Financial PerformanceNon-GAAP net profit increased by 126% YoY to RMB34.4bn, 14% ahead of consensus.
Global Expansion StrategyOverseas expansion is a key growth driver with the launch of Temu in North America, leveraging social commerce expertise to attract price-sensitive consumers.
Merchant Experience And Ecosystem DevelopmentPDD Holdings demonstrated a commitment to enhancing merchant experience, with online marketing services and other revenue rising by 24.3%, and transaction services revenue growing by 71.5% year over year to RMB50.0bn.