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PDD via Pinduoduo is a Chinese marketplace that directly connects producers with retail customers and has achieved significant growth and profitability in a short time frame.
PDD launched Temu in 2022 to connect Chinese manufacturers to international consumers.
While China stocks are fraught with risk, PDD's valuation at 0.5x PEG is hard to ignore, especially in light of stellar growth and execution.
A consensus price target of US$181 provides for 29% upside at 0.7x PEG on 40% EPS growth for 2024.