Lates News

On May 27, Pinduoduo released its latest financial report, reporting revenue of 106.2 billion yuan and a profit of 12.5 billion yuan for the first quarter. The decline in profit compared to the previous year is mainly due to the continued investment in the "billion support" program and heavy investment in the supply chain, which has to some extent affected short-term performance. So far this year, Pinduoduo has continued to increase its support for agriculture and merchants, bringing more quality goods to consumers and more incremental revenue to platform merchants.