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China tech

Pinduoduo warns soaring profits won't continue, cites investments

Chinese e-commerce giant expects U.S. site Temu will be 'full of challenges'

Chinese e-commerce platform Pinduoduo told investors that they should not expect its high profitability to continue.   © Reuters

HONG KONG -- Pinduoduo's skyrocketing profit for the July-September quarter is unlikely to continue, the Shanghai-based e-commerce giant cautioned on Monday, as the company boosts investments to enhance its platform and improve the supply chain.

Good user engagement contributed to revenue growth, but "several investments in certain projects were affected" in the quarter, said Liu Jun, vice president of finance.

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