China's richest man blasts tech giants and government inaction in rare rebuke [Yahoo! Finance]
PDD Holdings Inc. - American Depositary Shares (PDD)
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Source: Yahoo! Finance
China's richest man has hit out at online shopping platforms, accusing them of starting price wars that have damaged a wide range of companies and industries as the country tackles an economic slump. And in extremely rare remarks that have been largely censored by state media, Zhong Shanshan, founder of drinks company Nongfu Springs, also took aim at the Chinese government, saying it was “negligent” in failing to prevent the trend of cut-throat pricing. It is very unusual for Chinese businesspeople to take public aim at the government and those who have done so have often faced repercussions. Speaking on Tuesday during a visit to a county in eastern China, Zhong was widely quoted as taking direct aim at Pinduoduo, criticizing the popular e-commerce site owned by PDD Holdings for hurting businesses. “Internet platforms have brought down (our) pricing system. In particular, Pinduoduo's pricing system has done great harm to China's brands and its industries,” he was quoted as sa
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PDD
News
- PDD Holdings Inc. (NASDAQ: PDD) had its price target lowered by analysts at Benchmark Co. from $185.00 to $160.00. They now have a "buy" rating on the stock.MarketBeat
- PDD Holdings Inc. (NASDAQ: PDD) was downgraded by analysts at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating.MarketBeat
- China's richest person wants a personal apology from ByteDance's founder for not stopping social media attacks against him [Yahoo! Finance]Yahoo! Finance
- China's richest person wants a personal apology from ByteDance's founder for not stopping social media attacks against him [Fortune]Fortune
- China's richest man blasts tech giants and government inaction in rare rebuke [CNN]CNN
PDD
Earnings
- 11/21/24 - Beat
PDD
Sec Filings
- 11/21/24 - Form 6-K
- 10/22/24 - Form SC
- 10/21/24 - Form SC
- PDD's page on the SEC website