PDD Holdings (PDD) Q1 FY26 earnings call

PDD Holdings is embarking on a strategic reinvention, focusing on high-quality development and deep supply chain investments, including a new first-party brand business. The company delivered solid Q1 FY26 results, with revenue growth driven by transaction services, while prioritizing long-term value creation over short-term financial fluctuations. This strategic shift aims to empower manufacturers, enhance product quality, and strengthen the platform's ecosystem.