Shares of PDD Holdings, the owner of Temu, rose on the London Stock Exchange on Monday. Despite a significant decline in profits compared to last year, the company beat analyst estimates in the second quarter. Its quarterly revenue reached 112.4 billion yuan ($16.7 billion), up 8% year-on-year. However, this figure fell short of the Wall Street consensus of 116.35 billion yuan. The company, headquartered in Dublin, Ireland, also operates from Shanghai, China.
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