Temu Owner Faces Sales Disappointment After Global Expansion Slows

Recently, PDD Holdings, which operates actively through the Temu platform, has faced setbacks in its financial performance. Several factors contributed to this sales decline, which occurred amid a slowdown in the pace of global expansion. The platform, known for its low prices on Chinese goods, struggled to maintain its initial growth, raising concerns among investors and analysts.

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Temu's Founder Loses Title as China's Richest Person After Just 18 Days

The founder of the e-commerce platform Temu, Fan Lin, has lost his title as the richest person in China after only 18 days. This change comes amid fluctuations in the market value of his company, Pinduoduo. Earlier, Fan Lin was named the richest after the rise in Pinduoduo's stock price, but after a recent decline, he has fallen behind another Chinese businessman for the top spot.

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