"Pinduoduo's pre-market rise by 3.7%, announced an upgraded governance structure, and implemented the co-chair system."

Pinduoduo's pre-market rise 3.7% to $109.75 in US stock market. In terms of news, Pinduoduo Group's annual shareholders' meeting announced an upgraded governance structure, implementing a co-chair system. With the approval of the board of directors, Zhao Jiazhen was appointed as co-chair, serving as co-chair and co-CEO along with Chen Lei. At the meeting, Pinduoduo also announced two executive appointments, Wang Mi as Group's Senior Vice President of Engineering, and Li Jiong as Group's Chief Financial Officer. Additionally, it was reported that Pinduoduo recently launched a service for delivering goods to villages, aiming to enhance the competitiveness of products and help businesses tap into the rural market, as well as improve the shopping experience for rural consumers. More importantly, the platform will bear the transfer fees generated by delivery to villages, and businesses only need to deliver the goods to the transfer center.