PDD Holdings denies moving HQ to Ireland

Chinese online discounter PDD Holdings Inc, which owns e-commerce platforms including Pinduoduo and Temu, denied reports saying that the company has moved its headquarters from China to Ireland on Friday.

PDD Holdings said in a statement that the news was seriously inaccurate and purely misinterpreted, emphasizing the company was born in Shanghai and grew up in China and "its headquarters will always be in Shanghai, China and will not change."

The company's cross-border e-commerce platform Temu has chosen Dublin, capital of Ireland, as the legal registration place for overseas business in consideration of the need to conduct business in Europe and compliance requirements, it said.

Reuters reported on Thursday that PDD has listed Dublin as the company's "principal executive offices" in a recent US exchange filings. It had previously listed Shanghai as its main office.

Temu, firstly launched in the United States in September, has gained popularity among overseas consumers there as it offers a wide selection of merchandise, including apparel, consumer electronics, jewelry, shoes, bags, cosmetics, baby products and pet supplies at competitive prices.

Temu expanded its presence in Australia and New Zealand in March as part of its broader push to help Chinese manufacturers boost their global reach.