Financial PerformanceNon-GAAP net profit increased by 126% YoY to RMB34.4bn, 14% ahead of consensus.
Merchant EcosystemManagement stated that they will reduce transaction fees for high quality merchants to enhance their ROI and drive the high-quality development of its platform ecosystem.
Overseas ExpansionOverseas expansion is a key growth driver with the launch of Temu in North America, leveraging social commerce expertise to attract price-sensitive consumers.