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NONGFU SPRING Zhong Shanshan Slams PDD's Pricing System of Hurting CN Industry
NONGFU SPRING (09633.HK) Founder and Chairman Zhong Shanshan abruptly bombarded Pinduoduo (PDD.US) during an event in Ganzhou, Jiangxi Province. He argued that internet platforms b...
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NONGFU SPRING Zhong Shanshan Slams PDD's Pricing System of Hurting CN Industry
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NONGFU SPRING (09633.HK)  -0.650 (-1.994%)    Short selling $145.19M; Ratio 44.650%   Founder and Chairman Zhong Shanshan abruptly bombarded Pinduoduo (PDD.US)      during an event in Ganzhou, Jiangxi Province. He argued that internet platforms brought down the pricing system, and in particular a pricing system like Pinduoduo's, which did a great deal of harm to Chinese brands and Chinese industry, according to Chinese media Sina Tech.

Zhong underscored that this is not just a case of bad money driving out good money, but also a kind of industry orientation. Price is a kind of industry orientation, he said, adding that this kind of price guidance, which the government did not intervene, was dereliction of duty. Subsequently, Sina Tech removed the report on Zhong’s comments about Pinduoduo.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-11-28 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

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