04:20 AM EDT, 03/21/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

PDD Holdings ( PDD ) reported in line Q4 2024 EPADS of CNY18.52 (+17% Y/Y). Revenue growth moderated to 24% Y/Y from 44% Y/Y in Q3, likely driven by slower overseas expansion. Net margin declined 1.4%-pts Y/Y and 0.3%-pts Q/Q due to merchant fee reductions and logistics improvement costs, in our view, despite controlled SG&A expenses. We expect PDD's merchant development program (focusing on enhancing merchant efficiency and innovation, investing in agriculture technology, and strengthening supply chains to improve access to remote regions of China) to further pressure its margins in 2025. We think the potential U.S. de minimis exemption repeal for Chinese goods poses a significant risk to PDD's overseas business, as it may require U.S. warehouse investments, although enforcement has been temporarily paused due to port congestion.