On June 15, PDD Holdings rose 3.07% in regular trading, trading at $83.99/share with turnover of $273 million, rebounding from near its 52-week low.

On the news front, PDD's newly established Xiongan subsidiary welcomed its first 150 employees through direct-signing contracts, with an average of nearly 30 employees completing onboarding per business day as the dedicated recruitment plan accelerates. The Xiongan entity, registered on May 27 with an initial cash injection of RMB 500 million, focuses on big data processing, digital operations, and cloud platform services, with a commitment to create over 5,000 jobs across the full recruitment cycle.

The strategic move is viewed as a clear signal of PDD's transformation from rapid e-commerce expansion toward building supply chain infrastructure and platform governance capabilities. This development has helped offset bearish sentiment stemming from Q1 earnings that missed expectations and a EUR 200 million EU fine imposed on Temu under the Digital Services Act, both of which had previously weighed on shares.

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