'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价格处于有史以来的最低水平。尽管该公司在电子商务领域实现了强劲的增长和业绩，但情况仍然如此。
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的股票目前是明年预期收益的13倍，仅为纳斯达克100指数估值的一半。彭博社报道，尽管该公司从3月份的低点上涨了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.
该公司成功地将其廉价电子商务模式推向海外市场，使截至3月的季度收益增长了三倍多。
"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.
华泰资产管理香港投资管理副总经理冯舒燕表示：“人们担心PDD面临选举风险和潜在的关税，导致许多人对Temu的看法为零甚至负值。”
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，这种增长也引起了西方主要市场的审查，欧洲人抱怨该公司未能保护消费者。在美国，议员们指责Temu和竞争对手Shein利用漏洞对美国竞争对手不利。
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.
尽管有所增长，但该股仍受到地缘政治风险和中国电子商务行业激烈竞争的阻碍。美国政府最近下令字节跳动有限公司剥离抖音，这进一步增加了包括PDD在内的中国互联网公司的压力。
"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投资董事吴欣耀表示：“阻碍PDD估值的主要因素是缺乏披露。”“很难分别对国内PDD和Temu进行估值，这很重要，因为由于Temu，该股肯定会有很大的地缘政治折扣。”
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.
高盛集团最近将PDD从中性上调至买入，理由是该公司强劲的收入增长和广告技术能力。分析师罗纳德·强（Ronald Keung）表示，激烈的国内竞争和与美国的紧张关系的主要负面因素 “超出了预期”。
The geopolitical tensions impacting PDD Holdings Inc. come amid a broader context of its peers' competitive pressures and strategic moves. Recently, $babaannounced it had signed David Beckham as a global brand ambassador, aiming to bolster its e-commerce platform's global appeal.
影响PDD Holdings Inc.的地缘政治紧张局势是在同行竞争压力和战略举措的更广泛背景下发生的。最近，$baba宣布已签约大卫·贝克汉姆担任全球品牌大使，旨在增强其电子商务平台的全球吸引力。