On March 25, PDD Holdings Inc released its financial results for the fourth quarter and full year of 2025. During the earnings conference call, Chen Lei, Co-Chairman and Co-CEO of PDD, stated that since the beginning of this year, competition within the e-commerce sector has escalated, focusing on new business initiatives and technologies. The international environment has become more complex compared to the previous year, with increased uncertainty in trade conditions and regulatory policies across different countries and regions. These factors are expected to present greater challenges and could impact short-term performance to some extent. The company will adhere to its long-term philosophy and implement a "heavy investment in supply chain" strategy, directing more resources from its "hundred-billion support" initiative back into industries and society.

During the call, PDD's management also indicated that the "rebuilding PDD in three years" strategy is progressing steadily. Zhao Jiazhen, Co-Chairman and Co-CEO of PDD, mentioned that over the past few months, the major three-year strategy announced at the shareholders' meeting is being translated into concrete actions, driving significant changes within the business and organizational structure. Additional merchant-friendly strategies, similar to the "hundred-billion support" plan, will be rolled out successively.