But it became “a lot of spelling used by 600 million people.”
On May 22, Pinduoduo (PDD.US) released its first quarter financial report as of March 31, 2020.
The financial report shows that Pinduoduo ’s fourth quarter revenue was 6.541 billion yuan (the following currency units are all “RMB”), a year-on-year increase of 44% < span style = "letter-spacing: 0px;">, higher than Bloomberg ’s 4.969 billion yuan forecast . Compared with the 228%, 169%, 123%, and 91% of the previous four quarters, Pinduoduo’s revenue growth continued to decline year-on-year in this quarter, and a new low in revenue growth since listing.
Under general accounting standards, the net loss attributable to ordinary shareholders of Pinduoduo is 31.7 100 million yuan, 2.67 billion yuan higher than market expectations, The year-on-year increase was 129.88%.
Pingduo Chairman and CEO Huang Zheng mentioned in the last quarter ’s earnings conference call that the interference caused by the new coronary pneumonia epidemic will have a negative impact on the company ’s performance in the first quarter of 2020. Expectations remain unchanged, will continue to invest in user participation , and remain optimistic about the rapid growth and innovation in the new year.
For the 12-month period ending March 31, 2020, number of active buyers for many years Number of people, including independent apps, applets and mobile channels such as H5) Up to 6.28 Billion ,Net increase from the same period last year 1.85 100 million, net increase from the previous quarter 4290 Wan, Become “a lot of fights used by 600 million people” . In contrast, the number of new users in the first two quarters was 48.9 million and 53.1 million.
In the latest quarter, Pinduoduo ’s average monthly active users reached 487 million, an increase of 198 million from the same period in 2019. In addition, Pin Duoduo ’s single-user consumption is also steadily increasing. As of the end of March, average annual expenditures per active buyer reached 1842.4 yuan. At the end of 2019, this figure was 1720.1 yuan.
First quarter, Pinduoduo launches “Anti-epidemic Channel” < span style = "letter-spacing: 0px;">, Through “10 billion subsidies” to comprehensively cover the medical and health supplies and medicines related to the epidemic, In order to ensure that emergency commodities including masks, thermometers, antiviral granules, etc., are maintained in a sufficient supply at a low price throughout the network.
In addition, Pinduoduo issued a notice to the courier company to address the difficulties of fulfilling the statute of limitations involving “tens of billions of subsidies” and “protecting health.Directed subsidies for logistics orders of the “anti-epidemic channel”; the first batch of 1 billion special subsidy funds was launched to encourage all businesses that insist on serving consumers during the epidemic. There is no upper limit for subsidies. This makes Pinduo more than one quarter The cost of sales has increased, and sales and marketing expenses reached 7.297 billion yuan.
By the end of the first quarter, Pinduoduo accounted for cash and cash equivalents and short-term investments totaling 42.6 billion yuan (excluding restricted funds). Pinduoduo said that the company has sufficient cash reserves, and the tens of billions of subsidies will continue, and it will continue to expand the number of categories and commodities.
On May 13th, Pinduoduo once reached a new high of 60.6 US dollars in stock prices, and finally closed up 5.26% to 57.83 US dollars, with a market value of 69.259 billion US dollars overtaking JD.com.
Before the financial report was released, Bank of America Merrill Lynch Global Research downgraded Pinduoduo ’s ADR rating from buy to neutral, with an average target price of $ 64. As of press time, the stock price before the bidding was $ 58, a decrease of 3.33%.