PDD(US:PDD) Zhong Guo Jing Ji Wang·2025-12-19 09:55Core Viewpoint - Pinduoduo Group announced an upgrade to its corporate governance structure by implementing a co-chairman system, appointing Zhao Jiazhen as co-chairman alongside Chen Lei, which aims to enhance the company's focus on high-quality development and supply chain upgrades [1][3]. Group 1: Governance Changes - The company has appointed Zhao Jiazhen as co-chairman and co-CEO, alongside Chen Lei, to strengthen its governance structure [1]. - This governance upgrade is part of Pinduoduo's ongoing efforts to adapt to evolving business needs since Chen Lei took over as chairman in 2021 and the introduction of co-CEOs in 2023 [1][3]. - The new leadership aims to focus on the core strategy of high-quality development and supply chain enhancement [1][3]. Group 2: Strategic Focus - Pinduoduo is shifting its strategy to concentrate on the high-quality development of the Chinese supply chain, moving away from diversification [3][5]. - The company has launched various initiatives, such as "Billion Reduction" and "New Quality Supply," to support local businesses and enhance supply chain efficiency [2]. - The "2025 Duoduo Good Specialty" initiative has successfully promoted agricultural products, resulting in a 47% year-on-year increase in sales of agricultural products on the platform [2]. Group 3: Market Position and Challenges - Temu, a subsidiary of Pinduoduo, has rapidly expanded its market presence globally, achieving significant growth in just three years [3][5]. - The company acknowledges the challenges posed by changing international geopolitical and regulatory environments, emphasizing the need for systematic changes in governance and talent management [3][4]. - Pinduoduo aims to maintain compliance and contribute positively to society while navigating these challenges [4].