On April 4, 2023, PDD Holdings Inc. (the “Company”) announced that its board of directors (the “Board”) has appointed Mr. Jiazhen Zhao as Co-Chief Executive Officer, and also has elected Mr. Zhao as an executive director of the Company, effective immediately. Mr. Zhao is a founding member of the Company and has served as Senior Vice President since 2018. Mr. Zhao has held several leadership roles across the Company.

He started the Company's Duo Duo Grocery business and led the operations of a few key product categories in the Pinduoduo platform, including agriculture. He also led the Company's supply chain efforts. Mr. Zhao received his bachelor's degree in e-commerce management from South China University of Technology.