PDD Holdings Inc. American Depositary Receipt

PDD Holdings Inc. American Depositary Receipt is a U.S.-traded depositary receipt representing PDD Holdings Inc. ordinary shares. PDD Holdings Inc. is a multinational commerce group focused on digital retail, operating the Pinduoduo social commerce platform in China and the Temu online marketplace for international consumers and merchants. Its businesses center on mobile-first shopping, product discovery, and merchant connectivity across a broad range of consumer categories, including everyday goods and agricultural products. The company also supports its commerce ecosystem through sourcing, logistics, and fulfillment capabilities that help merchants reach customers efficiently. As an American Depositary Receipt, PDD provides a way for U.S. market participants to gain exposure to the company’s common equity through a listed U.S. security tied to its underlying foreign shares. The asset is an important reference point in the global internet retail and cross-border e-commerce sectors.