BlackRock's Strategic Stake in PDD Holdings Inc: Schedule 13G Insights

Here are the key insights extracted from the Schedule 13G filing for PDD Holdings Inc. by BlackRock, Inc.:

1. Filing Overview:

• Issuer Name: PDD HOLDINGS INC
• Type of Filing: Schedule 13G under the Securities Exchange Act of 1934.
• CUSIP Number: 722304102
• Filing Date: October 22, 2024
• Event Date: September 30, 2024

2. Reporting Person:

• Name: BlackRock, Inc.
• Address: 50 Hudson Yards, New York, NY 10001
• Citizenship: Delaware, USA

3. Ownership Details:

• Sole Voting Power: 0 shares
• Shared Voting Power: 0 shares
• Sole Dispositive Power: 33,011,170 shares
• Shared Dispositive Power: 0 shares
• Aggregate Beneficial Ownership: 33,011,170 shares
• Percentage of Class: 2.4% of the total outstanding shares of common stock.

4. Nature of Filing:

• BlackRock, Inc. is classified as a parent holding company or control person and is not acting as a broker, dealer, or investment adviser in this context.
• The filing complies with Rule 13d-1(b).

5. Additional Information:

• No other persons have rights to receive dividends or proceeds from sales of the securities exceeding 5%.
• The filing indicates that the securities were acquired in the ordinary course of business and not for the purpose of influencing control over PDD Holdings Inc.

6. Subsidiaries Listed:

• The filing includes a list of subsidiaries of BlackRock, Inc. which may have an interest in the securities.

7. Power of Attorney:

• The document includes a Power of Attorney, granting specific individuals authority to execute necessary documents on behalf of BlackRock, Inc. for compliance with regulatory requirements.

This filing indicates BlackRock's substantial yet non-controlling stake in PDD Holdings Inc., reflecting its position as an investment management firm rather than a controlling entity. The ownership percentage suggests a passive investment strategy.