On June 23, PDD Holdings fell 3.02% in regular trading, trading at $75.81/share, with turnover of $291 million, extending its recent downtrend.

On the news front, PDD's previously released Q1 results disappointed the market, with revenue of RMB 106.23 billion (+11.03% YoY) and net profit of RMB 12.55 billion (-14.89% YoY). Additionally, the European Union imposed a 200 million euro fine on its cross-border e-commerce platform Temu under the Digital Services Act. Following a 19-month investigation, EU regulators determined that certain Temu products posed safety risks and that its algorithm-driven recommendation system accelerated the distribution of non-compliant goods. If substantive rectification is not completed within the deadline, PDD could face an additional penalty of up to 6% of its global annual revenue, significantly amplifying compliance pressure and strategic uncertainty.

Within the Broadline Retail sector, Chinese e-commerce stocks were broadly under pressure, with Alibaba down 2.79% and JD.com down 3.03%, while Amazon.com rose 0.49% and MercadoLibre gained 0.61%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)