PDD Holdings director discloses initial share stake

PDD Holdings Inc. director Lin Haifeng filed an initial ownership report on a Form 3.

Rhea-AI Filing Summary

PDD Holdings Inc. director Lin Haifeng filed an initial ownership report on a Form 3. The filing shows direct holdings of 17,850 American depositary shares (ADSs) and 19,132 Class A ordinary shares of PDD Holdings. Each ADS represents four Class A ordinary shares, so the ADS position corresponds to a substantially larger underlying ordinary share interest in the company.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Lin Haifeng

Role Director

Type	Security	Shares	Price	Value
holding	ADSs	--	--	--
holding	Class A ordinary shares	--	--	--

Holdings After Transaction: ADSs — 17,850 shares (Direct); Class A ordinary shares — 19,132 shares (Direct)

Footnotes (1)

1. F1. Each American depositary share ("ADS") of the Issuer represents four (4) Class A ordinary shares.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does PDD (PDD) director Lin Haifeng report on this Form 3?

Director Lin Haifeng reports initial ownership of 17,850 ADSs and 19,132 Class A ordinary shares of PDD Holdings Inc. This establishes his disclosed equity stake in the company as of the Form 3 filing date, without indicating any recent purchases or sales.

How many PDD Holdings ADSs does Lin Haifeng directly own?

Lin Haifeng directly owns 17,850 American depositary shares (ADSs) of PDD Holdings. These ADSs provide economic exposure to the company’s Class A ordinary shares and are a common way for investors to hold interests in non-U.S. issuers listed on U.S. exchanges.

How many PDD Holdings Class A ordinary shares does Lin Haifeng hold?

The Form 3 shows Lin Haifeng directly holding 19,132 Class A ordinary shares of PDD Holdings. These shares are in addition to his ADS holdings and represent direct ownership in the company’s primary equity security class reported in this filing.

What is the conversion ratio between PDD ADSs and Class A ordinary shares?

Each PDD Holdings American depositary share (ADS) represents four Class A ordinary shares. This means one ADS is backed by four underlying ordinary shares, so the 17,850 ADS position reflects a much larger number of ordinary shares economically.

Does this PDD Form 3 show any insider buying or selling activity?

No specific buying or selling activity is identified; the entries are labeled as holdings only. The Form 3 primarily discloses Lin Haifeng’s existing positions in ADSs and Class A ordinary shares, rather than reporting new transactions or changes in his stake.

Why is Lin Haifeng’s Form 3 important for PDD investors?

The Form 3 gives investors transparency into a director’s initial equity stake in PDD Holdings. Knowing he holds 17,850 ADSs and 19,132 Class A shares helps investors understand the scale of his direct financial alignment with other shareholders at the time of reporting.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/18/2026 - 09:07 PM EDT Learn about SEC filing dates

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
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1. Name and Address of Reporting Person^*

Lin Haifeng

(Last) (First) (Middle)

FIRST FLOOR, 25 ST STEPHEN'S GREEN

(Street)

DUBLIN 2 D02 XF99

(City) (State) (Zip)

IRELAND

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
PDD Holdings Inc. [ PDD ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
ADSs(1)	17,850	D
Class A ordinary shares	19,132	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Each American depositary share ("ADS") of the Issuer represents four (4) Class A ordinary shares.

	/s/ Haifeng Lin	03/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)