Temu-owner PDD Holdings profit dives as it faces challenges at home and abroad

Chinese e-commerce firm PDD Holdings PDD.O saw first-quarter net profit fall 47% to 14.74 billion yuan ($2.05 billion) as its domestic platform suffered from intense local competition and its international business was hit by global trade uncertainty.U.S.-listed shares of the company fell more than 17%.

​ Chinese e-commerce firm PDD Holdings PDD.O saw first-quarter net profit fall 47% to 14.74 billion yuan ($2.05 billion) as its domestic platform suffered from intense local competition and its international business was hit by global trade uncertainty.U.S.-listed shares of the company fell more than 17%. Read More Breaking News, Latest News and Videos | CNN