PDD Holdings Director Files Form 144 for Proposed ADS Sale

Executive Summary

On September 3, 2026, Kam Anthony Ping Leung, a Director of PDD Holdings Inc. ($PDD), filed a Form 144 notice of proposed sale for 1,705 ADSs (representing four Class A ordinary shares each) with an estimated market value of $140,236.25 through Citigroup Global Markets.

Key Transaction Details

• Filer: Kam Anthony Ping Leung
• Role: Director
• Securities: American Depositary Shares (ADSs)
• Number of ADSs to be Sold: 1,705
• Aggregate Market Value: $140,236.25 (based on closing price of $82.25 on September 2, 2026)
• Acquisition Origin: Acquired on September 1, 2026, under the company's share incentive plan.
• Approximate Date of Sale: September 3, 2026

Market & Trading Significance

The trading significance is assessed as Low due to the modest dollar size ($140,236.25) and small volume (1,705 ADSs), which represents a negligible fraction of PDD Holdings' total outstanding share count. The sale appears to be a routine post-vesting monetization of incentive awards.