PDD Holdings Inc, which owns discount e-commerce platforms Pinduoduo and Temu, has moved its headquarters from China to Ireland, according to recent filings from the company.
The latest filings list Dublin as the company’s “principal executive offices”. Filings as recently as February show Shanghai as the listed address.
The Chinese company, which recently named Jiazhen Zhao, one of the founding members of PDD, as CEO did not immediately respond to a Reuters request for comment.
PDD reported revenue of 39.82 billion yuan ($5.76 billion) in the fourth quarter, falling short of estimates for 41.01 billion yuan, based on Refinitiv data, as China’s post-reopening consumer recovery remains patchy.
By Juby Babu; Editor: Gerry Doyle
Learn more:
Temu’s Ambitions Are Bigger Than Beating Shein
With a Super Bowl ad and a social marketing blitz, the Chinese-owned e-commerce platform has quickly built a big fast fashion business in the US. Analysts say its business is set up to potentially compete with Amazon and TikTok.
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Fashion News Click Here
