PDD Analysts See HK Listing as More Likely After Auditor Change

PDD Holdings Inc.’s move to switch to a Hong Kong-based auditor may indicate the Chinese e-commerce firm is preparing to apply for a second listing there, according to two analysts.

The parent company of budget shopping app Temu said in a filing on Wednesday that it has tapped Hong Kong-based auditors of Ernst & Young for a review of its financial statements this year. The firm previously worked with Beijing-based Ernst & Young Hua Ming LLP.

Such a shift likely suggests that PDD is pursuing a listing in Hong Kong over coming months, according to Citigroup analyst Alicia ...