"Competition is here to stay and is expected to intensify in our industry. High revenue growth is not sustainable, and a downward trend in profitability is inevitable."
"We need to invest more in supporting merchants - at a time rivals are trying to woo them away."
PDD reported revenue of 97.1 billion yuan for the June quarter, missing the average estimate of 100 billion yuan, showcasing the pressure they face from competitors.
Despite aggressive efforts, PDD is confronting serious challenges as its shares plummeted 26%, reflecting fears about its growth amidst fierce competition.
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