Governance Structure - Pinduoduo Group announced an upgrade to its governance structure by implementing a co-chairman system during its annual shareholder meeting [1] - Zhao Jiazhen has been appointed as co-chairman alongside Chen Lei, who also serves as co-CEO [1] - Since Chen Lei took over as chairman in 2021 and the establishment of co-CEOs in 2023, Pinduoduo has been continuously improving its co-governance mechanism to better adapt to the evolving business needs [1] Business Development - Zhao Jiazhen highlighted that Temu has achieved significant scale at a surprising speed over the past few years, driven by the benefits of China's supply chain industry [2] - This growth presents new opportunities for the development of domestic supply chains and for the next phase of transformation for both Pinduoduo and Temu [2] - The company aims to focus on high-quality development, planning to reinvest in the Chinese supply chain over the next three years to promote high-quality development and branding [2]