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PDD

American  

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U.S.-listed shares of Temu owner PDD Holdings declined 6.1% after third-quarter revenue growth slowed.

From Barron's

PDD Holdings PDD -5.33%decrease; red down pointing triangle said Tuesday that revenue increased 9.0% from a year earlier to 108.28 billion yuan, equivalent to $15.23 billion, with net profit rising 17% to 29.33 billion yuan.

From The Wall Street Journal

“Revenues growth continued to moderate, reflecting the ongoing evolution of the competitive landscape and external uncertainties,” said Liu Jun, PDD’s vice president of finance.

From The Wall Street Journal

The mixed performance comes as PDD has been facing some headwinds after years of breakneck growth.

From The Wall Street Journal

Temu, PDD’s overseas business, and rival Shein have been hit hard by the end of the de minimis exemption—a tariff loophole that previously allowed low-value goods to enter the U.S. duty-free and significantly benefited these cross-border e-commerce sites.

From The Wall Street Journal