Pinduoduo's net profit for the first quarter of fiscal year 2024 was 27.998 billion yuan, an increase of 245.61% year-over-year.

On May 22, Pinduoduo (stock code: PDD) announced its financial report, showing that the net profit attributable to ordinary shareholders for the first quarter of the 2024 fiscal year was 27.998 billion yuan, a year-on-year increase of 245.61%; operating revenue was 86.812 billion yuan, a year-on-year increase of 130.66%.

Pinduoduo Holdings was registered in the Cayman Islands on April 20, 2015, and is a third-party mobile e-commerce platform under Shanghai Xunmeng Information Technology Co., Ltd. It is also a pioneer in new e-commerce that prioritizes people. Born in the mobile era, Pinduoduo started as a retail platform for agricultural products, deeply engaging in agriculture, and has created a new model of agricultural product retailing characterized by “group buying.” It has gradually developed into a comprehensive e-commerce platform with a distinct focus on agricultural and sideline products, and it is the only scalable pure mobile e-commerce platform in the world. As a pioneer in new e-commerce, Pinduoduo is committed to creating lasting value for the largest number of users by innovating consumer experiences that blend “more affordability” and “more fun.” As of June 2021, the platform’s annual active user count reached 849.9 million, the number of merchants reached 8.6 million, and the average number of packages in transit daily exceeded 100 million, making it the e-commerce platform with the largest user base in mainland China and the largest online retail platform for agricultural and sideline products in the world.

(Data source: Tonghuashun (300033) iFinD)