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13.10.25 - 19:12
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China′s Temu more than doubles EU profits to nearly $120m despite only having eight staff (The Guardian)
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Online marketplace paid just $18m in corporation tax, leading campaigners to call for government action The Chinese online marketplace Temu's EU operations more than doubled pre-tax profits last year to just below $120m (£90m) despite employing just eight people, accounts show.They rose 171% in the 12 months to December 2024 compared with the $44.1m the year before, as shoppers snapped up its low-cost goods, which are widely promoted on social media. Continue reading......
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17.09.25 - 14:06
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Temu′s UK operation doubles revenues and pre-tax profits (The Guardian)
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Super-budget Chinese retailer reports revenues of $63.3m last year, almost double its $32m in 2023Business live – latest updatesThe UK operation of the Chinese online marketplace Temu doubled revenues and pre-tax profits last year, as British consumers snapped up products offered by the super-budget retailer.Temu UK reported revenues of $63.3m (£46.4m) last year, almost double the $32m in 2023, while pre-tax profits similarly surged from $2m to $3.9m, accounts show. Continue reading......
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25.08.25 - 13:36
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Temu-owner PDD tops quarterly revenue estimates, margin squeeze continues (SCMP)
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E-commerce firm PDD Holdings, which operates low-cost platforms Pinduoduo in China and Temu internationally, easily beat market estimates for quarterly revenue on Monday, although net profit fell due to investments to ward off intensifying competition.
US-listed shares of the company jumped nearly 12 per cent in premarket trading, buoyed by adjusted earnings per ADS of 22.07 yuan, which exceeded estimates of 15.74 yuan.
The Chinese government has been seeking to boost domestic consumption to......
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13.06.25 - 15:06
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Temu resumes direct sales to US after Washington-Beijing trade truce (SCMP)
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Budget shopping site Temu, owned by Chinese online retailer PDD Holdings, is resuming direct shipments from China to the US, after Washington and Beijing agreed on a framework for a trade deal.
Some items that had been removed from Temu's US marketplace last month after it shifted to a “local fulfilment model” have been made available for sale in recent days. A Chinese seller surnamed Liu, who sells women's clothing from Dongguan, Guangdong province, said two of his dresses were made available......
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28.05.25 - 15:06
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PDD faces profit challenge amid Trump tariffs, domestic e-commerce competition (SCMP)
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Chinese discount e-commerce giant PDD Holdings, operator of Temu and Pinduoduo, faces increased profitability challenges amid US President Donald Trump's trade policies and heightened competition in its home market, according to analysts.
PDD on Tuesday reported a 47 per cent slump in first-quarter earnings amid slower sales growth, with results trailing market consensus. PDD's Nasdaq-listed shares tumbled as much as 18 per cent in New York overnight, as the company's poor report card suggested......
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28.05.25 - 06:48
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China′s Temu owner reports profit drop amid rising trade tensions (Times of India)
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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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