The Chinese owner of bargain app Temu reported slower quarterly profit and revenue growth, capping a turbulent year for the e-commerce giant as it faced stiff competition at home, geopolitical tensions abroad and U.

Chinese e-commerce giant PDD Holdings announced on Thursday slower revenue growth for the third quarter running, as the Temu owner confronts trade tensions between Beijing and Washington.

The parent company behind Temu disappointed investors with revenue that missed estimates, as consumer activity in China remains sluggish.