The Chinese owner of bargain app Temu reported slower quarterly profit and revenue growth, capping a turbulent year for the e-commerce giant as it faced stiff competition at home, geopolitical tensions abroad and U.

PDD Holdings fell as the Temu parent company's growth rate slowed further from triple-digit levels at the start of last year.

PDD Holdings Inc.’s revenue grew at a slower-than-expected pace of 24% after intensifying domestic competition and US tariffs crimped its expansion.