Pinduoduo's net profit for Q1 2024 fiscal year is 27.998 billion yuan, an increase of 245.61% year-over-year.

2026-01-30 16:37:31

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On May 22, Pinduoduo (Stock Code: PDD) announced its financial report, showing that the company’s net profit attributable to ordinary shareholders for the first quarter of fiscal year 2024 was 279.98 billion, a year-on-year increase of 245.61%; operating revenue was 86.812 billion, a year-on-year increase of 130.66%.

Pinduoduo Holdings was established on April 20, 2015, in the Cayman Islands. It is a third-party mobile e-commerce platform under Shanghai Xunmeng Information Technology Co., Ltd., adopting a merchant onboarding model, and a pioneer of new e-commerce focused on people. Born in the mobile era, Pinduoduo started as a retail platform for agricultural products, deeply engaged in agriculture, and created a new retail model characterized by “pin” features. It has gradually developed into a comprehensive e-commerce platform with a full category focus on agricultural and sideline products, and is the only large-scale pure mobile e-commerce platform in the world. As a pioneer of new e-commerce, Pinduoduo is committed to innovative consumer experiences, integrating “more discounts” and “more fun” to create lasting value for the broadest user base. As of June 2021, the platform’s annual active users reached 8.499 billion, the number of merchants reached 8.6 million, and the average daily in-transit parcels exceeded 100 million. It is the largest e-commerce platform in mainland China in terms of user base and the world’s largest online retail platform for agricultural and sideline products.

(Source: Tonghuashun (300033) iFinD)

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