FYI – Pinduoduo Holding (TEMU) lost 55bn after quarterly report
PDD which operates well known e-commerce stores in China and is known as the owner of TEMU has reported its quarterly earnings yesterday.
To say the least, they did not match the expectations.
(We) are seeing many new challenges ahead, from changing consumer demand, intensifying competition and uncertainties in the global environment,
The 100 billion yuan revenue targets were missed (97bn instead), and operating expenses are up by 48%.
In one day, they lost 55bn dollar in market cap.
Since PDD and especially TEMU is a big driver for the general e-commerce landscape, the overall outlook in the industry is mediocre.
Attracting customers became more important once again.
– Dennis
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