PDD Holdings (PDD) Q4 FY25 earnings call

PDD Holdings delivered steady Q4 FY25 results, with revenue growth driven by strong transaction services, reflecting its strategic focus on deep, long-term investments in supply chain capabilities. Despite short-term profitability pressures from these investments and a complex global environment, the company remains committed to high-quality development and ecosystem transformation, aiming to build "another Pinduoduo" over the next three years.