Pinduoduo Co-Chairman Zhao Jiazhen: Temu upgrade and rebuild, the answer is in China's supply chain.

Pinduoduo Group announced the upgrade of its corporate governance structure during its annual shareholders meeting, 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 of the group alongside Chen Lei. In addition, Pinduoduo also appointed Wang Mi as the group's senior vice president of engineering, and Li Jiong as the group's chief financial officer. Since Chen Lei took over as chairman of the company in 2021 and the co-CEO system was established in 2023, Pinduoduo has continued to improve its co-governance mechanism to better adapt to the growing business needs. "Since Zhao Jiazhen took over as co-CEO, our supply chain has become a key support for the entire platform and related ecosystem. In just three years, Temu has experienced almost ten years of growth with Pinduoduo, which is not easy. At the beginning of the new decade for the group, we must return to our original intention and not forget our roots, as this is the premise and foundation of everything, as well as the fundamental driving force for new breakthroughs," Chen Lei stated. Zhao Jiazhen mentioned that in the next stage, the company's strategy will be more focused, and after repeated discussions, China's supply chain has been identified as the core of the next phase of business development. The company will continue to pursue high-quality development, focusing on the high quality and branding of the Chinese supply chain, achieving the transformation of the platform, and driving the value transition of the ecosystem. In accepting the position of co-chair of the group, Zhao Jiazhen stated that this year marks the tenth anniversary of Pinduoduo's founding, and the company has accumulated continuously in its business, technology, and services, expanding its business to most countries worldwide. In the next stage, the company aims not to diversify its business, but instead to focus more. It will concentrate on the high-quality development of the supply chain, achieve the transformation of the platform through this core focus, and drive the value transition of the ecosystem.