Temu responds to European Commission statement of grounds
Temu said it responds to the European Commission statement of grounds under the Foreign Subsidies Regulation.
Temu said it does not agree with the Commission's preliminary findings in its statement of grounds.
Temu said it will analyze and respond to the statement of grounds and trusts the Commission will reconsider its position.
Temu said it cooperated fully and complied with all requests the Commission made during the inspection.
Temu also categorically denies having received any foreign subsidies that distort the internal market.
Temu said it generates sustained cash flows from its own operating activities that are sufficient to fund Temu's operations in the EU.
Temu said it does not need to count on "foreign subsidies" to fund any competitive activities or to create any competitive advantage in the internal market.
PDD•
