'Election Risks And Potential Tariffs' Among Other Geo-Political Issues Impacting Temu's Parent PDD, Says Analyst: 'Leading Many To Attach Zero Or Even Negative Value'
'Election Risks And Potential Tariffs' Among Other Geo-Political Issues Impacting Temu's Parent PDD, Says Analyst: 'Leading Many To Attach Zero Or Even Negative Value'
The stock of $PDD Holdings (PDD.US)$ the parent company of Temu, is currently trading at its lowest level ever. This is despite the company's robust growth and performance in the e-commerce sector.
的股票 $拼多多 (PDD.US)$ Temu的母公司目前的交易價格處於有史以來的最低水平。儘管該公司在電子商務領域實現了強勁的增長和業績，但情況仍然如此。
PDD's stock is currently at 13 times the expected earnings for the next year, which is only half the valuation of the Nasdaq 100. This is despite the company's impressive 43% surge from its March low, reported Bloomberg.
PDD的股票目前是明年預期收益的13倍，僅爲納斯達克100指數估值的一半。彭博社報道，儘管該公司從3月份的低點上漲了43％，令人印象深刻。
The company's success in pushing its budget e-commerce model into overseas markets has led to more than tripled earnings in the March-ended quarter.
該公司成功地將其廉價電子商務模式推向海外市場，使截至3月的季度收益增長了三倍多。
"People are worried about election risks and potential tariffs coming for PDD, leading many to attach zero or even negative value to Temu," said Shuyan Feng, deputy general manager for investment management at Huatai Asset Management in Hong Kong.
華泰資產管理香港投資管理副總經理馮舒燕表示：“人們擔心PDD面臨選舉風險和潛在的關稅，導致許多人對Temu的看法爲零甚至負值。”
However, this growth has also attracted scrutiny in key Western markets, with European complaints about the company's failure to protect consumers. In the U.S., lawmakers have accused Temu and rival Shein of exploiting loopholes to the disadvantage of U.S. competitors.
但是，這種增長也引起了西方主要市場的審查，歐洲人抱怨該公司未能保護消費者。在美國，議員們指責Temu和競爭對手Shein利用漏洞對美國競爭對手不利。
Despite the growth, the stock is being held back by geopolitical risks and fierce competition in China's e-commerce sector. The U.S. government's recent order for ByteDance Ltd. to divest TikTok has further increased pressure on Chinese internet firms, including PDD.
儘管有所增長，但該股仍受到地緣政治風險和中國電子商務行業激烈競爭的阻礙。美國政府最近下令字節跳動有限公司剝離抖音，這進一步增加了包括PDD在內的中國互聯網公司的壓力。
"The main thing holding back on PDD's valuation is the lack of disclosures," said Xin-Yao Ng, investment director at Abrdn. "It's very difficult to value domestic PDD and Temu separately, and that's important because there's definitely a big geopolitical discount on the stock due to Temu."
Abrdn投資董事吳欣耀表示：“阻礙PDD估值的主要因素是缺乏披露。”“很難分別對國內PDD和Temu進行估值，這很重要，因爲由於Temu，該股肯定會有很大的地緣政治折扣。”
Goldman Sachs Group recently upgraded PDD to buy from neutral, citing the company's strong revenue growth and ad tech capabilities. The main negative factors of tough domestic competition and tensions with the U.S. are "more than priced in," according to analyst Ronald Keung.
高盛集團最近將PDD從中性上調至買入，理由是該公司強勁的收入增長和廣告技術能力。分析師羅納德·強（Ronald Keung）表示，激烈的國內競爭和與美國的緊張關係的主要負面因素 “超出了預期”。
The geopolitical tensions impacting PDD Holdings Inc. come amid a broader context of its peers' competitive pressures and strategic moves. Recently, $babaannounced it had signed David Beckham as a global brand ambassador, aiming to bolster its e-commerce platform's global appeal.
影響PDD Holdings Inc.的地緣政治緊張局勢是在同行競爭壓力和戰略舉措的更廣泛背景下發生的。最近，$baba宣佈已簽約大衛·貝克漢姆擔任全球品牌大使，旨在增強其電子商務平台的全球吸引力。