Founder Of Chinese E-Commerce Giant PDD Holdings Rides Out Wealth Swings [Forbes]
PDD Holdings Inc. - American Depositary Shares (PDD)
Company Research
Source: Forbes
In August, Colin Huang , the founder of PDD Holdings became China's richest person with a net worth of $46.9 billion and retained that position for about a fortnight—until the Nasdaq-listed shares of the e-commerce giant tanked nearly 30% in one day as investors got spooked by the company's forecast of slower profit growth. Shares have since recovered amid China's stock rally, placing Huang, who stepped down as chairman in 2021, at No. 4 with a net worth of $43.9 billion, based on his minority stake in PDD. ss In the second quarter of this year, PDD reported a 144% jump in net income to 32 billion yuan ($4.5 billion) though that was lower than the more than threefold rise logged in the previous quarter. The company said during an analysts' call that earnings would continue to be weighed down by increased investments in its supply chain and a 10 billion yuan reduction in fees charged to vendors. PDD, whose Pinduoduo app is a hot favorite with bargain-hunting Chinese consumers lo
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PDD
News
- Temu owner PDD misses quarterly revenue and profit estimates as consumers struggle [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- Temu-owner PDD misses market estimates for Q3 revenue on weak consumer spending [Yahoo! Finance]Yahoo! Finance
- PDD Holdings Announces Third Quarter 2024 Unaudited Financial ResultsGlobeNewswire
- Is PDD Holdings (PDD) A Cheap NASDAQ Stock To Invest In Now? [Yahoo! Finance]Yahoo! Finance
- Temu Faces Growing Scrutiny As Indonesia And Vietnam Express Concerns [Forbes]Forbes
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