PDD Holdings: Reinventing E-Commerce Through Merchant Support & Agricultural Innovation

PDD Holdings Inc. has presented a performance in the third quarter of 2025 that reflects the challenges and opportunities in the evolving e-commerce landscape. The company reported revenues of RMB 108.3 billion, marking a 9% year-over-year increase, fueled by growth in online marketing services and transaction revenues. However, growth remains pressured amidst an intensely competitive environment in the e-commerce sector. On the positive side, PDD Holdings highlighted the execution of strategic initiatives like the RMB 10 billion fee reduction program and the RMB 100 billion support initiative aimed at facilitating merchant growth and innovation. These measures, designed to bolster the ecosystem, have promoted quality merchant development and the broader accessibility of products, especially agricultural produce through the “Duo Duo Premium Produce” campaign. The company has also stepped up its support for industrial belts, resulting in significant merchant growth and product quality improvements.