PDD
PDD Holdings Inc.
stockNASDAQADR

I invested in MOMO. They had like 20% dividend, but shortly after they decided to "pivot" and invest in growth and slashed dividend. Forever hit by "regulation" and share buybacks seem to crash the stock still and it is a "special dividend". So the company is cash rich, but investors are cash poor. I understand that management wants to invest in growth, but they did not deliver it in advance to investors. It seemed random mostly. And if they believe so much in the growth, why not increase the buybacks to at least 20% of market cap as valuation is so low. PDD also started to invest heavily in growth and supply chain. Honestly, as foreign investor I do not feel I get transparent view of what is happening most of the times (like in the recent BABA dilution).