Pinduoduo owner PDD moves headquarters to Ireland from China

Reuters
2023.05.04 01:15
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May 4 (Reuters) - PDD Holdings Inc, which owns discount e-commerce platforms Pinduoduo and Temu, has moved its headquarters from China to Ireland, according to recent filings from the company.

May 4 (Reuters) - PDD Holdings Inc (PDD.O) , which owns discount e-commerce platforms Pinduoduo and Temu, has moved its headquarters from China to Ireland, according to recent filings from the company.

The latest filings list Dublin as the company’s “principal executive offices”. Filings as recently as February show Shanghai as the listed address.

The Chinese company, which recently named Jiazhen Zhao, one of the founding members of PDD, as CEO did not immediately respond to a Reuters request for comment.

PDD reported revenue of 39.82 billion yuan ($5.76 billion) in the fourth quarter, falling short of estimates for 41.01 billion yuan, based on Refinitiv data, as China’s post-reopening consumer recovery remains patchy.

($1 = 6.9110 Chinese yuan)

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