Tag: $PDD Holdings Inc.

The Biden administration on Friday said it was moving to curb a growing tide of low-value shipments entering the U.S. duty-free under the $800 “de minimis” threshold that has been exploited by Chinese e-commerce firms such as Shein and PDD Holdings’ Temu.

Chinese online retailer accumulates biggest net cash position of any listed group not to pay dividends or buy back shares

 China’s PDD Holdings missed market estimates for quarterly revenue on Monday, as reduced consumer spending dented business at its domestic e-commerce platform Pinduoduo, sending the company’s shares down 15% in pre-market trading.

Temu will have to comply with stricter EU online content rules after its user numbers exceeded a key criterion, the European Commission said on Friday, putting the PDD Group’s fast-fashion e-commerce retailer in a group that includes Amazon ,Meta Platforms and TikTok.

PDD Holdings stock surged early Wednesday after the Temu owner comfortably beat earnings and revenue estimates in the first quarter as Chinese and global consumers continued to flock to its discount e-commerce platforms.

The bargain app Temu, which has gained spectacular popularity with American consumers, is shifting business priorities beyond the U.S., people close to the company said. 

PDD posted a monster beat on Wednesday, reporting fourth-quarter earnings and revenue far above Wall Street’s expectations as the company behind budget online retailers Pinduoduo and Temu continued to impress.

Temu, the e-commerce app run by Chinese company PDD Holdings, plans to run a Super Bowl ad on Sunday, a spokesperson told CNBC, as it looks to continue growing rapidly in the United States.

NEW YORK, Dec 6 (Reuters) – Temu, the fast-growing Chinese e-commerce platform selling $4 home decor and $10 shirts, is successfully taking on U.S. dollar stores including industry leader Dollar General , according to the latest market share data.

Shares in PDD Holdings  soared Tuesday after the online retailer reported quarterly results that were far ahead of Wall Street’s expectations and the rival to both Alibaba BABA and Amazon revealed staggering growth.

An e-commerce app focusing on selling cheap goods to overseas consumers, Temu made its foray into Asia through Japan and South Korea in July.

The U.S.-listed shares of PDD Holdings Inc.  powered up 12.7% toward a five-month high in premarket trading Tuesday, after the China-based mobile marketplace company reported second-quarter results that beat expectations by a wide margin, as a “positive shift” in consumer sentiment led to a rise in demand.

PDD Holdings Inc beat analysts’ estimates for first-quarter revenue on Friday as more price conscious customers turned to its discount e-commerce platforms including Pinduoduo.