China's Second Richest, PDD Founder Huang, Has Growth Worries Coming [Forbes]
PDD Holdings Inc. - American Depositary Shares (PDD)
Company Research
Source: Forbes
Colin Huang , founder of Chinese e-commerce giant PDD Holdings, boosted his wealth by $1.6 billion to $46.6 billion after the company reported a set of blowout results on Wednesday. But the tycoon, who is now China's second-richest billionaire, may struggle to sustain his position. Huang, 44, still owes most of his wealth to a PDD stake although he stepped down as chairman in 2021, according to Forbes estimates. Now led by founding member Chen Lei, the company formerly known as Pinduoduo grew its revenues by a whopping 123% year-on-year to 88.9 billion yuan ($12.5 billion) in the fourth quarter of 2023. Net income soared 146% to $3.3 billion from the same period a year ago. The consensus-beating results stood out in China's tech world, where fellow giants like Alibaba Group Holding and Tencent Holdings are only able to grow quarterly sales by single digits in a weak economy. PDD reported triple-digit growth thanks to a better executed discount strategy that attracted many budget
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PDD
News
- China has a 'fake gold' problem — locals are getting scammed into buying artificial jewelry [MSNBC.com]MSNBC.com
- China has a ‘fake gold' problem — locals are getting scammed into buying artificial jewelry [CNBC]CNBC
- PDD Holdings Files Annual Report on Form 20-F for Fiscal Year 2023GlobeNewswire
- Alibaba: Let's Clear Up Some Misconceptions [Seeking Alpha]Seeking Alpha
- China’s Pinduoduo Has Reshaped Discount Shopping [The New York Times]The New York Times
PDD
Earnings
- 3/20/24 - Beat
PDD
Sec Filings
- 4/25/24 - Form 20-F
- 3/27/24 - Form 144
- 3/26/24 - Form 144
- PDD's page on the SEC website