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Shares of PDD Holdings Inc. PDD were soaring 16% in premarket trading Tuesday after the Chinese e-commerce company blew past expectations for its latest quarter.
The company, which is the parent of popular fast-fashion platform Temu, reported third-quarter net income of RMB15.5 billion ($2.1 billion), or RMB10.60 per American depositary share, whereas it recorded net income of RMB10.6 billion, or RMB7.34 per ADS, in the year-earlier period.
On…
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