PDD Holdings Inc. (NASDAQ:PDD) says its main long-term growth initiative is a three-year effort to build what management calls "another PDD," rather than pursuing another overseas expansion or major acquisition. The plan centers on transforming supply chains, helping manufacturers develop higher-value brands and strengthening the company’s commerce ecosystem. Co-CEO Jiazhen Zhao said the company’s 100 billion RMB ($14.5 billion) support program is beginning to produce tangible improvements in supply and demand, while Co-CEO Lei Chen described supply-chain investment as the centerpiece of the strategy. PDD has established a dedicated company in the Xiong'an New Area and is creating data processing and integrated service centers to help traditional manufacturers upgrade. Management said its teams are working with suppliers in industrial clusters, setting standards for products, production processes and quality control, and helping partners develop higher-quality products with higher margins. The company remains focused on its core e-commerce business but is measuring progress increasingly through merchant, manufacturing and logistics improvements rather than short-term monetization. Chen said PDD is confident it can convert the three-year initiative into tangible, verifiable results.