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PDD Holdings Inc. submitted a Form 144 notice relating to the potential sale of ADSs, each representing four Class A ordinary shares. The filing lists Citigroup Global Markets as the broker and records an acquisition under the company share incentive plan on 03/01/2026.
The table in the excerpt shows a numeric entry of 560 alongside other numeric fields and a filing/date reference of 03/30/2026; trading venue is listed as NASDAQ. The excerpt provides limited transaction detail beyond these items.
PDD Holdings reported unaudited results showing that in fiscal 2025 total revenues grew 10% to RMB431,845.7 million (US$61,753.1 million), driven by higher online marketing and transaction services, but profitability declined. Operating profit fell 13% to RMB94,624.1 million (US$13,531.1 million) and net income attributable to ordinary shareholders dropped 12% to RMB99,364.5 million (US$14,208.9 million).
For fourth quarter 2025, revenues rose 12% to RMB123,912.2 million (US$17,719.2 million), while net income attributable to ordinary shareholders decreased 11% to RMB24,541.0 million (US$3,509.3 million) as costs of revenues and operating expenses grew faster than sales. Despite lower earnings and operating cash flow, cash, cash equivalents and short-term investments increased to RMB422.3 billion (US$60.4 billion) as of December 31, 2025.
PDD Holdings Inc. disclosed the initial equity holdings of Financial Director Li Jiong, consisting of two grants of restricted share units (RSUs) over American Depositary Shares (ADSs). The RSUs cover 2,130 and 6,963 underlying ADSs, each RSU settling into one ADS. One grant vests in four equal parts on October 1 of 2026, 2027, 2028 and 2029, and the other on March 1 of 2027, 2028, 2029 and 2030, in each case subject to continued service. Each ADS represents four Class A ordinary shares.
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.
PDD Holdings Inc. director Kam Anthony Ping Leung has filed an initial Form 3 reporting his equity interests in the company. The filing lists multiple awards of restricted share units (RSUs) over ADSs with a zero exercise price and separate direct holdings of 1,533 ADSs. Each RSU settles into one ADS, and each ADS represents four Class A ordinary shares. The RSUs are scheduled to vest on various dates from September 1, 2026 through March 1, 2030, in installments tied to continued service.
PDD Holdings Co-CEO Zhao Jiazhen filed an initial ownership report showing multiple option grants over the company’s ADSs. Each option gives the right to receive one ADS at an exercise price of US$0.026, and each ADS represents four Class A ordinary shares.
Some option grants are already exercisable, while others vest in stages from 2026 through 2031, with expiration dates ranging from 2036 to 2044. Zhao also directly holds a small number of ADSs in addition to these option awards.
PDD Holdings Inc. executive Xiao Junyun, SVP of Operation, reported existing derivative holdings in a Form 3. Xiao holds options that are currently exercisable for 1,881,000 ADSs, each ADS representing four Class A ordinary shares. Each option gives the right to receive one ADS at an exercise price of US$0.026 per ADS.
The footnotes state that expiration dates apply to two tranches of these options: 481,000 options expiring on October 31, 2035 and 1,400,000 options expiring on August 31, 2036. This filing records holdings only and does not show any new purchases or sales.
PDD Holdings Inc. director Ivonne MCM Rietjens has filed an initial statement of beneficial ownership showing multiple awards of restricted share units (RSUs) over American depositary shares (ADSs) and a separate direct holding of 560 ADSs as of March 18, 2026. Each ADS represents four Class A ordinary shares. The RSUs have a zero exercise price and are scheduled to vest in tranches between September 1, 2026 and March 1, 2030, with each vesting date conditional on continued service. This filing outlines her equity-based compensation position rather than any open-market buying or selling.
PDD Holdings Inc. director Yeo George Yong-Boon filed an initial ownership report showing direct holdings of 25,628 ADSs and a separate block of 60,000 ADSs, with some ADSs jointly owned with his spouse. The filing also lists multiple restricted share unit (RSU) awards, each RSU delivering one ADS at settlement, with vesting schedules running from August 1, 2026 through February 1, 2030, all subject to continued service. Each ADS represents four Class A ordinary shares, so these positions reflect both current equity ownership and future equity-based compensation.
PDD Holdings Inc. senior vice president of engineering Wang Mi filed an initial statement of beneficial ownership, detailing multiple option awards over the company’s ADSs. The holdings include options over 322,350 ADSs and several smaller grants, each option giving the right to receive one ADS at an exercise price of US$0.026.
Some options are already exercisable, while others vest in scheduled installments between 2026 and 2032, with expirations running from 2039 through 2045. Each ADS represents four Class A ordinary shares, so these awards provide long-term equity exposure tied to the company’s performance.