The founder is the richest chinese
Temu mother group reports astronomical increase in sales
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Temu now floods sales markets worldwide, although the products are often poor in terms of quality and the climate silence is devastating. The EU wants to get the company with new rules. The parent company of the cheap provider meanwhile screwed up sales and win massively.
The Chinese parent company of the cheap shopping platform TEMU recorded an increase in profits by 144 percent in the second quarter. The PDD Holding based in Shanghai reported a net quarterly win of 32 billion Yuan (around four billion euros). The group was able to increase sales by 86 percent to 97 billion yuan (around 12 billion euros) compared to the same period last year.
PDD includes the mail order company Pinduoduo, who is extremely successful in China. Temu is active counterpart outside of China. The platform attracts with extreme bargains, but is always criticized because of poor quality, not preserved programs and, last but not least, the catastrophic climate and environmental balance of its products.
The European Union has already been caused by reactions. Since no customs fees have been due for imports to the EU with a value of less than 150 euros, providers such as Temu benefit enormously. According to estimates, two billion of such packages from third countries came to the European Union last year. In order to contain this flood, the EU Commission wants to stimulate this month to abolish the current threshold of 150 euros, the “Financial Times” (FT) reported in early July.
Criticism of EU projects also from Europe
In addition to Temu, Aliexpress and the clothing dealer Shein are aimed at. The digital giants criticize the procedure. But the Ecommerce Europe Association, which includes Amazon and Ebay, is also skeptical about the deletion. The companies fear retaliation measures by EU trading partners. An EU official also warned against the FT that it could be difficult to persuade the EU countries to consent, since the new regulation increases the workload of the already overloaded customs officials. In an interview with ntv.de warned Trading expert Jörg Funder also of too high expectations should the customs limit. “It is illusory that consumers no longer buy more customs fees due to a few cents, “he said in mid -July.
The founder of PDD, Colin Huang, a former Google employee in China, is now the richest man in the country. According to the ranking of the financial news agency Bloomberg, the 44-year-old has a fortune of $ 48.6 billion ($ 44.5 billion). In the worldwide comparison of the greatest assets, he is therefore in 25th place.
