NEW YORK, Aug. 29, 2024 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of PDD Holdings Inc. f/k/a Pinduoduo Inc. (NASDAQ: PDD).Shareholders who purchased shares of PDD during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/pdd-holdings-inc-f-k-a-pinduoduo-inc-loss-submission-form/?id=98730& ...

Investment Rating - The report maintains a "Buy" rating for Pinduoduo with a target price of $119.82 per ADS [19][24]. Core Insights - Advertising revenue growth has slowed down, with Q2 2024 revenue at 97.1 billion CNY, a year-on-year increase of 86%, which is below market expectations of 100 billion CNY [16]. - The company reported a net profit of 34.4 billion CNY in Q2 2024, exceeding market expectations of 30.1 billion CNY, with a profit margin of 35.5% [16]. - Pinduoduo plans to increase investments in enhancing platform safety and supporting quality merchants to achieve high-quality growth amid intensified external competition [16]. Financial Performance Summary - Q2 2024 revenue: 97.1 billion CNY, up 86% YoY; advertising revenue: 49.1 billion CNY, up 29% YoY; commission revenue: 47.9 billion CNY, up 234% YoY [16]. - Q2 2024 adjusted net profit: 34.4 billion CNY, with a profit margin increase of 6.3 percentage points YoY [16]. - The company’s operating costs increased by 80% YoY, primarily due to fulfillment and payment processing fees [16]. Earnings Forecast and Valuation - Revenue projections for 2024-2026 are adjusted to 406.9 billion CNY, 511.1 billion CNY, and 600.3 billion CNY respectively, with adjusted net profits of 127.8 billion CNY, 154.3 billion CNY, and 194.5 billion CNY [17]. - The valuation approach includes PE valuation for the profitable main site and P/GMV valuation for high-growth segments like Duoduo Grocery and TEMU, leading to a total valuation of approximately 1,664 billion USD [24][25].

Core Viewpoint - A class action lawsuit has been filed against PDD Holdings Inc. for allegedly misleading investors regarding illegal business practices, including the presence of malware in its applications and the sale of goods made by forced labor [1][2]. Allegations - The lawsuit claims that PDD's applications contained malware designed to obtain user data without consent, including access to private text messages [1]. - It is alleged that PDD lacks a meaningful system to prevent the sale of goods made by forced labor and has sold banned products on its Temu platform [1]. - The company is said to be exposed to increased legal and political scrutiny due to these practices [1]. - As a result, statements made by PDD regarding its business operations and prospects are claimed to be materially false and misleading [1]. Class Action Participation - Shareholders wishing to serve as lead plaintiffs must file their papers by October 15, 2024, and do not need to participate in the case to be eligible for recovery [2]. - All representation in the class action is on a contingency fee basis, meaning shareholders incur no fees or expenses [2]. About Robbins LLP - Robbins LLP is a recognized leader in shareholder rights litigation, having recovered over $1 billion for shareholders since its inception in 2002 [3].

Core Viewpoint - A class action securities lawsuit has been filed against PDD Holdings Inc. (formerly Pinduoduo Inc.) alleging securities fraud affecting investors between April 30, 2021, and June 25, 2024 [1][2]. Group 1: Allegations and Impact - The lawsuit claims that PDD's applications contained malware designed to obtain user data without consent, including reading private text messages [2]. - It is alleged that PDD lacks a meaningful system to prevent the sale of goods made by forced labor on its platform and has sold banned products on its Temu platform [2]. - The aforementioned issues have subjected the company to increased legal and political scrutiny, rendering previous statements about its business operations materially false and misleading [2]. Group 2: Legal Process and Participation - Investors who suffered losses during the specified timeframe have until October 15, 2024, to request appointment as lead plaintiff, although participation in any recovery does not require serving as a lead plaintiff [2]. - Class members may be entitled to compensation without any out-of-pocket costs or fees, with no obligation to participate [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a history of securing hundreds of millions of dollars for shareholders and is recognized as one of the top securities litigation firms in the United States [3].

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The Chinese e-commerce leader is still firing on all cylinders.PDD Holdings (PDD -4.09%), one of China's top e-commerce companies, was one of the few Chinese stocks that bucked the sector's ongoing sell-off. Its stock price rallied 80% over the past 12 months, while shares of Alibaba (BABA -0.38%) and JD.com (JD 2.25%) declined 5% and 21%, respectively.Given the strong performance, some investors might be wondering if there is any more growth left to tap into. Let's review four reasons why PDD is still wort ...

PDD Holdings (PDD)  had been one of the better-performing stocks in recent years but has now dropped 30% since reporting Q2 results on Monday. The sharp selloff comes as the multinational e-commerce firm reiterated that a decline in its profitability is inevitable and expects the trend to start during Q3.Stiffer competition and broader economic concerns in China are anticipated despite PDD’s discounted merchandise allowing the company to take market share from other e-commerce titans such as Alibaba (BABA) ...

Robert Way Article Thesis PDD Holdings Inc. (NASDAQ:PDD) reported stronger-than-expected profits for the most recent quarter, but revenues missed estimates and management's comments suggest that growth will slow down going forward. This has resulted in a hefty share price reaction, which might be an overreaction, as PDD wasn't expensive even before this share price pullback. Past Coverage I have covered PDD Holdings Inc. here on Seeking Alpha, in an article from earlier this year. I gave the company a " ...

The company suffers the aftermath of a disappointing quarter.Even though PDD Holdings (PDD -4.09%) had little proprietary news to report on Tuesday, its stock was affected by the latest analyst moves. Several pundits tracking the Chinese e-commerce incumbent cut their price targets a day after its latest earnings release -- with one even downgrading her recommendation -- leading to a sell-off by Mr. Market.PDD's American depositary receipts (ADRs) ended the day more than 4% lower in price, contrasting unfav ...

NEW YORK, Aug. 27, 2024 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of PDD Holdings Inc. f/k/a Pinduoduo Inc. (NASDAQ: PDD). Shareholders who purchased shares of PDD during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/pdd-holdings-inc-f-k-a-pinduoduo-inc-loss-submission-form/?id ...