Chinese e-commerce giant Pinduoduo updates rules to kick out sellers of shoddy products

Chinese e-commerce giant Pinduoduo updates rules to kick out sellers of shoddy products

Chinese e-commerce platform Pinduoduo will start removing sellers of counterfeit products from its multibillion yuan subsidy programme, as its operator – Temu owner PDD Holdings – and major rivals make operational changes in response to Beijing’s “anti-involution” call. Pinduoduo on Monday updated its rules for merchants taking part in its subsidy programme, stating that the … Read more

PDD’s stock sinks 25% after profit warning despite record revenue in June quarter

PDD’s stock sinks 25% after profit warning despite record revenue in June quarter

PDD Holdings’ stock plunged 25 per cent on Monday after it warned of uncertainty ahead and downward pressure on profits amid increasing competition, despite reporting record revenue for the second quarter. The parent company of domestic online e-commerce platform Pinduoduo and cross-border retailer platform Temu saw its revenue reach a record 97 billion yuan (US$13.6 … Read more