Latest news with #LeiChen
Yahoo
26-07-2025
- Business
- Yahoo
Here Is What You Need To Know Before Investing In PDD Holdings Inc. (PDD)
PDD Holdings Inc. (NASDAQ:PDD) is among the 13 Best Global Stocks to Buy Right Now. The multinational commerce group owns and operates a portfolio of businesses. Photo by Pascal Bernardon on Unsplash The Temu-owner reported a 10% year-over-year increase in revenue for the first quarter of fiscal 2025. However, net income declined 47%, driven by intense local competition and ongoing global trade uncertainties. MScience analyst Vinci Zhang said the bottom-line miss was a result of weaker-than-anticipated operating margin, likely impacted by U.S. tariffs. Slowing domestic spending and a prolonged property crisis in China have also pressured PDD Holdings Inc. (NASDAQ:PDD)'s Pinduoduo, which generally tends to outperform competitors due to its low-price focus. The Chinese e-commerce giant also made substantial investments in its platform ecosystem to support consumers and merchants. PDD Holdings Inc. (NASDAQ:PDD)'s Chairman and Co-CEO Lei Chen said that while these investments weighed on near-term profitability, they have strengthened the long-term health of the platform. Despite the dip in profitability during the first quarter, the market sentiment on PDD Holdings Inc. (NASDAQ:PDD) remains bullish, with year-to-date returns of 22% as of the close of business on July 22. Wall Street analysts have a consensus Buy rating for the stock, with a one-year average price target of $127, representing a 10% upside potential. While we acknowledge the potential of PDD as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Best Small Cap Defense Stocks to Buy According to Hedge Funds and 13 Best Booming Stocks to Buy Now. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Malay Mail
28-05-2025
- Business
- Malay Mail
Temu owner's profits plunge by nearly half as US scraps import exemptions amid China-US trade war
SHANGHAI, May 28 — Chinese e-commerce giant PDD Holdings saw net profit almost halve in the first three months of the year as the Temu owner prepared for a blistering trade war between Beijing and Washington. The Shanghai-based company said net profit came in at 14.7 billion yuan (RM8.46 billion) in the three months ending March 31, down 47 percent year on year. The drop came as the economic superpowers are locked in another bruising trade standoff that saw US President Donald Trump last month scrap a customs exemption for goods valued under US$800. The exemption was long a vital part of the business model supporting platforms offering low-cost goods like Temu. In a statement with the earnings release on Tuesday, PDD Holdings' co-chief executive Lei Chen said the company made 'substantial support merchants and consumers' and deal with 'rapid changes in the external environment'. 'These investments weighed on short-term profitability but gave merchants the room to adapt', he said, insisting they were focused on 'strengthening the (platform's) long-term health'. The firm also saw revenue growth slow for a fourth straight quarter. It said revenue in the first quarter rose 10 percent on-year to 95.7 billion yuan. But that was down on the 24 percent growth recorded in the previous three months -- and a severe drop from the 131 percent growth it saw at the start of 2024. The growth slowdown was 'expected', said PDD Holdings' vice president of finance Jun Liu, adding that the downturn was 'accelerated by the changes in the external environment'. She warned that the company's financial results 'may continue to reflect the impact of sustained investments... through uncertain times'. PDD's New York-listed depository receipts plunged more than 13 percent. As part of a detente in the tariff standoff between China and the United States, Trump signed an executive order this month that set duties on 'de minimis' items sent through the US Postal Service to 54 percent of their value, or a US$100 payment. A prior tariff had been set at 120 percent. — AFP
Time of India
28-05-2025
- Business
- Time of India
China's Temu owner sees profit plunge as trade tensions linger
Chinese ecommerce giant PDD Holdings saw net profit almost halve in the first three months of the year as the Temu owner prepared for a blistering trade war between Beijing and Washington. The Shanghai-based company said net profit came in at 14.7 billion yuan ($2 billion) in the three months ending March 31, down 47% year on year. The drop came as the economic superpowers are locked in another bruising trade standoff that saw US President Donald Trump last month scrap a customs exemption for goods valued under $800. The exemption was long a vital part of the business model supporting platforms offering low-cost goods like Temu. In a statement with the earnings release on Tuesday, PDD Holdings' co-chief executive Lei Chen said the company made "substantial support merchants and consumers" and deal with "rapid changes in the external environment". "These investments weighed on short-term profitability but gave merchants the room to adapt", he said, insisting they were focused on "strengthening the (platform's) long-term health". The firm also saw revenue growth slow for a fourth straight quarter. It said revenue in the first quarter rose 10% on-year to 95.7 billion yuan. But that was down on the 24% growth recorded in the previous three months -- and a severe drop from the 131% growth it saw at the start of 2024. The growth slowdown was "expected", said PDD Holdings' vice president of finance Jun Liu, adding that the downturn was "accelerated by the changes in the external environment". She warned that the company's financial results "may continue to reflect the impact of sustained investments... through uncertain times". PDD's New York-listed depository receipts plunged more than 13%. As part of a detente in the tariff standoff between China and the United States, Trump signed an executive order this month that set duties on "de minimis" items sent through the US Postal Service to 54% of their value, or a $100 payment. A prior tariff had been set at 120%.
Economic Times
28-05-2025
- Business
- Economic Times
China's Temu owner sees profit plunge as trade tensions linger
The drop came as the economic superpowers are locked in another bruising trade standoff that saw US President Donald Trump last month scrap a customs exemption for goods valued under $800. In a statement with the earnings release on Tuesday, PDD Holdings' co-chief executive Lei Chen said the company made "substantial support merchants and consumers" and deal with "rapid changes in the external environment". Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Chinese ecommerce giant PDD Holdings saw net profit almost halve in the first three months of the year as the Temu owner prepared for a blistering trade war between Beijing and Shanghai-based company said net profit came in at 14.7 billion yuan ($2 billion) in the three months ending March 31, down 47% year on drop came as the economic superpowers are locked in another bruising trade standoff that saw US President Donald Trump last month scrap a customs exemption for goods valued under $ exemption was long a vital part of the business model supporting platforms offering low-cost goods like a statement with the earnings release on Tuesday, PDD Holdings' co-chief executive Lei Chen said the company made "substantial support merchants and consumers" and deal with "rapid changes in the external environment"."These investments weighed on short-term profitability but gave merchants the room to adapt", he said, insisting they were focused on "strengthening the (platform's) long-term health".The firm also saw revenue growth slow for a fourth straight said revenue in the first quarter rose 10% on-year to 95.7 billion that was down on the 24% growth recorded in the previous three months -- and a severe drop from the 131% growth it saw at the start of growth slowdown was "expected", said PDD Holdings' vice president of finance Jun Liu, adding that the downturn was "accelerated by the changes in the external environment".She warned that the company's financial results "may continue to reflect the impact of sustained investments... through uncertain times".PDD's New York-listed depository receipts plunged more than 13%.As part of a detente in the tariff standoff between China and the United States, Trump signed an executive order this month that set duties on "de minimis" items sent through the US Postal Service to 54% of their value, or a $100 payment.A prior tariff had been set at 120%.
CNA
28-05-2025
- Business
- CNA
China's Temu owner sees profit plunge as trade tensions linger
SHANGHAI: Chinese e-commerce giant PDD Holdings saw net profit almost halve in the first three months of the year as the Temu owner prepared for a blistering trade war between Beijing and Washington. The Shanghai-based company said net profit came in at 14.7 billion yuan (US$2 billion) in the three months ending Mar 31, down 47 per cent year on year. The drop came as the economic superpowers are locked in another bruising trade standoff that saw US President Donald Trump last month scrap a customs exemption for goods valued under US$800. The exemption was long a vital part of the business model supporting platforms offering low-cost goods like Temu. In a statement with the earnings release on Tuesday, PDD Holdings' co-chief executive Lei Chen said the company made "substantial investments ... to support merchants and consumers" and deal with "rapid changes in the external environment". "These investments weighed on short-term profitability but gave merchants the room to adapt", he said, insisting they were focused on "strengthening the (platform's) long-term health". The firm also saw revenue growth slow for a fourth straight quarter. It said revenue in the first quarter rose 10 per cent year-on-year to 95.7 billion yuan. But that was down on the 24 per cent growth recorded in the previous three months - and a severe drop from the 131 per cent growth it saw at the start of 2024.
