<SEC-DOCUMENT>0001104659-25-113965.txt : 20251119
<SEC-HEADER>0001104659-25-113965.hdr.sgml : 20251119
<ACCEPTANCE-DATETIME>20251119082259
ACCESSION NUMBER:		0001104659-25-113965
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20251119
FILED AS OF DATE:		20251119
DATE AS OF CHANGE:		20251119

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PDD Holdings Inc.
		CENTRAL INDEX KEY:			0001737806
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-BUSINESS SERVICES, NEC [7389]
		ORGANIZATION NAME:           	07 Trade & Services
		EIN:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38591
		FILM NUMBER:		251496681

	BUSINESS ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		FIRST FLOOR, 25 ST STEPHEN'S GREEN
		CITY:			DUBLIN 2
		PROVINCE COUNTRY:   	L2
		BUSINESS PHONE:		353 1 5397938

	MAIL ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		FIRST FLOOR, 25 ST STEPHEN'S GREEN
		CITY:			DUBLIN 2
		PROVINCE COUNTRY:   	L2

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Pinduoduo Inc.
		DATE OF NAME CHANGE:	20180709

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Walnut Street Group Holding Ltd
		DATE OF NAME CHANGE:	20180628

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Pinduoduo Inc.
		DATE OF NAME CHANGE:	20180628
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>tm2531576d1_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PURSUANT TO RULE 13a-16 OR 15d-16 UNDER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">For the month of November&nbsp;2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Commission File Number: 001-38591</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PDD Holdings Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">First Floor, 25 St Stephen&rsquo;s Green,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Dublin 2, D02 XF99</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Ireland<BR>
(Address of principal executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant files or will file annual
reports under cover of Form&nbsp;20-F or Form&nbsp;40-F.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Form&nbsp;20-F&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#120;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  Form&nbsp;40-F&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Exhibit&nbsp;Index</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A HREF="tm2531576d1_ex99-1.htm" STYLE="-sec-extract: exhibit">Exhibit&nbsp;99.1 &ndash; Notice of Annual General Meeting</A></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A HREF="tm2531576d1_ex99-2.htm" STYLE="-sec-extract: exhibit">Exhibit&nbsp;99.2 &ndash; Proxy Statement for Annual General Meeting</A></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A HREF="tm2531576d1_ex99-3.htm" STYLE="-sec-extract: exhibit">Exhibit&nbsp;99.3 &ndash; Form&nbsp;of Proxy for Annual General Meeting</A></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
<TD COLSPAN="3"><B>PDD HOLDINGS INC.</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
<TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif">By</FONT></TD>
<TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">:</FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid; width: 44%">/s/ Lei Chen</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Name</FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif">:</FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Lei Chen</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Title</FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif">:</FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Chairman of the Board of Directors and Co-Chief Executive Officer</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: November&nbsp;19, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tm2531576d1_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PDD Holdings Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Incorporated in the Cayman Islands with limited
liability)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(NASDAQ Ticker: PDD)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTICE OF ANNUAL GENERAL MEETING</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>NOTICE IS HEREBY GIVEN</B> that an annual general
meeting (the &ldquo;<B>2025 Annual Meeting</B>&rdquo;) of PDD Holdings Inc. (the &ldquo;<B>Company</B>&rdquo;) will be held at 7:00 a.m.,&nbsp;Irish
Standard Time, on December&nbsp;19, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To provide a consistent experience to all shareholders
regardless of location, the 2025 Annual Meeting will be held in virtual format through live webcast and teleconference. Holders of the
Company&rsquo;s ordinary shares as of the close of business on November&nbsp;19, 2025,&nbsp;Irish Standard Time, the record date, are
cordially invited to attend the 2025 Annual Meeting. We are sending a Notice of Access to the 2025 Annual Meeting to our shareholders.
Please follow the procedure set out in the notice for admission to the 2025 Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under the deposit agreement, holders of the Company&rsquo;s
American depository shares (&ldquo;<B>ADSs</B>&rdquo;) may not attend or vote at the 2025 Annual Meeting. Instead, holders of ADSs as
of November&nbsp;19, 2025 will need to instruct Deutsche Bank Trust Company Americas, the depository, as to how to vote the Company&rsquo;s
ordinary shares represented by the ADSs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Your vote is very important. Whether or not
you plan to participate in the 2025 Annual Meeting, we encourage you to submit your proxy or voting instructions as soon as possible.
For specific instructions on how to vote your shares, please refer to the accompanying proxy statement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>Items of business</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The 2025 Annual Meeting will be held for the purposes
of considering and, if thought fit, passing the following resolutions as ordinary resolutions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>ORDINARY RESOLUTIONS</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">1.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Re-election
of Mr.&#8239;Lei Chen as a director of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">2.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Re-election
of Mr.&#8239;Jiazhen Zhao as a director of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">3.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Re-election
of Mr.&#8239;Anthony Kam Ping Leung as a director of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">4.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Re-election
of Mr.&#8239;Haifeng Lin as a director of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">5.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Re-election
of Dr.&#8239;Ivonne M.C.M. Rietjens as a director of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">6.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Re-election
of Mr.&#8239;George Yong-Boon Yeo as a director of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The 2025 Annual Meeting will also transact any
other business properly brought before the meeting. Further details of the proposed resolutions are set out in the accompanying proxy
statement which is incorporated into this notice by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>Result of the 2025 annual
meeting</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We expect to announce the result of the 2025 Annual
Meeting in a current report on Form&#8239;6-K to be filed with the SEC within two business days after the 2025 Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-transform: uppercase"><B>Annual Report and proxy
materials are available on the internet</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are furnishing proxy materials to our shareholders
primarily via the Internet instead of mailing printed copies of those materials to each shareholder. By doing so, we save costs and reduce
the environmental impact of our 2025 Annual Meeting. The proxy materials and the Company&rsquo;s annual report on Form&#8239;20-F for
the year ended December&#8239;31, 2024 are available free of charge on the investor relations section of our website at <U>https://investor.pddholdings.com/</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 50%">&#8239;</TD>
    <TD STYLE="width: 50%; font: 10pt Times New Roman, Times, Serif">By Order of the Board of Directors,</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&#8239;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif">PDD Holdings Inc.</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&#8239;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&#8239;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&#8239;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">/s/ Lei Chen</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&#8239;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Lei Chen</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&#8239;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Chairman of the Board of Directors</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Dublin</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">November&#8239;19, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&#8239;</P>

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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>tm2531576d1_ex99-2.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.2</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PDD Holdings Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Incorporated in the Cayman Islands with limited
liability)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(NASDAQ Ticker: PDD)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Proxy Statement for Annual General Meeting (or
any adjournment or postponement thereof)<BR>
held via live webcast and teleconference at 7:00 a.m.,&nbsp;Irish Standard Time, on December&nbsp;19, 2025.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>Introduction</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">This
proxy statement is furnished in connection with the solicitation by the board of directors (the &ldquo;<B>Board</B>&rdquo;) of PDD Holdings
Inc. (the &ldquo;<B>Company</B>&rdquo;) of proxies for the annual general meeting of the Company (the &ldquo;<B>2025 Annual Meeting</B>&rdquo;)
to be held via live webcast and teleconference at 7:00 a.m.,&nbsp;Irish Standard Time, on December&nbsp;19, 2025, and at any adjournment(s)&nbsp;or
postponement(s)&nbsp;thereof, for the purposes set forth in the accompanying Notice of Annual General Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
Board of Directors has fixed November&nbsp;19, 2025 as the record date (the &ldquo;<B>Record Date</B>&rdquo;) for determining shareholders
entitled to receive notice of, and to vote at, the 2025 Annual Meeting. Only holders of record of the ordinary shares of the Company (the
 &ldquo;<B>Ordinary Shares</B>&rdquo;) at the close of business on the Record Date are entitled to receive notice of and to vote in respect
of the matters requiring shareholders&rsquo; vote at the 2025 Annual Meeting. Holders of American Depository Shares (the &ldquo;<B>ADSs</B>&rdquo;)
issued by Deutsche Bank Trust Company Americas, as depository (the &ldquo;<B>Depository</B>&rdquo;), and representing our Class&nbsp;A
ordinary shares are not entitled to attend or vote at the 2025 Annual Meeting. Instead, holders of ADSs as of the Record Date will need
to instruct the Depository as to how to vote the Company&rsquo;s Class&nbsp;A ordinary shares represented by the ADSs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">This
proxy statement and the accompanying Notice of Annual General Meeting are first being sent to holders of Ordinary Shares on or about
November&nbsp;19, 2025. Holders of Ordinary Shares will receive an instruction on access to the 2025 Annual Meeting together with this
proxy statement. You can review and download this proxy statement and other proxy materials on the investor relations section of our
website at <U>https://investor.pddholdings.com/</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>Quorum</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
quorum of the 2025 Annual Meeting is one or more holders of Ordinary Shares which carry in aggregate (or representing by proxy) not less
than a majority of all votes attaching to all Ordinary Shares in issue and entitled to <FONT STYLE="background-color: white">vote</FONT>
at the meeting, present in person or by proxy or, if a corporation or other non-natural person, by its duly authorized representative.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>Voting by Holders of Ordinary Shares</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Holders
of record of the Ordinary Shares shall vote by proxy forms. When proxy forms are properly dated, executed and returned by holders of Ordinary
Shares to the e-mail address set forth in the proxy form no later than 48 hours before the time appointed for the holding of the 2025
Annual Meeting, the Ordinary Shares they represent will be voted by the proxy holder at the meeting, or at any adjournment or postponement
thereof, in accordance with the instructions of the shareholder. If no specific instructions are given in such proxy forms, the proxy
holder will vote in favor of the items set forth in the proxy form. The proxy holder will also vote in the discretion of such proxy holder
on any other matters that may properly come before the meeting, or at any adjournment or postponement thereof. Where any holder of Ordinary
Shares <FONT STYLE="background-color: white">affirmatively</FONT> abstains from voting on any particular resolution, the votes attaching
to such Ordinary Shares will not be included or counted in the determination of the number of Ordinary Shares present and voting for the
purposes of determining whether such resolution has been passed (but they will be counted for the purposes of determining the quorum,
as described above).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>Voting by Holders of ADSs</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">As
the holder of record for all the Ordinary Shares represented by the ADSs, only the Depository may vote those Ordinary Shares at the 2025
Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">We
have requested the Depository to distribute to holders and beneficial owners of ADSs at the close of business on the Record Date an ADS
Voting Card. Upon the timely receipt from any holders of record of ADSs of voting instructions in the manner specified, the Depository
will endeavor, to the extent practicable and legally permissible, to <FONT STYLE="background-color: white">vote</FONT> or cause to be
voted the number of Ordinary Shares represented by the ADSs in accordance with such voting instructions. Under the terms of the deposit
agreement for the ADSs (the &ldquo;<B>Deposit Agreement</B>&rdquo;), the Depository will not vote or attempt to exercise the right to
vote other than in accordance with such voting instructions or such deemed instructions as further described in the paragraphs below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">There
is no guarantee that a holder of ADSs will receive the materials described above with sufficient time to enable such holder to return
voting instructions to the Depository in a timely manner, in which case the Ordinary Shares underlying the holder&rsquo;s ADSs may not
be voted in accordance with such holder&rsquo;s wishes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">If
(i)&nbsp;the Depositary timely receives voting instructions from a holder of ADSs but such instructions fail to specify the manner in
which the Depositary is to vote the Ordinary Shares represented by such holder&rsquo;s ADSs, or (ii)&nbsp;no timely instructions are received
by the Depository from a holder of ADSs by 10:00 a.m.&nbsp;December&nbsp;15, 2025 (U.S. Eastern Time), the Depository will deem such holder
of ADSs to have instructed it to give a discretionary proxy to a person designated by the Company to vote the Ordinary Shares represented
by such holder&rsquo;s ADSs, unless the Company has informed the Depository that (a)&nbsp;the Company does not wish such proxy to be given,
(b)&nbsp;substantial opposition exists, or (c)&nbsp;the rights of holders of Ordinary Shares may be materially adversely affected, in
each case in accordance with the terms of the Deposit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>Revocability of Proxies and ADS Voting
Cards</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><FONT STYLE="background-color: white">Any</FONT>
proxy given by a holder of Ordinary Shares by means of a proxy form, and any voting instructions given by an ADS holder by means of an
ADS Voting Card, may be revoked: (a)&nbsp;for holders of ADSs, by submitting a written notice of revocation or a fresh ADS Voting Card,
as the case may be, bearing a later date, which must be received by the Depositary, no later than 10:00 a.m.&nbsp;December&nbsp;15, 2025
(U.S. Eastern Time) or (b)&nbsp;for holders of Ordinary Shares, by submitting a written notice of revocation or a fresh proxy form, as
the case may be, bearing a later date, which must be received by the Company no later than 48 hours before the time appointed for the
holding of the 2025 Annual Meeting or at any adjournment or postponement thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>ProposalS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ELECTION OF DIRECTORS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
Board has nominated directors Lei Chen, Jiazhen Zhao, Anthony Kam Ping Leung, Haifeng Lin,&nbsp;Ivonne M.C.M. Rietjens and George Yong-Boon
Yeo to be elected to serve until the next annual meeting of shareholders and until their successors are duly elected and qualified.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Biographic
information of the directors standing for election is set forth below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white; color: #212529"><FONT STYLE="background-color: white"><I>Lei
Chen&nbsp;</I>is a founding member of our company and has served as our chairman of the board of directors since March&nbsp;2021 and co-chief
executive officer since April&nbsp;2023. Mr.&nbsp;Chen has also served as our director since July&nbsp;2020. Mr.&nbsp;Chen served as our
chief executive officer from July&nbsp;2020 to April&nbsp;2023, as our chief technology officer from 2016 to 2020 and as our director
from February&nbsp;2017 to July&nbsp;2018. Prior to joining our company, Mr.&nbsp;Chen served as chief technology officer of Xinyoudi
Studio since 2011. Mr.&nbsp;Chen&rsquo;s prior working experience includes internships with Google (Nasdaq: GOOG), Yahoo Inc. and IBM
(NYSE: IBM) in the United States. Mr.&nbsp;Chen was trained as a data scientist and is a prolific publisher on the subject of data mining,
and has presented his works in large international conferences, such as the ACM SIGMOD Conference, Very Large Data Bases (VLDB) Conferences
and International Conference on Machine Learning. Mr.&nbsp;Chen received his bachelor&rsquo;s degree in computer science from Tsinghua
University and his doctoral degree in computer science from University of Wisconsin-Madison.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white; color: #212529"><FONT STYLE="background-color: white"><I>Jiazhen
Zhao</I>&nbsp;is a founding member of our company and has served as our director and co-chief executive officer since April&nbsp;2023.
Mr.&nbsp;Jiazhen Zhao served as a senior vice president from 2018 to 2023. Mr.&nbsp;Zhao has held several leadership roles across our
company. He started our Duo Duo Grocery business and led the operations of a few key product categories in the Pinduoduo platform, including
agriculture. He also led our supply chain efforts. Mr.&nbsp;Zhao received his bachelor&rsquo;s degree in e-commerce management from South
China University of Technology.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white; color: #212529"><FONT STYLE="background-color: white"><I>Anthony
Kam Ping Leung</I>&nbsp;has served as our independent director and chairman of the audit committee since August&nbsp;2019. Mr.&nbsp;Kam
is also chairman of our compensation committee. Mr.&nbsp;Kam has more than 30 years of experience in the financial services industry in
Asia. He is a Chartered Financial Analyst and a chartered accountant in Singapore. Mr.&nbsp;Kam also serves as an independent director
of OCBC Bank Ltd. in China since September&nbsp;2021. Mr.&nbsp;Kam served as the deputy chief executive officer and the executive director
of HSBC Bank (China) Company Limited (&ldquo;HSBC China&rdquo;) from February&nbsp;2016 to April&nbsp;2018 and served as the chief financial
officer of HSBC China from May&nbsp;2013 to February&nbsp;2016. Prior to that, Mr.&nbsp;Kam served as the chief financial officer of HSBC
Bank (Singapore) Limited (&ldquo;HSBC Singapore&rdquo;) from September&nbsp;2005 to May&nbsp;2013. In addition to financial accounting
and control, management accounting and tax responsibilities, Mr.&nbsp;Kam had direct oversight on specific risk management functions such
as treasury product control and asset&nbsp;&amp; liabilities management. Mr.&nbsp;Kam was also a member of the asset and liabilities management
meeting and a member of the risk management meeting under the executive committee of HSBC Singapore and HSBC China. Mr.&nbsp;Kam received
bachelor of science from University of Hong Kong and his master degree in applied finance from Macquarie University.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white; color: #212529"><FONT STYLE="background-color: white"><I>Haifeng
Lin</I>&nbsp;has served as our director since June&nbsp;2017. Mr.&nbsp;Lin is currently the head of Tencent Financial Technology and a
corporate vice president of Tencent Holdings Limited (HKEx: 00700). Prior to that, he served as general manager of the merger and acquisitions
department of Tencent Technology (Shenzhen) Company Limited, an affiliate of Tencent Holdings Limited. From July&nbsp;2003 to November&nbsp;2010,
Mr.&nbsp;Lin served in different roles in finance, strategy and business operation at Microsoft. Prior to that, Mr.&nbsp;Lin worked at
Nokia China from 1999 to 2001. Mr.&nbsp;Lin also serves as a non-executive director of Linklogis Inc. (HKEx: 09959) since October&nbsp;2019.
Mr.&nbsp;Lin received his bachelor&rsquo;s degree in engineering from Zhejiang University in June&nbsp;1997 and his master&rsquo;s degree
in business administration from the Wharton School of the University of Pennsylvania in May&nbsp;2003.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white; color: #212529"><FONT STYLE="background-color: white"><I>Ivonne
M.C.M. Rietjens&nbsp;</I>has served as our independent director since August&nbsp;2023. Dr.&nbsp;Rietjens is also a member of our audit
committee and nominating and corporate governance committee. Dr.&nbsp;Rietjens has more than 25 years of experience in food safety. She
has been a full professor at Wageningen University since 2001 and is currently head of the division of toxicology. She is an elected member
of the Royal Netherlands Academy of Arts and Sciences (KNAW) and the chairperson of the KNAW Scientific Council for Natural Sciences and
Engineering. She currently serves as the chairperson of the Expert Panel of the Flavor and Extract Manufacturers Association (FEMA) of
the United States advising on GRAS (Generally Recognized As Safe) notifications for new food flavors and is an elected member of the French
Academy of Agriculture. She is also a board member of Skal Biocontrole, an independent organization that supervises and certifies the
organic food chain in the Netherlands, and a member of the Fonterra Global Food Safety Science Advisory Panel. Previously, she served
as the chairperson of the Dutch Society for Toxicology from 1999 to 2005, a member of the Academic Board at Wageningen University from
2012 to 2017, and a member of the Supervisory Board of Royal Wessanen BV. She was also an active member of several committees on food
and occupational safety, including panels and working groups of the European Food Safety Authority and the Dutch Health Council. From
2013 to 2021, she was a member of the Scientific Advisory Board of the National Institute of Public Health&nbsp;&amp; Hygiene (RIVM).
Dr.&nbsp;Rietjens received her bachelor&rsquo;s and master&rsquo;s degrees in molecular life sciences from Wageningen University and her
Ph.D. degree in toxicology from Wageningen University.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white; color: #212529"><FONT STYLE="background-color: white"><I>George
Yong-Boon Yeo</I>&nbsp;has served as our independent director and chairman of our nominating and corporate governance committee since
July&nbsp;2018. Mr.&nbsp;Yeo is also a member of our audit committee and compensation committee. He currently serves as a Visiting Scholar
at the Lee Kuan Yew School of Public Policy of the National University of Singapore, and an independent non-executive director of AIA
Group Limited (HKEx: 01299). Prior to that, Mr.&nbsp;Yeo served 23 years in the government of Singapore, and was Minister for Information
and the Arts, Health, Trade&nbsp;&amp; Industry, and Foreign Affairs of Singapore. Mr.&nbsp;Yeo is also a member of the Board of Trustees
of Berggruen Institute on Governance and International Advisory Panel of Peking University, among others. Mr.&nbsp;Yeo studied Engineering
at Cambridge University on a President&rsquo;s Scholarship, graduating with a Double First in 1976, and became a Signals Officer in the
Singapore Armed Forces. After graduating from the Singapore Command and Staff College in 1979, he was posted to the Republic of Singapore
Air Force. Mr.&nbsp;Yeo graduated with an MBA (Baker Scholar) from the Harvard Business School in 1985. He was appointed Chief-of-Staff
of the Air Staff from 1985 to 1986 and Director of Joint Operations and Planning in the Defence Ministry from 1985 to 1988, attaining
the rank of Brigadier-General.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #212529"><FONT STYLE="text-transform: uppercase"><B>The
Board recommends that shareholders vote &ldquo;FOR&rdquo; the election to the Board of each of the nominees named above.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>4
<FILENAME>tm2531576d1_ex99-3.htm
<DESCRIPTION>EXHIBIT 99.3
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.3</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PDD Holdings Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Incorporated in the Cayman Islands with limited
liability)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(NASDAQ Ticker: PDD)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Form&nbsp;of Proxy for Annual General Meeting
(or any adjournment or postponement thereof)<BR>
held via live webcast and teleconference at 7:00 a.m.,&nbsp;Irish Standard Time, on December&nbsp;19, 2025. <SUP>(Note 1)</SUP></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.5in">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.3in">I/We,</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="3" STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif">Please Print Name(s)</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.2in">of</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  </TABLE>


<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Please Print Address(es)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">the undersigned, being the registered
holder(s)&nbsp;of _____________________ Class&nbsp;A ordinary shares<SUP>(Note 2)</SUP>, par value US$0.000005 per share, of PDD
Holdings Inc. (the &ldquo;Company&rdquo;) hereby appoint the Chairman of the Annual General Meeting<SUP>(Note 3)</SUP> or
___________________ of _______________________________________________ as my/our proxy to attend and act for me/us at the Annual
General Meeting and at any adjournment(s)&nbsp;or postponement(s)&nbsp;thereof, and in the event of a poll voting, to vote for me/us
as indicated below, or if no such indication is given, as my/our proxy thinks fit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 4%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 61%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PROPOSALS</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="width: 12%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FOR<BR>
<SUP>(Note 4)</SUP></FONT></TD>
    <TD STYLE="width: 12%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">AGAINST<BR>
<SUP>(Note 4)</SUP></FONT></TD>
    <TD STYLE="width: 11%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ABSTAIN<BR>
<SUP>(Note 4)</SUP></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As an ordinary resolution:</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>THAT</B> Mr.&nbsp;Lei Chen be re-elected as a director of the Company.</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As an ordinary resolution:</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>THAT</B> Mr.&nbsp;Jiazhen Zhao be re-elected as a director of the
    Company.</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As an ordinary resolution:</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>THAT</B> Mr.&nbsp;Anthony Kam Ping Leung be re-elected as a director
    of the Company.</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As an ordinary resolution:</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>THAT</B> Mr.&nbsp;Haifeng Lin be re-elected as a director of the
    Company.</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As an ordinary resolution:</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>THAT</B> Dr.&nbsp;Ivonne M.C.M. Rietjens be re-elected as a director
    of the Company.</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As an ordinary resolution:</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>THAT</B> Mr.&nbsp;George Yong-Boon Yeo be re-elected as a director
    of the Company.</P>
    <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="white-space: nowrap; width: 3%">Dated &nbsp;</TD>
  <TD STYLE="border-bottom: Black 1pt solid; width: 35%">&nbsp;</TD>
  <TD STYLE="width: 12%">, 2025</TD>
  <TD STYLE="width: 13%">Signature(s)<SUP>&nbsp;(Note
5)</sup></TD>
  <TD STYLE="border-bottom: Black 1pt solid; width: 37%">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Notes:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>1</SUP></FONT></TD><TD>Please send the completed
                                            and signed proxy form to us (i) by mail to First Floor, 25 St Stephen&rsquo;s Green, Dublin
                                            2, D02 XF99 Ireland (Attention to Investor Relations), or (ii) by email to <U>investor@pddholdings.com</U>.</TD></TR>
<TR STYLE="vertical-align: top">
<TD><SUP>2</SUP></TD><TD>Please insert the number of shares registered in your name(s) to which this proxy relates. If no number is inserted, this proxy card
will be deemed to relate to all the shares in the Company registered in your name(s).</TD></TR>
<TR STYLE="vertical-align: top">
<TD><SUP>3</SUP></TD><TD STYLE="text-align: justify">If any proxy other than the Chairman is preferred, strike out the words &ldquo;<B>THE CHAIRMAN OF THE
ANNUAL GENERAL MEETING OR</B>&rdquo; and insert the name and address of the proxy desired in the space provided. A member may appoint
one or more proxies to attend and vote in his or her stead. <B>ANY ALTERATION MADE TO THIS PROXY CARD MUST BE INITIALED BY THE PERSON(S)
WHO SIGN(S) IT</B>.</TD></TR>
<TR STYLE="vertical-align: top">
<TD><SUP>4</SUP></TD><TD STYLE="text-align: justify"><B>IMPORTANT: IF YOU WISH TO VOTE FOR THE RESOLUTION, TICK THE APPROPRIATE BOX MARKED &ldquo;FOR.&rdquo;
IF YOU WISH TO VOTE AGAINST THE RESOLUTION, TICK THE APPROPRIATE BOX MARKED &ldquo;AGAINST.&rdquo; <FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase">If
you wish to abstain from voting on a particular resolution, tick the appropriate box marked &ldquo;ABSTAIN.&rdquo; </FONT></B>Failure
to complete any or all the boxes will entitle your proxy to cast his or her votes at his or her discretion.</TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>5</SUP></FONT></TD><TD STYLE="text-align: justify">This proxy card must be signed by you or your attorney duly authorized in writing or, in the case of a
corporation, must be executed under the hand of an officer or attorney duly authorized to sign the same.</TD></TR></TABLE>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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