Recently, media reports have reported that Pinduoduo's community group buying business, Duoduo Maicai, will launch a local life to store investment campaign in mid December 2023, with plans to launch nationwide after the Spring Festival in February 2024. But in the last week of 2023, some investment personnel in certain regions received instructions to suspend local in store business projects.
Regarding this, Pinduoduo staff told China Securities Journal and China Securities Taurus reporters that only the local living business under Duoduo Maicai has been closed, and the Duoduo Maicai project is operating normally.