Chinese ecommerce group PDD Holdings has reported a more than doubling of quarterly revenues, hailing 2023 as a “pivotal” year during which its ultra-cheap shopping site Temu turbocharged growth.
Nasdaq-listed PDD, which owns the fast-growing marketplace Temu that is making waves in the US and Europe, on Wednesday reported revenues of Rmb89bn ($12bn) for the three months to December, a 123 per cent increase from