Our reporter Li Qiaoyu
On the evening of August 26th, Pinduoduo released its second quarter performance report. According to the announcement, Pinduoduo achieved a revenue of 97.06 billion yuan in the second quarter of this year, an increase of 86% compared to the same period last year's 52.28 billion yuan; Adjusted operating profit of 34.99 billion yuan, up 139%; Realize a net profit attributable to the common shareholders of the company of 32.01 billion yuan, a year-on-year increase of 144%; The net profit attributable to the common shareholders of the company was 34.43 billion yuan, a year-on-year increase of 125%.
Specifically, in the second quarter of this year, Pinduoduo's revenue from online marketing services and other services was 49.12 billion yuan, an increase of 29% compared to 37.93 billion yuan in the same period last year. The revenue from trading services in the second quarter was 47.94 billion yuan, an increase of 234% compared to 14.35 billion yuan in the same period of 2023.
From the perspective of revenue composition, domestic services represented by online marketing services and other services have a year-on-year growth rate of 29%. Based on the total revenue growth rate of 86% year-on-year in the second quarter of the company, it is expected that the company's cross-border e-commerce business will still have significant growth, which is the main source of driving Pinduoduo's revenue growth, "said Li Chengdong, founder of Dolphin Think Tank, to a reporter from Securities Daily. The overseas market remains a blue ocean market for the e-commerce industry, which is expected to bring further revenue growth opportunities for related enterprises and is also a key direction for various e-commerce companies to compete for in the future.
During the conference call, Chen Lei, Co CEO of Pinduoduo, stated that the form of Pinduoduo's global business is still undergoing continuous iteration and exploration. Currently, the global business has entered over 70 markets and invested a significant amount of resources. In the future, Pinduoduo will continue to invest in supply chain capabilities, service capabilities, compliance capabilities, and other aspects to achieve high-quality development of its global business.
Chen Lei stated that in the next year, Pinduoduo will invest billions of yuan in resource packages to support new quality merchants and resolutely carry out merchant ecological governance. He stated that the overall scale of the platform has reached a considerable level, and improving ecological construction is not an overnight effort. The management has reached a consensus and is prepared to sacrifice short-term profits for long-term investment.
Public information shows that in the next year, Pinduoduo will support new quality merchants and new quality industry belts, significantly reduce transaction fees for high-quality merchants, with an estimated reduction of 10 billion yuan, and continue to strengthen positive incentives for high-quality ecological development, comprehensively improving the quality and efficiency of the supply chain upstream.
On the other hand, subsidy activities targeting C-end users are still ongoing. Data shows that in the first week of this year's "618" promotion, the number of merchants subsidized by Pinduoduo with billions of yuan increased by more than 90% year-on-year.