Worldview: PDD Takes $55 Billion Share Hit After Warning of ‘Inevitable’ Profit Decline

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. The owner of e-commerce apps Pinduoduo and Temu has warned of a decline, leading shares to fall 29 percent in New York. The warning arose as PDD’s e-commerce apps face rising competition in China and around the world, and as the tech sector has to tread a careful line in Beijing, where authorities are prioritising high-end manufacturing. On Monday,…