(Reuters) -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 more than 25% in early trade. Pinduoduo Inc. is a Chinese online retailer with a focus on the traditional agriculture industry. The business is the largest product of PDD Holdings, which also owns the online marketplace Temu.
https://www.reuters.com/world/china...misses-quarterly-revenue-estimates-2024-08-26
https://www.reuters.com/world/china...misses-quarterly-revenue-estimates-2024-08-26