证 券 研 究 报 告 事项： | --- | --- | --- | --- | --- | |----------------------------------|---------|----------------------|-------------------------|---------| | | 2023A | 2024E | 2025E | 2026E | | 营业总收入 ( 百万 ) | 247,639 | 422,572 | 525,620 | 603,366 | | 同比增速 (%) | 89.7% | 70.6% | 24.4% | 14.8% | | 归属于普通股东 | 60,027 | 103,516 | 137,311 | 176,779 | | 净利润 ( 百万 ) | | | | | | 同比增速 (%) | 90.3% | 72.5% | 32.6% | 28.7% | | 每股盈利 ( 元 ) | | | 10.91 18.63 24.72 31.82 | | | 市盈率 ( 倍 ) 15.8 | | 9.2 | 6.9 | 5.4 | | 市净率 ( 倍 ) | | ...

拼多多（PDD.US） 更新报告 目标价 146.10 美元，买入评级：基于本次财报，我们下调 2024-2026 年 公司收入至 4,124/5,210/6,344 亿元（原为 4,582/6,221/7,681 亿元）， 下 调 2024-2026 年 运 营 利 润 至 1,206/1,508/1,863 亿 元 （原为 1,352/1,856/2,334 亿元），对应每 ADS 收益 87.1/109.0/134.3 元。我们 下调目标价至 146.10 美元，维持买入评级。 唐伊莲 主要数据 GMV (mn) YoY | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |------------|---------------|-------|----------------------|-------|-------|-------|------------------|-------|-------|-------|------- ...

Investors can contact the law firm at no cost to learn more about recovering their losses LOS ANGELES, Sept. 03, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises PDD Holdings Inc. f/k/a Pinduoduo Inc. ("PDD" or the "Company") (NASDAQ: PDD) investors of a class action representing investors that bought securities between April 30, 2021, and June 25, 2024, inclusive (the "Class Period"). PDD investors have until October 15, 2024 to file a lead plaintiff motion. Investors are encouraged to contact attorne ...

NEW YORK, Sept. 03, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of PDD Holdings Inc. f/k/a Pinduoduo Inc. (NASDAQ: PDD) between April 30, 2021 and June 25, 2024, both dates inclusive (the “Class Period”), of the important October 15, 2024 lead plaintiff deadline in the securities class action first filed by the Firm. SO WHAT: If you purchased PDD Holdings securities during the Class Period you may be entitled to compensation without ...

All the doom and gloom could set the stage for a PDD stock boom.On an emotional level, buying when there's blood in the streets is easier said than done. Temu and Pinduoduo parent company PDD Holdings (PDD 2.88%) provided a textbook example recently with a share price bloodletting to test the mettle of self-proclaimed contrarians.As is typical with a blood-in-the-streets event, social media pundits and Wall Street's experts aired their grievances and vented their consternation. Amid the fear and loathing, p ...

Two giants of the stock market, PDD Holdings Inc. PDD and Tesla Inc. TSLA, are making waves not just for their market performance but for their substantial cash reserves.Both companies have amassed significant cash piles without offering dividends or engaging in share buybacks, raising eyebrows among investors.PDD’s Cash Pile Raises ConcernsPDD, the Chinese ecommerce powerhouse behind the popular low-cost marketplace Temu, currently boasts a staggering $38 billion in net cash, reported the Financial Times. ...

证券研究报告·海外公司点评·互联网电商 2024Q2 业绩点评：收入低于预期，未来投入 加大短期业绩承压 2024 年 09 月 01 日 | --- | --- | --- | --- | --- | --- | |-------------------------------|----------|----------|-----------|----------------|-----------| | [ 盈利预测与估值 Table_EPS] | 2022A | 2023A | 2024E | 2025E | 2026E | | 营业总收入（百万元） | 130,558 | 247,639 | 407,859 | 549,507 | 686,415 | | 同比（ % ） | 39.0% | 89.7% | 64.7% | 34.7% | 24.9% | | Non-GAAP 净利润 | 39,529.7 | 67,899.2 | 122,357.7 | 154,961.0 | 205,924.4 | | 同比（ % ） | 185.8% | 71.8% | 80.2% | 26.7% | 32.9% ...

Investment Rating - The report maintains an "Overweight" rating for Pinduoduo (PDD.O) with a target price of 160 USD for 2024 [4][11] Core Views - Pinduoduo's revenue growth slowed in Q2 2024, with online marketing and commission income falling below consensus expectations [4][10] - The company is focusing on long-term high-quality development, with increased investments in R&D and merchant ecosystem governance [4][21] - Pinduoduo's adjusted operating profit in Q2 2024 increased by 139% YoY, while adjusted net profit rose by 125% YoY [9][21] Financial Performance - Q2 2024 revenue reached 97.1 billion RMB, an 86% YoY increase, but below the Bloomberg consensus estimate of 100 billion RMB [21] - Online marketing services and other revenues grew by 29% YoY to 49.1 billion RMB, while transaction services revenue surged by 234% YoY to 47.9 billion RMB [21] - Adjusted operating profit margin improved to 33.6%, and adjusted net profit margin rose to 35.5% in Q2 2024 [9] Business Segments - Online marketing services and other revenues grew by 29% YoY in Q2 2024, reaching 49.1 billion RMB [10] - Commission income increased by 234% YoY in Q2 2024, totaling 47.9 billion RMB [10] Future Projections - Revenue for FY2024E/FY2025E/FY2026E is projected at 447.6/570.7/664.7 billion RMB, representing YoY growth of 81%/28%/16% [10][21] - Adjusted net profit for FY2024E/FY2025E/FY2026E is forecasted at 1,296/1,475/1,662 billion RMB, with YoY growth of 91%/14%/13% [10][21] Strategic Initiatives - Pinduoduo is investing in high-quality development, focusing on merchant ecosystem governance and R&D [4][21] - The company plans to support high-quality merchants by reducing transaction fees by approximately 10 billion RMB [21] - Pinduoduo is also enhancing consumer experience and advancing agricultural projects to improve supply chain efficiency [21]

RADNOR, Pa., Aug. 31, 2024 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed against PDD Holdings Inc. f/k/a Pinduoduo Inc. ("PDD") (NASDAQ: PDD) on behalf of investors who purchased or otherwise acquired PDD securities between April 30, 2021 and June 25, 2024, inclusive (the "Class Period") The lead plaintiff deadline is October 15, 2024.CONTACT KESSLER TOPAZ MELTZER & CHECK, LLP: If you suffered PDD los ...

Don't let the sheer scope of the sell-off deter you. The market's overreacting to management's cautious language regarding the future.It's been a tough past few days for PDD Holdings (PDD 2.88%) shareholders. The stock tumbled to the tune of 28% on Monday -- it's biggest-ever single-day setback -- following the release of its disappointing second-quarter results and alarming guidance. Shares have continued to fall since then, too. All told, PDD stock now sits more than 40% below its August peak.Rather than ...