0125 GMT - PDD Holdings is executing well and its business model remains intact, Barclays analysts say in a research note. The analysts estimate that Temu's gross merchandise value likely rose 100% on year in 4Q, while domestic business's GMV likely gained 17%. "We are particularly encouraged by the decent domestic growth despite the fact that PDD has been lowering take rate among merchants," they say. Barclays remains positive about Temu's business model and its value proposition to merchants via its consignment model and semi-consignment model despite all the concerns around tariffs and the de minimis tax exemption. The bank keeps PDD ADR's overweight rating and its target price at US$158.00. Shares last ended US$130.90. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
March 20, 2025 21:25 ET (01:25 GMT)
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