PDD Holdings (PDD) Q1 FY25 earnings call

PDD Holdings reported a notable slowdown in Q1 FY25 revenue growth to RMB 95.7 billion, coupled with a significant decline in profitability due to substantial ecosystem investments and external headwinds. The company is prioritizing long-term intrinsic value over short-term financial performance, committing to the RMB 100 billion support program to aid merchants through intensified competition and policy changes, despite the expected continued pressure on profitability.