Temu (PDD) — the strategy behind it | Stratrix

Company profile

Industry: Services-Business Services, NEC
Listed: Nasdaq: PDD
Incorporated: Cayman Islands
Headquarters: Dublin 2
Fiscal year end: Dec 31

Financials

FY2025

Revenue: $61.8B
Net income: $14.0B
Total assets: $90.1B

Temu (PDD) — reported revenue, net income and total assets by fiscal year, from SEC filings
Fiscal year	Revenue	Net income	Total assets
FY2025	$61.8B	$14.0B	$90.1B
FY2024	$54.0B	$15.4B	$69.2B
FY2023	$34.9B	$8.45B	$49.0B
FY2022	$18.9B	$4.57B	$34.4B
FY2021	$14.7B	$1.22B	$28.4B
FY2020	$9.12B	−$1.10B	$24.4B

Reported fiscal years from SEC filings (20-F) — SEC EDGAR ↗. Stratrix is a strategy publication, not a real-time financial data service.

The analyses

The Pricing Play · Business Model

Washington Kicked Away One Crutch and Temu's U.S. Users Fell Over 50% in Two Months

Temu launched in September 2022 and was the most-downloaded U.S. shopping app within weeks. But its prices rested on three borrowed crutches - duty-free shipping, a per-order loss, and blitz ad spend. When Washington kicked one away on May 2, 2025, U.S. daily active users fell over 50% in roughly two months.