On July 8, Pinduoduo rose 3.08% overnight, trading at $85.07 per share, with turnover of $4.4857 million. The gain was driven by news that PDD's Xiongan subsidiary has surpassed 1,200 employees, making it the largest private enterprise by headcount in Xiongan New Area.

According to company management, PDD plans to develop its Xiongan subsidiary into a data processing service center and a hub for high-quality development of traditional manufacturing, with employee headcount targeted to reach 5,000 within the next year. The company completed its first batch of 1,000 recruitment positions ahead of schedule, with over 80% of hires from the Beijing-Tianjin-Hebei region. PDD previously signed an agreement with China Power Construction to acquire an entire 12-story office building in Xiongan, becoming the first internet company to purchase office space in the new area, with full occupancy expected by end of July.

Additionally, PDD donated 10 million yuan in emergency relief funds to support flood-affected areas in Guangxi province following severe weather events.

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