March 20: Today, Pinduoduo announced its fourth-quarter and full-year financial results for 2023, ending December 31st.
Key Highlights:
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Q4 2023 Revenue: RMB 88.88 billion, exceeding market expectations of RMB 79.87 billion, and a significant increase from RMB 39.82 billion in the same quarter last year.
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Non-GAAP Net Income: RMB 25.48 billion, representing a 110% year-over-year growth rate.
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Adjusted Earnings per ADS: RMB 17.32 for the fourth quarter, surpassing the market forecast of RMB 11.28.
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Net Income Attributable to Pinduoduo Shareholders: RMB 23.2803 billion, a 146% increase year-over-year; Non-GAAP Net Income Attributable to Pinduoduo Shareholders: RMB 25.4765 billion, reflecting a 110% year-over-year growth.
Within the Q4 performance:
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Revenue from Online Marketing Services and Others: RMB 486.756 billion (approximately USD 68.558 billion), a 57% increase compared to RMB 310.234 billion in Q4 2022.
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Revenue from Transaction Services: RMB 402.054 billion (approximately USD 56.628 billion), a 357% growth from RMB 87.966 billion in Q4 2022.
For the full-year 2023, Pinduoduo reported:
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Total Revenue: RMB 2476.392 billion, a 90% year-over-year increase.
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Net Income Attributable to Pinduoduo Shareholders: RMB 600.265 billion, a 90% year-over-year increase; Non-GAAP Net Income Attributable to Pinduoduo Shareholders: RMB 678.993 billion, a 72% year-over-year growth.
Chen Lei, Chairman and Co-CEO of Pinduoduo, stated, "For tech companies, research and development are fundamental. This year, we will maintain our investment力度, explore and cultivate new, high-quality production forces, and promote the application and transformation of cutting-edge technologies in agriculture and manufacturing. This will support our platform's high-level, high-quality development."
