Securities Times E Company News: On November 28th, Pinduoduo Group released its financial report for the third quarter of 2023 as of September 30th. In the third quarter, Pinduoduo continued to increase its investment in technology, and its research and development expenses reached a new high of 2.85 billion yuan, a year-on-year increase of 5.5%. "We can clearly feel the sustained economic recovery, as well as the potential and resilience of the consumer market. At the same time, we can also see from user behavior that consumer upgrading is not only related to quality, but also to price. It is the optimization of the 'quality to price ratio' and the ultimate pursuit of consumers for good products at good prices." said Chen Lei, Chairman and Co CEO of Pinduoduo Group.