Increased spending on supply chains and merchant support also weighed on its 2025 results.
Written by T. K. Lin
Published on
26 Mar 2026
3 mins read
PDD Holdings ended 2025 with revenue still growing, but profitability under pressure as it increased spending on merchants and supply chains.
PDD reported revenue of US$14.53 billion during the second quarter ended June, up 7 per cent from a year earlier.
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