PDD HOLDINGS
Chinese ecommerce giants face delicate balance between discounts, profit
Alibaba's earnings reports are crucial indicators for China's consumer sentiment, influenced by competition from Pinduoduo and Douyin. The demand for discounts affects revenue and profit margins, posing challenges for selling premium products.
And Action! Amazon leans into video in emerging Europe's online marketplace fight
Amazon and Temu challenge Allegro in Poland. Allegro leads in online sales. Amazon focuses on video, while Temu competes with low prices. Allegro plans expansion into new markets despite challenges like inflation.
Chinese TikTok sellers complain of under-fire platform tightening US rule enforcement
Chinese-owned TikTok, which faces the threat of having to divest its US operations or be banned, has in recent weeks taken a harder stance toward enforcing its internal rules, according to five Chinese vendors on the site and an industry association that represents 3,000 Chinese stores selling products online.
US stocks hold ground ahead of Fed decision
Wall Street awaits Federal Reserve meeting outcome on interest rates and monetary policy. Market indices show minimal changes. Focus on policy statement, economic projections, and Chair Powell's conference. Traders pulled back bets for a June rate cut to 64% from 71% at the start of last week, according to CME FedWatch data.
Low-cost ecommerce giant PDD Holdings beats quarterly revenue estimates
The e-commerce giant continues to gain market share with highly competitive pricing in China and overseas as customers spend on affordable or discounted products in uncertain economic times.
Big American tech profits from Chinese ad spending spree
Temu, the international arm of Chinese e-commerce giant Pinduoduo, is flooding Google with ads for absurdly inexpensive goods. With an initial public offering looming, fast-fashion merchant Shein is inundating Instagram with ads for clothes and accessories at rock-bottom prices.
South Korea probes data protection by ecommerce platforms like AliExpress, Temu
The Personal Information Protection Commission said it has been investigating overseas ecommerce platforms since last month, after a parliament audit last year raised questions about data handling by platforms such as AliExpress and PDD Holdings' international facing discount ecommerce platform Temu.
Alibaba dips on MS downgrade as PDD grabs spot of most valuable Chinese e-commerce firm
Alibaba's U.S. shares slipped 1.5% to $73.7 in premarket trading, tracking a fresh one-year low. They are down 14% since the company posted in line second-quarter revenue and scrapped plans to spin off its cloud business.
Alibaba set to lose no. 1 ecomm player spot to PDD
The once-inconceivable shift reflects the turmoil that engulfed Alibaba after Beijing in 2020 targeted the company and its once-outspoken co-founder, kicking off a sweeping crackdown on the powerful tech sector. It also signals the rise of a generation of upstarts from PDD to ByteDance, which are disrupting the traditional arenas of social media and e-commerce.
Jack Ma returns to rally troops after Alibaba’s troubles deepen
“Every great company is born in a winter,” Ma wrote in response to a staff post. “The people willing to reform for the future, and the organizations willing to pay any price and sacrifice, are the ones that are truly respected.”
Alibaba banks on aggressive Singles Day pricing to recoup sales mojo
While Alibaba has announced that it will offer 80 million products at their lowest prices this year during Singles Day, which began in late October and stretches till November 11, the push to get merchants to toe its line is unusual for the company, they said.
Low-cost ecommerce rivals Shein and Temu shelve US court cases
Joint declarations were filed to courts in Chicago and Boston by lawyers representing the companies and their subsidiaries, requesting that two legal cases be dismissed "without prejudice" by their judges.
New Alibaba Group CEO lays out strategic priorities for staff
New Alibaba Group CEO Eddie Wu has told staff the tech giant's two main strategic focuses going forward will be "user first" and "AI-driven", according to an internal letter reviewed by Reuters.
Pinduoduo-owner PDD beats second-quarter revenue expectations, shares jump
Ecommerce platforms in China have been offering discounts and subsidies to lure shoppers in an uncertain economy. The focus on low-cost products has helped Chinese firms such as JD.Com and Alibaba Group to report better-than-expected quarterly revenue earlier this month.
China fast-fashion retailer Temu blasts rival Shein over 'exclusionary tactics'
Chinese e-retailer Temu said on Wednesday it has been the target of rival Shein's "unlawful exclusionary tactics" since Temu's U.S. launch in 2022, ramping up a feud between the fast-fashion competitors days after a lawsuit was filed.
Jack Ma’s clash with Beijing costs Ant, Alibaba $850 billion
Chinese authorities said on Friday they would wrap up a probe into Ant with the financial technology company paying a fine of almost $1 billion.
Price war: Amazon excludes rival Temu from competitive price checks
Amazon is excluding its new competitor Temu from its price searching algorithm that checks if products sold on its platform are competitive with rivals, saying the site doesn't meet its standards.
Alibaba fourth-quarter revenue rises 2%
Alibaba Group Holding Ltd. reported fourth-quarter revenue that missed expectations, as Chinese consumer spending has gained some momentum but remains relatively muted amid a wobbly economic recovery. The company plans to restructure into six units, a move that follows a two-year regulatory crackdown on China's tech sector. Net income attributable to ordinary shareholders was 23.52 billion yuan, compared with a loss of 16.24 billion yuan. Revenue for the full year climbed 2% to 868.
Google suspends Chinese ecommerce app Pinduoduo after finding malware in versions
The Mountain View-based company said on Tuesday it has found versions of the app, offering PDD Holdings Inc.’s flagship e-commerce service, to contain malware.
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