Temu parent PDD's profits unsustainable, chairman warns again

Appointment of new auditor fuels speculation of dual listing in Hong Kong

PDD's Temu is leaning more on other markets after it was hit by steep U.S. tariffs due to the end of exemptions on small parcels. © Reuters

CISSY ZHOU

August 25, 2025 23:19 JST

HONG KONG -- PDD Holdings on Monday reported another disappointing quarter as the Chinese e-commerce giant faces uncertainties from the steep U.S. tariffs and escalating competition at home, prompting its chairman to note again that earlier profits are not sustainable.