Tech giant PDD Holdings, the Chinese company that owns online shopping sites Temu and Pinduoduo, has allegedly denied recent reports of its decision to move its headquarters from China to Ireland.
It was reported by various media outlets that the company listed the Irish capital of Dublin as its “principal executive offices” in a recent filing with the Securities and Exchange Commission. In the past, Shanghai was listed as its main office.
The move was perceived as the firm’s attempt to boost its international presence.
The spokesperson for Pinduoduo allegedly called the reports inaccurate and highlighted the company’s Chinese roots.
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“The reports (on moving headquarters from China to Ireland) are seriously inaccurate and purely misinterpreted,” a Pinduoduo spokesperson told Chinese media.
“Pinduoduo was born in Shanghai and grew up in China,” the spokesperson said, “so the headquarters has always been in Shanghai, China, and it will not change.”
According to the spokesperson, the Dublin office would serve as PDD Holdings’ legal registration for its overseas business Temu.
Temu has recently started selling to the UK, now expanding to Europe in a move that Jeb Smith, founder of Parker-Marker, a business and technology consultancy, says “will establish it as a major player in the UK market”.
Temu’s app has been installed more than 50 million times since its launch in September 2022, becoming number one app in the US and beating Shein, which operated for about three years before crossing this mark.
