PDD Wants To Build 'Another Pinduoduo' — This Time By Reinventing China's Supply Chain

PDD Holdings Inc. (NASDAQ: PDD ) believes its next growth chapter may not come from selling more products online — but from reshaping how those products are made in the first place. During the company's first-quarter earnings call , PDD executives repeatedly framed 2026 as the beginning of a new era for the company, one centered around supply-chain control, first-party brands and deeper industrial transformation. "Our objective is to build another Pinduoduo in the next t hree years and to drive the transformation of the supply chain as a whole," PDD Co-CEO Lei Chen said during the call. The language stood out because it suggested management increasingly views the company's current marketplace model as maturing. Instead of relying solely on traffic growth and discount-driven commerce, PDD now appears focused on building a second act tied directly to manufacturing, logistics and branding infrastructure. PDD Calls 2026 A "New Starting Point" Executives also described 2026 as a reset year for the company itself. "2026 marks the new starting point for PDD's next decade," Chen said, adding that the company has "taken decisive steps ... Full story available on Benzinga.com