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PDD - Pinduoduo Inc News Story

$137.62 -2.6  -1.8%

Last Trade - 09/04/21

Sector
Technology
Size
Large Cap
Market Cap £120.23bn
Enterprise Value £112.37bn
Revenue £6.62bn
Position in Universe 64th / 6827

China fines platforms owned by Meituan, Pinduoduo over improper pricing

Wed 3rd March, 2021 3:05am
SHANGHAI, March 3 (Reuters) - China fined on Wednesday five
community group-buying platforms owned by the likes of Meituan
 3690.HK , Pinduoduo  PDD.O  and Didi Chuxing, citing "improper
pricing behaviour".
    The State Administration of Market Supervision said it had
decided to fine Didi-owned Chengxin Youxuan, Pinduoduo's Duo Duo
Maicai, Meituan Youxuan, Nicetuan and Shixianghui amounts
ranging from 500,000 yuan ($77,341.91) to 1.5 million yuan. 
($1=6.4648 Chinese yuan renminbi)

 (Reporting by Brenda Goh; Editing by Clarence Fernandez)
 ((brenda.goh@thomsonreuters.com; +86 (0) 21 2083 0088; Reuters
Messaging: brenda.goh.thomsonreuters.com@reuters.net))
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