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25.03.26 - 13:48
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Pinduoduo operator PDD′s profit slides as Chinese firm cites higher reinvestment (SCMP)
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PDD Holdings, the Chinese e-commerce group behind Pinduoduo and global budget marketplace Temu, on Wednesday reported an 11 per cent drop in quarterly profit amid higher sales as the company continued a pivot towards greater reinvestment.
Net profit for the quarter fell to 24.5 billion yuan (US$3.6 billion), missing a consensus analyst estimate of 29.1 billion yuan. Meanwhile, revenue rose 12 per cent from a year earlier to 123.9 billion yuan, aligning with a consensus analyst estimate of 123.7......
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19.11.25 - 11:01
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Tech Brief (Nov. 19): PDD′s Revenue Growth Rebounds After Five-Quarter Slowdown (Caixin)
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Google releases next-generation Gemini 3 model
On Tuesday local time, Google launched its next-generation large model, Gemini 3, with enhanced capabilities in multimodal reasoning, code writing and content generation. Its pro version supports an ultra-long context input of 1 million tokens and an output of 64,000 tokens. Gemini 3 will be integrated into the Gemini app, Google's AI search products and its enterprise-level products. The model will be available to select subscribers starting Tuesday and will be rolled out more broadly in the coming weeks.
Xiaomi's EV and AI businesses post first quarterly profit
Xiaomi Corp. reported its first-ever quarterly profit from its electric vehicle (EV) and artificial intelligence (AI) businesses, marking a milestone in the tech giant's diversification strategy, though the achievement was overshadowed by the mounting pressure on its mainstay smartphone business. The company's EV, AI and other new initiatives segment posted an operating profit of 700 million yua...
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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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