Chinese regulators dispatch 100+ investigators to PDD Holdings' Shanghai headquarters following employee clashes with officials. Investigation covers fraud allegations and tax issues, triggering stock decline.
Chinese food delivery stocks surge as regulators investigate price wars. Meituan, Alibaba, and JD.com rally on hopes authorities will end costly subsidy battles.
Novo Nordisk cuts Wegovy obesity drug prices by half in Chinese provinces as patent expiration looms and local competitors prepare cheaper alternatives.
PDD Holdings (PDD) reports 9% revenue growth and beats profit forecasts, but shares fall as company cautions about fierce competition and regulatory challenges affecting its China and Temu businesses.
Alibaba, JD.com, and Douyin see record-breaking Singles’ Day sales as AI helps brands grow amid a slow economy.
JD.com's (JD) Q3 revenue surged 15% to $42B, surpassing estimates with Singles Day success and 700M active users, though net income dropped 55% amid aggressive expansion into food delivery.
