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Temu-owner PDD Holdings profit dives as it faces challenges amid trade war
Chinese e-commerce firm PDD Holdings PDD.O saw first-quarter net profit fall 47% to 14.74 billion yuan ($2.05 billion) as its domestic platform suffered from intense local competition and its international business was hit by global trade uncertainty.
The closure of the de minimis loophole targeting e-commerce companies with ties to China could also send ripples through shipping giants and Big Tech.
While the Trump administration announced a temporary trade deal Monday slashing tariffs on Chinese goods, the rules on de ...
Temu’s parent company, PDD Holding, saw shares fall about17% on Tuesday morning after reporting a major first-quarter ...
The American version of Temu abruptly began to show only “local” products days before the Trump administration was set to end a tariff loophole for small packages from China.
Without the constant advertising presence, Temu’s and Shein’s apps have fallen ... had cut back on spending because of the changes to the shipping loophole. The company declined to provide ...
"Due to recent changes in global trade ... potential downfall of Shein and Temu, pointing to the many accusations of inappropriate labor practices, deceptive marketing and reliance on cheap ...
REUTERS That strategy change came as the firms rushed ... and 115% in France and 20% in the UK for Temu, according to the data. That advertising push has already helped Shein and Temu secure ...
Shein and Temu, fast-fashion e-commerce platforms that ship merchandise from China, boosted their spending on digital ads in ...
Shopping on Temu for items at bargain prices has been ... and a meat shredder rose from $2.91 to $9.02 (219% increase). These changes are part of a broader trend where US shoppers are facing ...
Temu, which is owned by the Chinese e-commerce company PDD Holdings, said that its operating expenses have gone up “due to recent changes in global trade rules and tariffs.” As of Friday ...
PDD’s stock tumbled as investments to fend off tariffs and competition led to a big miss in quarterly earnings.
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