$PDD PDD Holdings Q2 2025 Earnings Conference Call

This is a PDD Holdings Inc. second quarter 2025 earnings conference call, which includes prepared remarks from Chen Lei, Zhao Jiazhen, and Liu Jun, followed by a question and answer session with analysts. The speakers discuss the company's performance, strategic focus, and financial results, highlighting the impact of the "100 Billion Support Program" aimed at supporting merchants and improving the platform ecosystem. They address questions about competition, global business strategies, the effects of the support program, and consumer demand, emphasizing a commitment to long-term value creation over short-term financial results and ongoing investments in supply chain capabilities, service, and compliance.