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DE
Temu owner PDD sees slower growth in Q4 revenue
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TechNode
Why it matters: PDD’s slowing growth highlights the challenges of sustaining rapid expansion in a highly competitive e-commerce market.
PDD’s revenue from online marketing services and other streams in Q4 was RMB 57.01 billion ($7.87 billion), up 17% year over year.
PDD’s total cost of revenue for Q4 was RMB 47.8 billion ($6.59 billion), up 36% year over year, mainly due to higher fulfillment and payment processing fees.
Total operating expenses in Q4 rose 19% year over year to RMB 37.22 billion ($5.14 billion), driven by increased sales and marketing expenses.
Context: In February, PDD’s e-commerce platform Temu began preparations to enter the South Korean market and build a logistics network.
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