Pinduoduo's new quarterly financial report: Business still in a growth period, will increase investment to deepen high-quality development
On May 22, Pinduoduo Group released its first quarter financial report for the year 2024, ending on March 31. The financial report shows that Pinduoduo Group achieved a revenue of 86.8 billion RMB in the first quarter, a year-on-year increase of 131%. 2024 is an important year for Pinduoduo Group to continue deepening its high-quality development strategy, as well as the "Consumer Promotion Year" designated by the Ministry of Commerce. Pinduoduo actively responded by launching a series of measures to benefit merchants and the people during festive seasons such as the Chinese New Year, guiding high-quality consumption. At the same time, it collaborated with selected quality merchants to focus on the theme of "Chinese brands" to enrich high-quality supply, improve the high-quality ecosystem, and achieve steady growth in performance through the dual drive of policies and activities. "The company is still in a growth phase, and this year we will continue to increase investment to further deepen the high-quality development strategy," said Zhao Jiazhen, Executive Director and Co-CEO of Pinduoduo Group. "Our high-quality development is a long-term, massive, and complex systematic project. We will gather forces from all parties, solidly promote it, implement it rigorously, and accelerate the realization of the goals and tasks of this new stage of development."
According to the Zhitong Finance and Economics APP, on May 22nd, Pinduoduo Group (PDD.US) released its first quarter financial report for the year 2024 ending on March 31st. The financial report shows that Pinduoduo Group achieved a revenue of 86.8 billion RMB in the first quarter, a year-on-year increase of 131%.
2024 is an important year for Pinduoduo Group to continue deepening its high-quality development strategy and is also designated as the "Consumer Promotion Year" by the Ministry of Commerce. Pinduoduo actively responded by launching a series of measures to benefit merchants and the people during festive seasons such as the Spring Festival, focusing on guiding high-quality consumption. By collaborating with selected quality merchants and focusing on the theme of "Chinese Brands", Pinduoduo enriched high-quality supply, improved the high-quality ecosystem, and achieved steady growth in performance through the dual drive of policies and activities.
"The company is still in a growth period, and this year we will continue to increase investment to further deepen our high-quality development strategy." Zhao Jiazhen, Executive Director and Co-CEO of Pinduoduo Group, said, "Our high-quality development is a long-term, massive, and complex systematic project. We will gather forces from all parties, solidly promote it, implement it rigorously, and accelerate the achievement of the goals and tasks of this new stage of development."
