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PDD Holdings, the owner of Temu and Pinduoduo, is blowing past market expectations with a massive surge in profit and revenue as American and Chinese consumers swarm its bargain shopping apps for low-cost products.
Hong Kong (CNN) — PDD Holdings, the owner of Temu and Pinduoduo, is blowing past market expectations with a massive surge in profit and revenue as American and Chinese consumers
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
PDD Holdings, the owner of Temu and Pinduoduo, is blowing past market expectations with a massive surge in profit and revenue as American and Chinese consumers swarm its bargain shopping