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Bargain-hungry Americans flock to Temu, making its Chinese owner rich

PDD Holdings, the parent company of Temu and Pinduoduo, is exceeding market expectations with a significant increase in profit and revenue, driven by strong demand from American and Chinese consumers for its low-cost shopping apps. The Shanghai-based company reported a 246% increase in net profit, reaching 28 billion yuan ($3.9 billion) in the first quarter
United States South Korea Alibaba Taobao Colin Huang Lei Chen Morgan Stanley

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