---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/39500185.md"
description: "$PDD(PDD.US)The "King of Competition" is handing in its report card tonight. Pinduoduo is releasing its earnings tonight, which is a major event the market is watching closely.- Last year, Pinduoduo was incredibly strong, with Temu going crazy overseas, and even foreigners couldn't resist the temptation of the "slash one more time" deals.- But this year is a bit different. Regulatory pressure on Temu in the US is increasing, with a bunch of issues like tariffs and data security.- The domestic e-commerce scene is even more fiercely competitive, with Alibaba, JD.com, and Douyin all fighting for market share.If the earnings report shows overseas growth is still strong, the stock price might surge further; if Temu's growth slows, then we need to be careful. After all, at its current valuation, there's no room for any mistakes.To get to the point: Looking at its peers $TENCENT(00700.HK)$BABA-W(09988.HK), if it doesn't significantly beat expectations, the stock will likely fall. A rough estimate tonight suggests a possible 5% drop."
datetime: "2026-03-25T05:14:36.000Z"
locales:
  - [en](https://longbridge.com/en/topics/39500185.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/39500185.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/39500185.md)
author: "[温哥华的小雨](https://longbridge.com/en/profiles/1936932.md)"
---

# $PDD(PDD.US)The "King of Competition" is h…


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## Comments (7)

- **静安刀枪炮 · 2026-03-25T09:49:23.000Z**: Without the 10-billion-yuan subsidy, the Q4 earnings report is likely to miss expectations. Bearish tonight, preparing to bottom-fish.
- **保持平和 · 2026-03-25T05:53:51.000Z**: Phone calls might be more important than data.
  - **和时间做朋友C** (2026-03-25T05:58:44.000Z): Everyone has become desensitized, so the impact of conference calls might not be as significant anymore.
- **FreeBird2025 · 2026-03-25T05:43:20.000Z**: PDD is expected not to plummet after earnings, but it will still fall, within 5 percentage points.
- **和时间做朋友C · 2026-03-25T05:29:49.000Z · 👍 1**: I guess it will go up, because it has already followed a lot recently, and the market's bearish expectations have already been exhausted.
  - **和时间做朋友C** (2026-03-25T05:30:16.000Z): It has already fallen a lot recently.
- **拆少少 · 2026-03-25T05:25:44.000Z**: Is this valuation very high now?