MONEY MASTER

Key Takeaway:  After tariff-driven setbacks,  Temu , owned by  PDD Holdings Inc. , is mounting a comeback in the U.S. with deep price cuts, renewed advertising, and a logistics overhaul as it battles  Shein  for market share. Price Cuts and Consumer Push Prices of at least  two dozen best-selling items  tracked by Bloomberg dropped  18% on average  since April. Some items were slashed by as much as  60% . Temu has also stopped charging  import fees , which previously inflated final costs — at times exceeding the value of the goods themselves. The retailer is pushing merchants to restock for the  U.S. holiday season , offering better app traffic in exchange for steeper discounts. Impact of Tariff Changes Temu’s business model — shipping small parcels directly from China to U.S. households — was upended after  President Trump removed the de minimis tariff exemption  earlier this year. U.S. sales  plunged more than ...

  Indonesia has requested that Apple and Google block Temu , a Chinese fast fashion e-commerce platform, from their app stores to protect small and medium-sized businesses in the country, according to communications minister Budi Arie Setiadi . The move is aimed at pre-empting unhealthy competition from Temu , which offers cheap products by connecting consumers directly with factories in China, despite authorities not yet finding transactions involving Indonesian residents. Temu, owned by PDD Holdings , has faced scrutiny in several countries due to its low-cost business model. Indonesia's decision aligns with its previous move to force TikTok to close its e-commerce service in the country to protect local merchants and users' data. The government is also considering a similar block for Shein , another Chinese e-commerce platform. Indonesia’s e-commerce industry is growing rapidly and is expected to reach US$160 billion by 2030.

PDD Holdings Inc, the parent company of the e-commerce platform Temu, saw its shares dive as much as 18% following a warning from the company that its rapid revenue growth is unsustainable. This decline comes as PDD faces mounting competition from rivals such as ByteDance’s TikTok and Alibaba Group Holding Ltd, which are also targeting budget-conscious consumers. Key Points: Revenue and Profitability Concerns : Co-founder Chen Lei emphasized that PDD’s current revenue growth trajectory is not sustainable and that a decline in profitability is inevitable. This warning led to a sharp decline in the company's stock during pre-market trading in New York. Financial Performance : For the June quarter, PDD reported revenue of 97.1 billion yuan (approximately RM59.59 billion), missing the average analyst estimate of 100 billion yuan. However, the company’s net income was higher than expected at 32 billion yuan, compared to a projected 27.5 billion yuan. Intense Competition : PDD has been a...

Colin Huang, the visionary behind Pinduoduo and owner of the e-commerce platform Temu, has emerged as China’s richest person, according to the Bloomberg Billionaires Index. Despite a previous decline in his wealth, Huang’s fortune has rebounded to $48.6 billion, fueled by the expansion of Temu and changing shopping habits in China. Key Highlights: Rising from Setbacks: Huang's journey is marked by resilience. After an initial rise in wealth, his fortune plummeted by 87% during China's crackdown on the private sector. However, the success of Temu, particularly its expansion outside China, has driven a significant recovery. Pinduoduo’s Comeback: PDD Holdings Inc, the parent company of Pinduoduo, has staged a steady comeback, thanks to Temu's popularity and China's evolving consumer market amidst economic challenges. Outshining Rivals: With his $48.6 billion fortune, Huang has overtaken Zhong Shanshan, the previous titleholder, and becomes the first tech tycoon in more ...