The Chinese group's revenue, which does not break down the evolution of Temu's business, totaled 183.871 billion yuan (US$ 25.810 billion), 104% more than between January and June of the previous year.

Chinese group PDD Holdings, parent company of e-commerce platform Temu, posted net attributable profit of 60.007 billion yuan (US$8.423 billion) at the end of the first half of 2024, representing an increase of 183% compared to the profits recorded in the same period of the previous year.

The Chinese group's revenue, which does not break down the evolution of Temu's business, totaled 183.871 billion yuan (US$ 25.810 billion), 104% more than between January and June of the previous year.

PDD Holdings' revenue in the first half of the year rose 40.5% in the online marketing services business to 91.572 billion yuan (US$12.854 billion), while revenue from transaction services rose 273% to 92.299 billion yuan (US$12.956 billion).

Between April and June, PDD Holdings posted a net profit of 32.009 billion yuan (US$ 4.493 billion), 144% more than a year earlier, while the group's turnover totaled 97.059 billion yuan (US$ 13.624 billion), 85.6% more.

"In the last quarter, our revenue growth rate slowed down quarter on quarter," said Jun Liu, vice president of Finance at PDD Holdings, adding that looking ahead, revenue growth will inevitably face pressure due to intensifying competition and external challenges.

"Profitability will also likely be affected as we continue to invest aggressively," he added.