$PDD (-4%) TTN Summary of 07:30ET Earnings Call: Plans over CNY10B in fee reductions for the coming year through a comprehensive program covering all product categories, benefiting over 10 million merchants:

- Eliminated transshipment fees for orders to remote regions in Western China, driving significant order volume growth from these areas compared to last quarter. (PDD Holdings Inc.

- Experienced moderation in revenue growth and lower profits compared to last quarter due to intensified competition and investment in ecosystem development; impacts are within expectations.

- Noted consumer shift towards quality and personalization, posing new demands on the supply chain; initiatives encourage merchant innovation to meet evolving consumer preferences.