According to the report from 36kr holdings, the sales of Temu, a subsidiary of PDD holdings (PDD.US), increased to about $20 billion in the first half of this year, and Temu's sales in 2023 is expected to be $18 billion. PDD holdings denied all these data.

Due to the shrinkage of the US market, it is necessary to balance with the growth of Europe. Temu hopes to achieve a market share of 50% in Europe in the future. Earlier, the vice-president of Temu held a promotion meeting in Shenzhen, and started to invite semi-managed merchants to settle in the United Kingdom, Germany, France, Italy and Spain.