PDD Founder’s Wealth Drops on Cooling Sales Growth
A revenue warning from Chinese e-commerce giant PDD, which owns Temu, has caused a plunge in its shares and dented the wealth of founder Colin Huang. The company’s earnings also reinforce concerns about worsening prospects for Chinese consumer firms. Lombard Odier CIO John Woods tells "Bloomberg: The China Show" that it’s becoming harder to find value in Chinese stocks as corporate revenues remain under pressure.
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