Temu group records massive surge in revenues and profit
Temu’s owner PDD Holdings has posted soaring profits and revenue for the first quarter ending March 31.
The Shanghai-based company saw total revenues increase 131% to ¥86bn (£9.3bn), up from ¥37bn (£4bn) in the same quarter last year. Operating profit surged 275% year on year to ¥26bn (£2.8bn), up from ¥6.9bn (£0.8bn).
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