Chen Lei said that PDD will not make buybacks or dividends in the next few years.

PDD made its debut on 2024 Fortune Global 500 list with revenue of $34.981 billion.

AliExpress, an international e-commerce site owned by Chinese e-commerce giant Alibaba, is understood to have signed former Manchester United and Real Madrid star David Beckham as a brand ambassador.

Pinduoduo released the fourth quarter of 2023 and full-year financial results, revenue, net profit rose more than 90%, the sea business towards compliance, Temu contributed the largest growth point。

On January 29th, Morgan Stanley analysts released a research report stating that the rapid popularity of Pinduoduo's Temu shopping application in the United States may have reached its peak. Affected by this, Pinduoduo's stock price fell 8.2% on Monday.

Recently, Taobao and Jingdong have updated the relevant rules of their platform after-sales service, adding "refund only" service, better safeguarding the rights and interests of consumers。

Both Jack Ma's outcry and Liu Qiangdong's comments highlight the embarrassment and unease of traditional e-commerce giants such as Ali and Jingdong in the face of the rise of Pinduoduo against the trend during the earnings season.。

According to data from Earnest Analytics, as of November, Temu held nearly 17% of the market share in the discount store category in the United States.

On November 29, local time, according to several British media reports, the city council of Nottingham, a city in central England, declared the city de facto bankrupt and issued a report under section 114 of the Local Government Finance Act 1988.。This means that the city will stop all spending outside of services required by law.。The city of Nottingham, the UK's second-largest trading hub after London, has been plagued by financial problems in recent years and has previously been regulated by the UK government.。The city's founding Robin Hood Energy had operational problems in 2020 and Nottingham City Council has been under financial pressure ever since。In September, Birmingham, Britain's second-largest city, declared de facto bankruptcy, also suspending non-essential public spending.。

On November 28, Pinduoduo announced its financial results for the third quarter ended September 30, 2023, with excellent overall performance.。Affected by the bright results, on November 28, Pinduoduo closed at 138.$96, up more than 18% to a 31-month high。

In the early years of double eleven, "show off" final sales is the traditional program of each platform。But since last year, these platforms began not to publish this data, instead, the platforms have published their "double eleven scale" related data。

Recently, Meituan launched a "group buy buy" small program on WeChat, and began to compete head-on with the "fast group" under Pinduoduo.。

On August 29, e-commerce company Pinduoduo released its 2023 second quarter results report.。Report data shows that Pinduoduo Q2 revenue is 522.8.1 billion yuan (RMB, the same below), up 66% year-on-year, far exceeding market expectations of 432.800 million yuan; adjusted net profit of 152.6.9 billion yuan, up 42% year-on-year; also greatly exceeded market expectations of 85.9.9 billion yuan。

On June 14, according to media reports, Amazon excluded its new competitor Temu from its price search algorithm, saying it did not meet the criteria.。Amazon's pricing algorithm uses automatic and manual tracking methods to check products inside and outside the Amazon platform to ensure that the asking price of merchants on its platform is not significantly higher than that of Amazon competitors。

On May 15, HHLR ADVISORS, LTD.disclosed its 13F position report as of March 31, 2023。Among the top ten positions, the proportion of positions increased by Chinese stocks.。Pinduoduo, Shell and Alibaba are all in the top five positions, ranking 2-4 respectively.。

Recently, Silicon Valley giant Google has begun suspending the download and use of the software in the Play Store after discovering a malicious plug-in in an unauthorized version of the software, a major shopping app owned by Pinduoduo Holdings Ltd.。

According to a number of media reports, the domestic e-commerce giant Jingdong plans to launch a 10 billion yuan (about 1.5 billion U.S. dollars) shopping subsidy campaign on March 8 to match the tens of billions of subsidies, which also means that a "price war" in the e-commerce industry is about to start.。As soon as the news broke, the shares of both companies began to fall, and it seems that the market is still concerned about the situation。