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Temu parent PDD takes Alibaba’s spot as China’s most valuable e-commerce firm

Temu parent PDD takes Alibaba’s spot as China’s most valuable e-commerce firm
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Growth of PDD’s Temu marketplace has helped the comapny lead China’s e-commerce arena.

Rafael Henrique | Sopa Images | Lightrocket | Getty Images

PDD’s value-for-money positioning and growth of its Temu marketplace has helped the company lead China’s e-commerce arena, analysts said, making it the country’s most valuable company in the segment.

PDD Holdings reported stellar first-quarter results on Wednesday last week, sending its shares surging as much as 7.5%, and driving its market-cap past that of rival Alibaba Group. PDD shares have more than doubled in value — up 109% — in the past year, according to LSEG data.

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