August 6, 2025 08:07 AM GMT PDD Holdings Inc | Asia Pacific 2Q25 Preview - Better positioned EC play We expect PDD to deliver resilient GMV (17% YoY) and revenue (15% YoY) growth in 2Q25, and a QoQ increase in net profit due to narrowed loss of Temu and higher interest & investment income. With peers focusing on competition in food delivery, PDD is better placed in shelf-base E-Commerce, in our view. 2Q25 Preview: We forecast PDD's OMS (Online marketing service) revenue to grow 15% YoY on domestic GMV growt ...