Shares of Temu parent PDD Holdings plunged nearly 30% after disappointing second-quarter results, marking their largest one-day loss since listing on the Nasdaq. The company fell short of Wall Street expectations despite a strong annual revenue increase of 86%. Shaun Rein of the China Market Research Group commented that the "panic was overblown" and was a good investment opportunity. The broader Chinese e-commerce sector faces challenges, with weak consumer growth and stiff competition.