China’s Faltering Recovery Is Good for Business — at Least if You’re Pinduoduo

A struggling economy isn’t usually good for business, but there’s one Chinese company that can chalk up at least some of its recent success to China’s stalling recovery.

PDD Holdings Inc., the company behind online discounter Pinduoduo, reported that its revenue leapt 58% year-on-year to 37.6 billion yuan ($5.3 billion) in the first quarter, according to its latest earnings, due in a part to its role as a major reseller of goods that struggling merchants need to offload, as well as a controversial refund policy that its customers love.