Tag: $PDD Holdings Inc.

China’s PDD Holdings (PDD.O), beat forecasts on Tuesday with a 14% rise in third-quarter adjusted earnings in a sign the e-commerce group’s steep discounts and heavy marketing spending bolstered demand in its home market.

Temu and Shein are pivoting to Europe as their business in the U.S. takes a major hit from unfavorable trade policies. But the China-founded budget e-commerce apps may not receive a warm reception in their new target markets.

Use of low-cost e-commerce giants Temu and Shein has slowed significantly in the key U.S. market amid President Donald Trump’s tariffs on Chinese imports and the closure of the de minimis loophole, new data shows.

Chinese e-commerce firm PDD Holdings (PDD) missed Wall Street estimates for first-quarter revenue on Tuesday, as its domestic platform suffered from persistently weak consumer sentiment and its international business was hit by global trade uncertainty.

The Chinese owner of bargain app Temu reported slower quarterly profit and revenue growth, capping a turbulent year for the e-commerce giant as it faced stiff competition at home, geopolitical tensions abroad and U.S. tariff uncertainties.

The U.S. Postal Service said on Wednesday it would accept parcels from China and Hong Kong, in a U-turn after a suspension following President Donald Trump ending a trade provision used by retailers including Temu, Shein, and Amazon to ship low-value packages duty-free to the U.S.

Temu, the popular e-commerce app owned by China’s PDD Holdings, topped Apple’s list of the most downloaded free apps on its U.S. iOS store for the second year running, highlighting the massive success that Chinese apps are enjoying in the world’s largest consumer market.

Walmart Inc., Amazon.com and fast-growing e-commerce sites Shein and PDD Holding’s Temu saw record-breaking sales on Black Friday and Cyber Monday, according to spending data, suggesting that they may finish the holiday season on a much stronger note than Target and Best Buy which struggled.

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.