Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
Company

Pinduoduo's revenue surges in Q1

May 27, 2021


Abstract : The Nasdaq-listed Chinese e-commerce platform Pinduoduo Inc. posted 239-percent year-on-year revenue growth in the first quarter (Q1) of this year.

SHANGHAI, May 27 (Xinhua) -- The Nasdaq-listed Chinese e-commerce platform Pinduoduo Inc. posted 239-percent year-on-year revenue growth in the first quarter (Q1) of this year.

Total revenue in the quarter ending March 31 topped 22.16 billion yuan (about 3.47 billion U.S. dollars), according to unaudited financial results for Q1 released Wednesday.

The revenue spike was mainly due to the strong growth of online marketing technology services revenue. In Q1, the platform's revenue from online marketing technology services was 14.11 billion yuan, up by 157 percent from a year earlier.

The company also saw a Non-GAAP net loss of 1.89 billion yuan in Q1, significantly narrower than that of 3.17 billion yuan in the same period in 2020.

The number of annual active buyers reached 823.8 million as of March 31, a net increase of 195.7 million over the same period last year.

Founded in 2015, the e-commerce platform offers bulk purchase deals with big discounts and enjoys a huge consumer base in rural areas and small cities.

It started trading on the Nasdaq Stock Market in July 2018. Enditem

Scan the QR code and push it to your mobile phone

Keyword: revenue Pinduoduo

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial