SECsense Logo

PDD Holdings Inc. SC 13G Report: BlackRock Holds 9.5% Stake!

$PDD
Form
Filed on: 2024-10-21
Source
PDD Holdings Inc. SC 13G Report: BlackRock Holds 9.5% Stake!

Key Information from the SC 13G Filing for PDD Holdings Inc.

  1. Filing Overview:
  • Type of Filing: Schedule 13G
  • Filing Date: October 21, 2024
  • CUSIP Number: 722304102
  • Issuer: PDD Holdings Inc.
  • Title of Class of Securities: Common Stock
  1. Reporting Person:
  • Name: BlackRock, Inc.
  • Citizenship: Delaware
  • Address: 50 Hudson Yards, New York, NY 10001
  1. Ownership Details:
  • Total Shares Beneficially Owned: 132,044,680 shares
  • Percent of Class: 9.5%
  • Voting Power:
    • Sole Voting Power: 0
    • Shared Voting Power: 0
  • Dispositive Power:
    • Sole Dispositive Power: 132,044,680
    • Shared Dispositive Power: 0
  1. Group Status:
  • BlackRock, Inc. is identified as a member of a group for purposes of this filing.
  1. Purpose of Filing:
  • The filing is made under Rule 13d-1(b), indicating that BlackRock, Inc. is a parent holding company or control person. The securities are held in the ordinary course of business and not for the purpose of influencing control over PDD Holdings Inc.
  1. Exclusion of Certain Shares:
  • The aggregate amount beneficially owned does not exclude any certain shares.
  1. Identification of Subsidiaries:
  • The filing lists various subsidiaries of BlackRock, Inc. that may have interests in the common stock of PDD Holdings Inc.
  1. Power of Attorney:
  • A Power of Attorney is included, granting authority to several individuals to execute necessary documents related to ownership or control-person reporting requirements.

Insights:

  • BlackRock, Inc. holds a significant stake in PDD Holdings Inc. with 9.5% of the common stock, which reflects a considerable investment, positioning them as a substantial shareholder.
  • The complete lack of voting power suggests that the shares may be managed in a way that limits BlackRock's influence over corporate governance decisions at PDD Holdings Inc.
  • The filing indicates compliance with SEC regulations, as BlackRock is ensuring transparency regarding its significant ownership.
  • The filing may reflect ongoing strategies for investment management, indicating BlackRock's confidence in PDD Holdings Inc.'s future performance, or it could be part of a broader investment strategy involving multiple holdings.