The publicly traded e-commerce group PDD Holdings Inc., which operates the online platforms Temu and Pinduoduo, significantly increased its revenue in fiscal year 2024. However, the growth rate in the fourth quarter was below the annual average, according to preliminary, unaudited figures released by the company on Thursday. According to the...
24 Mar 2025
Chinese e-commerce giant PDD Holdings announced Thursday slower revenue growth for the third quarter running, as the Temu owner confronts trade tensions between Beijing and Washington. The Shanghai-based company posted revenues of 110 billion yuan ($15 billion) in the three months to December 31, up 24 percent year-on-year. The figure was down...
20 Mar 2025
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...
22 Nov 2024
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...
15 Nov 2024
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...
27 Aug 2024
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...
27 May 2024