Temu Owner PDD Faces Profit Hit Amid Tariffs and Fierce Competition
Temu母公司PDD在关税与激烈竞争下利润受挤压
Chinese e-commerce firm PDD Holdings, which owns Temu and Pinduoduo, saw first-quarter profits fall by 47%, with shares dropping 18% on Nasdaq. Analysts blame Trump-era tariffs, slowing growth, and rising domestic competition. Co-founder Chen Lei acknowledged external pressures and a necessary slowdown, prompting a ¥100 billion (US$13.9 billion) investment to support merchants and boost consumer engagement. While UBS analysts warn of continued macroeconomic uncertainty, Morgan Stanley sees this as a “short-term pain, long-term gain” strategy that could reinforce PDD’s edge in China’s e-commerce sector.
中国电商巨头PDD控股（Temu与拼多多母公司）今年一季度利润暴跌47%，其纳斯达克股价也重挫18%。分析师指出，特朗普时期的关税政策、增速放缓和国内竞争加剧是主要原因。联合创始人陈磊表示，公司面临外部压力，不得不接受增长放缓的现实，计划投入1000亿元人民币支持商家与吸引消费者。尽管瑞银警告宏观经济不确定性将持续影响盈利，但摩根士丹利认为，这是“短期阵痛，长期受益”，有望增强PDD在中国电商市场的竞争优势。
