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PDD
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PDD Holdings, the Chinese owner of online shopping platform Temu, has reported a near 50% drop in profit as US President Donald Trump's trade policies added to its struggles in its home country.
In China, PDD has been locked in a long-running price war with rivals like Alibaba and JD.com in the face of weak consumer spending.
PDD Holdings reported a 47% drop in profit for the first quarter of the year.
PDD Holdings, the Chinese owner of online shopping platforms Temu and Pinduoduo, has reported disappointing sales and profit as Chinese consumers continued to hold back amid an economic slowdown.
It comes after PDD's main rivals in its home market, Alibaba and JD.com, also posted underwhelming results in the September quarter.
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