BEIJING – Chinese e-commerce giant Pinduoduo announced on Wednesday its net profit for the first quarter (Q1) more than tripled, as the Temu owner continues to boost its competitiveness in its home market and abroad.
BEIJING – Chinese e-commerce giant Pinduoduo announced on Wednesday its net profit for the first quarter more than tripled, as the Temu owner continues to boost its competitiveness in its home market and abroad. Pinduoduo is one of China's leading online retailers — owing largely to its success in reaching consumers in rural areas with a diverse offering of low-cost products.
Earlier this month, European consumer rights groups accused it of using manipulative sales techniques and lacking transparency about traders on the platform.'Critical' yearDespite the setbacks, Pinduoduo remains the newest competitor to established e-commerce juggernauts, including Amazon in the United States and Alibaba in China.
Owner Pinduoduo Triples Q1 Net Profit
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