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PDD Jul 2024 85.000 call
- South China Morning Post
PDD Holdings' Colin Huang and ByteDance's Zhang Yiming top China's tech rich list
Colin Huang Zheng, the 44-year-old founder of PDD Holdings, and Zhang Yiming, the 41-year-old founder of ByteDance, are the richest tech entrepreneurs in China, according to a list published by Chinese magazine New Fortune on Wednesday. Huang, whose wealth is largely derived from the popularity of budget e-commerce platforms Pinduoduo and Temu, has a personal wealth of 425 billion yuan (US$59 billion), followed by Zhang, whose 21 per cent stake in TikTok's parent company gives him a personal net
- Reuters
China's discount wars risk cementing frugal consumer mindset
SHANGHAI (Reuters) -An aggressive market grab by low-cost Chinese retailers has delivered bumper earnings for some firms but has also intensified a bruising price war, exacerbating deflationary fears in the world's second-largest economy. From coffee to cars to clothes, China's discount retailers have cut prices on just about everything as they chase a consumer whose confidence has been battered by a property crisis, high unemployment and a gloomy economic outlook. "If this situation continues, China may end up with what we call a vicious cycle: lower value added consumption, deflation, low profit rates leading to low wages, which further pushes consumers to downgrade their consumption," said He-Ling Shi, an economics professor at Monash University in Melbourne.
- Simply Wall St.
While shareholders of PDD Holdings (NASDAQ:PDD) are in the black over 5 years, those who bought a week ago aren't so fortunate
For many, the main point of investing in the stock market is to achieve spectacular returns. And we've seen some truly...
