Temu-owner PDD Holdings’ revenues hit by intense China competition and challenges abroad
By Reuters Published March 20, 2025 PDD Holdings, which operates e-commerce platforms Pinduoduo and Temu, missed market estimates for quarterly revenue on Thursday, as demand remained weak in China despite deep discounts and government stimulus to boost spending. Shutterstock While government stimulus measures and deep price cuts from retailers have drawn some shoppers, PDD’s sales report indicates…