Temu’s Parent Company PDD Holdings Suffers Major Profit Drop Amid Tariff Pressures
Chinese e-commerce giant PDD Holdings, the parent company of discount shopping platform Temu, has reported a sharp decline in profits as trade tensions with the United States and increased competition in China take their toll. The company revealed that its profits for the first quarter of 2025 plummeted by 47%, falling to 14.74 billion yuan…