Temu owner misses sales forecast as China economy slows
Source: BBC
PDD Holdings, the Chinese owner of online shopping platforms Temu and Pinduoduo, has reported disappointing sales and profit as Chinese consumers continued to hold back amid an economic slowdown. US-listed shares of the e-commerce giant fell nearly 11% on Thursday following the announcement.It comes after PDD's main rivals in its home market, Alibaba and JD.com, also posted underwhelming results in the September…
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