Temu's Chinese owner sees profits plunge amid trade war
Chinese e-commerce giant PDD Holdings reported a nearly 50% drop in Q1 profit to 14.7 billion yuan (US$2 billion), causing its U.S.-listed shares to fall over 13%.
Chinese e-commerce giant PDD Holdings reported a nearly 50% drop in Q1 profit to 14.7 billion yuan (US$2 billion), causing its U.S.-listed shares to fall over 13%.