Temu growth decelerating sharply as de minimis loophole closes in US and EU, and competitive intensity rises (Shein, Amazon Haul). Domestic Pinduoduo also showing growth deceleration as Taobao fights back. Margins set to compress materially in 2026 as marketing spend rises and Temu unit economics deteriorate.
Thesis reviewed May 29, 2026
PDD Holdings Inc is headquartered in China, which is currently showing elevated risk signals.
π¨π³China72NEUTRALView China risk detail βπConsumer22NEUTRAL| Ticker | Company | Score | Gap | Signal Ξ | Action |
|---|---|---|---|---|---|
| NIO | NIO Inc | 27 | -10% | β2% | AVOID |
| F | Ford Motor Company | 27 | +12% | β2% | NEUTRAL |
| HD | The Home Depot Inc. | 27 | +13% | β2% | EARLY |
| MAR | Marriott International Inc. | 27 | +9% | β2% | EARLY |
| GM | General Motors Company | 27 | +12% | β2% | NEUTRAL |
| DIS | The Walt Disney Company | 27 | +12% | β2% | EARLY |
| LI | Li Auto Inc | 27 | +7% | β2% | NEUTRAL |
Investors who hold PDD may also have indirect exposure through these country funds.
US passes de minimis tariff reform; Temu landed costs to rise 25-40%
Temu downloads decline 18% in US in Q4
PDD operating margin guides down 800bps for 2026
Estimates Β· Yahoo Finance Β· Not audited figures