PHOENIX SNOWBALL WORST-OF - PDD HLDGADS/OATLY GROUP ADRS/BEYOND MEAT Stock

PDD Holdings Inc. (formerly Pinduoduo Inc.) specializes in the operation of a mobile e-commerce platform in China. The group offers mainly apparel, footwear, accessories, childcare products, fresh agricultural products, foods, consumer electronics, furniture, household goods, cosmetics, personal care items, sports and fitness items and automotive accessories. Net sales break down by type of revenue as follows: - revenues from online marketing services (78.7%); - revenues from transaction fees (21.1%); - revenues from merchandise sales (0.2%). At the end of 2022, the group had 13 million active merchants.