Temu owner PDD sees 10% plunge in pre-market trading despite 44% revenue growth

Quick Summary:

PDD’s results, including a 66 per cent jump in net revenue, outperformed rivals, but it did not allay investor concerns amid e-commerce competition.

Some see Pinduoduo, which has long focused on cut-to-the-bone pricing to attract consumers, as exacerbating the problem.

Alibaba owns the South China Morning Post.

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Article Details

Author / Journalist: Ben Jiang

Category: Business

Markets: Hong KongChina

Topics: Pinduoduo Cent Focused E-commerce China’s Billion Yuan Competition Revenue Year Reported

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-21 @ 21:56:17 (5 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 190 words

Reading Time: 2 minutes read

Sentences: 9 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 23737847

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About SCMP

Main Topics: Business

Official Website: scmp.com

Update Frequency: 15 posts per day

Year Established: 1903

Headquarters: Hong Kong

News Last Updated: 6 hours ago

Coverage Areas: Hong Kong

Ownership: Independent Company

Publication Timezone: GMT +8:00

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News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #42

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