Source: Tech – South China Morning PostChinese discount e-commerce giant PDD Holdings, operator of Temu and Pinduoduo, faces increased profitability challenges amid US President Donald Trump’s trade policies and heightened competition in its home market, according to analysts.
PDD on Tuesday reported a 47 per cent slump in first-quarter earnings amid slower sales growth, with results trailing market consensus. PDD’s Nasdaq-listed shares tumbled as much as 18 per cent in New York overnight, as the company’s poor report card suggested…Read More