Pinduoduo invested 500 million in establishing a new company in Xiong'an.

Tianyancha App shows that Pinduoduo's affiliated company Pinduoduo Information Technology Service Co., Ltd. was established in May of this year, with Yang Qingyong as its legal representative and a registered capital of 500 million RMB. Its business scope includes information technology consulting services, data processing services, cloud platform-based business outsourcing services, etc. Shareholder information shows that the company is wholly owned by Pinduoduo's affiliated company Shanghai Xunmeng Information Technology Co., Ltd.