en.Wedoany.com Report, On March 25, Pinduoduo Group released its financial report for the fourth quarter and full year of 2025, ended December 31. During the earnings conference call, Pinduoduo disclosed that the three-year strategy established at the previous shareholders' meeting is steadily progressing and yielding results.

On December 19, 2025, at the Pinduoduo Group shareholders' meeting, Zhao Jiazhen was announced as Co-Chairman and Co-CEO. Zhao Jiazhen unveiled the group's next-phase strategy of "Focusing and Heavily Investing in Supply Chain Upgrade for High-Quality Development," proposing the goal of "striving to rebuild another Pinduoduo within three years." Now, the first major strategic initiative is beginning to take shape: Pinduoduo Group officially announced the establishment of "New Pinmu," launching branded self-operated businesses, continuing to heavily invest in the Chinese supply chain, and driving the high-quality, branded development of Chinese industries.

According to the introduction, "New Pinmu" has already established a new dedicated company in Shanghai. The first phase has received a cash injection of 15 billion yuan, with plans to invest a total of 100 billion yuan in real funds over the next three years. It aims to integrate the supply chain resources of "Pinduoduo + Temu," initiate the construction of a self-operated brand model, focus on the global market, systematically self-operate and incubate brands targeting different markets and categories, achieve high-standard output of Chinese manufacturing, and propel Chinese manufacturing further towards the high end of the value chain.

"Over the past three years, Temu's rapid growth was a crucial leap driven by the dividends of China's supply chain industry, and it also brought new opportunities for the upgrade and transformation of China's supply chain," said Zhao Jiazhen. He stated that 2026 marks a critical window period for the transformation and upgrading of China's supply chain. The group will mobilize all its forces, aligning efforts across the company, striving to promote the high-quality transformation of domestic self-operated brands through "New Pinmu" within three years, driving the transformation, upgrading, and value leap of China's supply chain.

Establishing "New Pinmu," Investing 100 Billion to Heavily Back the Supply Chain

In December 2025, Pinduoduo Group announced an upgrade to its corporate governance structure at its annual shareholders' meeting, implementing a co-chairman system. Approved by the board, Zhao Jiazhen was appointed as Co-Chairman, serving jointly with Chen Lei as Group Co-Chairmen and Co-CEOs. The company believes that Zhao Jiazhen's appointment as Co-Chairman is conducive to Pinduoduo Group entering the next phase of upgrade and transformation, facilitating the implementation of the group's overall strategy of "Focusing and Heavily Investing in Supply Chain Upgrade for High-Quality Development."

After assuming the role of Co-Chairman, Zhao Jiazhen stated that Pinduoduo has been in business for over a decade, continuously accumulating experience in operations, technology, and services, with its business reaching most countries globally. In the next phase, the company's focus is not on diversification but on greater concentration—concentrating on the high-quality development of the supply chain. Through this core focus, the company aims to achieve platform reconstruction and drive a value leap in the ecosystem.

At the shareholders' meeting, Pinduoduo's management also provided the latest introduction on Temu's development. It is understood that Temu has grown rapidly over the past three years and has become a mainstream international e-commerce platform.

"Over the past three years, Temu, rooted in China's supply chain, has expanded its business to over 90 countries and regions worldwide, covering in three years the path that Pinduoduo's domestic e-commerce took ten years to traverse," Zhao Jiazhen said. In the next phase, based on Temu's platform operations, the company will undertake a major strategic expansion by establishing "New Pinmu," fully launching a branded self-operated model. Through this self-operated model, the company will continue to heavily invest in China's supply chain, establish higher manufacturing standards, incubate a group of internationally influential brands, and drive Chinese manufacturing towards a high-quality, branded path. Currently, "New Pinmu" has been established in Shanghai, with an initial cash injection of 15 billion yuan.

It is reported that Pinduoduo's "New Pinmu" will focus on three major measures to comprehensively promote the high-quality, branded globalization of industrial belt merchants:

First, establish a dedicated "New Pinmu" company, investing 100 billion yuan over the next three years to comprehensively cover China's industrial belts, launch customized manufacturing solutions, and cultivate a batch of self-operated brands with different positioning and various categories;

Second, form specialized teams to deeply engage with industrial belts, leveraging the platform's digital advantages to provide merchants with integrated solutions for products, technology, and marketing, promoting the improvement of manufacturing standards in industrial belts and completing industrial transformation and upgrading;

Third, launch a comprehensive brand globalization solution, providing all-around services including product standards, warehousing logistics, intellectual property services, legal assistance, regulatory review, etc., to safeguard the globalization of industrial belts.

Significant Effectiveness of Preliminary Strategy, Industrial Belts Accelerating Towards Branding

In fact, as early as April 2025, Pinduoduo first launched a "trillion-yuan level" merchant-benefit strategy, fully building a high-quality ecosystem for win-win outcomes among merchants, users, and the platform, laying the foundation for the launch of this "New Pinmu." In the industrial belts, Pinduoduo's "trillion-yuan support" continues to intensify the focus on "new quality supply," accelerating the cultivation and upward movement speed of "new quality supply," promoting industrial belts to move towards branding and high-quality development.

To date, the "new quality supply" specialized teams have successively visited over a hundred high-quality manufacturing clusters, including Yiwu cosmetics, Shenzhen digital products, Shandong snacks, Shaodong bags and luggage, Pinghu down products, and Weihai fishing gear. They have deeply engaged with every link of the supply chain, including raw materials and components, promoting "progressive innovation" at each supply chain link, actively solving the industry challenge of homogeneous competition, and helping industries complete brand transformation.

In Shaodong, Hunan, the local area produces over 70% of the student backpacks in the country. However, the long-standing model primarily focused on OEM once left the local industry facing the dilemma of "homogeneous competition." With Pinduoduo's support, local merchants leveraged the platform's data analysis for precise product R&D, successively giving rise to multiple hit brands, driving Shaodong's industrial transformation from an "OEM hub" to a "brand highland."

In the industry, Pinduoduo's series of merchant-benefit initiatives have also attracted widespread attention. Hong Yong, Associate Researcher at the Chinese Academy of International Trade and Economic Cooperation (CAITEC) under the Ministry of Commerce, stated that by creating brand advantages, products are expected to achieve differentiation and premium pricing capability, shifting from price competition to value competition, leading industrial belts out of homogeneous competition and achieving branded development.

"Judging from the industrial practice of the earlier 'trillion-yuan support,' branded development has become a new engine for China's industrial development. In the next three years, we will continue to heavily invest in China's supply chain through the 'New Pinmu' self-operated model, injecting another 100 billion yuan in real cash. More self-operated brands from China's industrial belts will go global through 'New Pinmu,' driving the overall transformation, upgrading, and value leap of China's supply chain," Zhao Jiazhen stated.