The stock price of Chinese Temu company falls, leading to a major decline in the assets of its president.
The money held by Kolin Huang, president of PDD Holdings, who created China's cheap online shopping apps, Temu and Ping Tada, has decreased by approximately 815.1 billion yen in one day.
This is because PDD stock prices suddenly fell in the US stock market.
Now, Huang's assets are around 5.2 trillion yen, but it's less than before.
PDD's sales from January to March 2025 increased by 10% from last year to around 1.9 trillion yen.
However, the company's profits have been reduced by 47%.
PDD stock price has fallen even further after this news
PDD companies are suffering from high customs (import tax) on overseas Temu
In addition, competition from other companies is becoming more intense in China.
Therefore, PDD reduces fees for receiving from stores and increases support.
In the US, there was a rule that does not apply tariffs on small packages under $800, but this rule has recently ended.
This makes it difficult for Temu and other Chinese online shops to do business in the US
Now, Temu is working with an American company to find ways to reduce tariffs
Even in China, PDD is in strong competition with companies such as Alibaba and JD.com.
These companies focus on the service of delivering products within an hour of ordering
It seems that more effort will be needed in the future for PDDs.
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