Shares of China's biggest e-commerce companies - Alibaba, JD.com and PDD Holdings - were dumped earlier this week on worries about pressure on their margins ...
SHANGHAI - Shares of China 's biggest e-commerce companies - Alibaba , JD.com and PDD Holdings - were dumped earlier this week on worries about pressure on their margins after low-price vendor PDD pledged to invest more for offering discounts.
The biggest winner over that period in terms of revenue growth and market capitalisation gains has been PDD, which operates discount focused platforms Pinduoduo for the domestic China market and Temu internationally. A $55 billion wipeout of PDD's market cap followed when executives told a post-earnings call that revenue growth and profits would be harder to come by amid increased competition at home and the need to "resolutely invest" in order to attract higher value merchants.
PDD's operating margin is the highest at 34% among the three, followed by Alibaba's 15% and JD.com's 3%, as it has a comparatively small team of just 17,400 employees. By contrast, the Alibaba Group has a workforce of around 200,000 and JD.com's workforce stood at 517,000 including 355,000 delivery personnel.
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