Shares in Pinduoduo closed down 6% on Monday after the e-commerce platform posted 3% revenue growth for the fourth quarter of 2021, the slowest rate recorded since its public listing in August 2018. Previous reports have seen growth rates of double or even triple digits for the Chinese company. Jun Liu, the firm’s Vice President of Finance, attributed the revenue slowdown to “moderating user growth and fluctuation in user activity.” However, the company still recorded a profit for the reporting quarter thanks to more controlled spending and a one-off rebate from one service provider. Pinduoduo’s net income was RMB 6.6 billion in the quarter ended Dec. 31, compared with a loss of RMB 1.4 billion a year ago. Pinduoduo’s slowed growth follows Alibaba record slowest revenue growth for the fourth quarter, highlighting the blows China’s economic slowdown and coronavirus outbreaks have struck against the country’s tech firms. [Pinduoduo press release]