PDD Holdings, the Chinese owner of bargain-shopping app Temu, reported better-than-expected profit in the second quarter while facing fierce competition in its home market and increased regulatory pressure. The company cautioned that its financial performance could fluctuate as it strengthens its e-commerce ecosystem. PDD Holdings has expanded support initiatives in recent quarters to discourage merchants from moving to rival platforms, saying those investments are needed to sustain long-term growth. Its shares were shown down 1.27%.