The PE ratio may be higher than 10. In fact it may be twice as much.
10 x p/e
Just look at PDD which operates an on line e-commerce and market place including Temu has a trailing PE 28 and forward PE 16. If you take an average of the two ratios, then PDD's PE = 22. https://ca.finance.yahoo.com/quote/PDD/key-statistics?p=PDD