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0.000788022064617764 0.00724980299448386 0.0118203309692671 0.00748620961386921 0.0126871552403466 -0.00559495665878651 0.0115051221434201 0.000827423167848731
Stock impact report

Temu's Chinese Owner Sees Revenue Growth Slow [Barron's]

Pinduoduo Inc. - American Depositary Shares (PDD) 
Company Research Source: Barrons
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 on the 44 percent growth recorded in the third quarter, continuing a slowdown following 86 percent growth in the second quarter and a 131 percent surge at the start of 2024. As owner of overseas e-commerce platform Temu, PDD Holdings is expected to face further challenges as US levies against Chinese goods begin to bite. US President Donald Trump this month doubled a blanket tariff on all Chinese imports from 10 to 20 percent. The order came after Trump in February scrapped a customs exemption for goods valued under $800, long a vital part of the business model supporting platforms offering low-cost goods like Temu and rival Shein. The companies send out tens of billions of dollars worth of clothes, gadgets and other items from their vast network of factories in China annually. Since its September 2022 launch, Tem Show less Read more
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