts and stimulus measures. U.S.-listed shares fell 3%. Competition from Alibaba and JD.com, and potential changes to the U.S. de minimis policy pose challenges. Temu's popularity in international markets offsets some losses, but the company faces stiff competition.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖