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China's Temu owner reports profit drop amid rising trade tensions

IndiaTimes Wednesday, 28 May 2025
Temu's owner PDD Holdings reported a significant 47% drop in net profit for Q1 2025, reaching 14.7 billion yuan, as US-China trade tensions intensify. The decline is attributed to escalating trade tensions and a new US policy ending customs exemptions for low-value goods, impacting platforms like Temu. Revenue growth slowed for the fourth consecutive quarter, increasing by only 10% year-on-year.
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