Temu Parent Company Executives Sell Small Amount of ADS Shares, Liquidate Direct Holdings

On March 30, Kam Anthony Ping Leung, an insider at PDD Holdings Inc. (NASDAQ: PDD), disclosed the sale of roughly 1,500 American Depositary Shares (ADS) at about $99 per share, totaling approximately $150,000 (around ₩200 million). On the same day, insider Ivonne MCM Rietjens reported a smaller sale of about 500 ADS at the same price, amounting to approximately $55,000 (around ₩70 million). Both insiders reported holding zero ADS following these transactions.

Recently, PDD has rapidly grown its revenues by leveraging its global low-cost online platform Temu and its China-based social commerce app Pinduoduo. However, the company now faces mounting regulatory pressure, including lawsuits in several U.S. states over its data collection practices (Source: AP News).

PDD Holdings, legally headquartered in Dublin, Ireland, is a large, Nasdaq-listed technology group that operates China’s Pinduoduo app and the global discount shopping app Temu (Source: Goldwire.io).