KEY TAKEAWAYSAmerican depositary receipts (ADRs) of Chinese e-commerce company PDD Holdings are plunging in premarket trading Monday after the parent of discount marketplace Temu posted lower-than-estimated sales.PDD reported second-quarter sales of 97.06 billion yuan ($13.63 billion), below consensus estimates of analysts polled by Visible Alpha.PDD chairman and co-CEO Lei Chen said the company faces "many challenges ahead." American depositary receipts (ADRs) of Chinese e-commerce company PDD Holdings (PD ...

Revenue Growth - Total revenues in Q2 2024 were RMB97,059.5 million (US$13,355.8 million), an 86% increase from RMB52,280.7 million in Q2 2023[3][18] - Revenues from online marketing services and others in Q2 2024 were RMB49,115.9 million (US$6,758.6 million), a 29% increase from RMB37,932.8 million in Q2 2023[4] - Revenues from transaction services in Q2 2024 were RMB47,943.7 million (US$6,597.3 million), a 234% increase from RMB14,347.9 million in Q2 2023[4] - Revenues for the six months ended June 30, 2024, reached RMB 183,871,590 thousand, a significant increase from RMB 89,917,798 thousand in the same period in 2023[27] Profitability - Operating profit in Q2 2024 was RMB32,564.5 million (US$4,481.0 million), a 156% increase from RMB12,718.8 million in Q2 2023[3][20] - Net income attributable to ordinary shareholders in Q2 2024 was RMB32,009.4 million (US$4,404.6 million), a 144% increase from RMB13,108.1 million in Q2 2023[3][20] - Operating profit for the six months ended June 30, 2024, was RMB 58,538,189 thousand, compared to RMB 19,647,773 thousand in the same period in 2023[27] - Net income for the six months ended June 30, 2024, was RMB 60,007,181 thousand, up from RMB 21,209,113 thousand in the same period in 2023[27] - Operating profit for Q2 2024 increased to RMB 32,564,536, a significant rise from RMB 12,718,755 in 2023[32] - Net income attributable to ordinary shareholders for Q2 2024 was RMB 32,009,355, compared to RMB 13,108,086 in 2023[32] Non-GAAP Metrics - Non-GAAP operating profit and net income are used by the company to evaluate performance and exclude share-based compensation, fair value changes of investments, and interest expenses related to convertible bonds[23] - Non-GAAP operating profit for Q2 2024 reached RMB 34,987,298, up from RMB 14,609,384 in 2023[32] - Non-GAAP net income attributable to ordinary shareholders for Q2 2024 stood at RMB 34,432,134, up from RMB 15,269,356 in 2023[32] - Non-GAAP diluted earnings per ordinary share for Q2 2024 were RMB 5.81, up from RMB 2.62 in 2023[32] - Non-GAAP diluted earnings per ADS for Q2 2024 were RMB 23.24, compared to RMB 10.47 in 2023[32] Earnings Per Share - Basic earnings per ADS for the six months ended June 30, 2024, were RMB 43.47, compared to RMB 15.82 in the same period in 2023[28] - Diluted earnings per ordinary share for Q2 2024 were RMB 5.40, compared to RMB 2.25 in 2023[32] - Diluted earnings per ordinary share for the six months ended June 30, 2024, were RMB 10.14, compared to RMB 3.63 in 2023[32] Cash Flow and Investments - Cash, cash equivalents and short-term investments were RMB284.9 billion (US$39.2 billion) as of June 30, 2024, compared with RMB217.2 billion as of December 31, 2023[21] - Net cash generated from operating activities in Q2 2024 was RMB43,792.6 million (US$6,026.1 million), compared with RMB23,396.0 million in Q2 2023[21] - Net cash generated from operating activities for the six months ended June 30, 2024, was RMB 64,859,819 thousand, up from RMB 24,734,003 thousand in the same period in 2023[30] - Cash and cash equivalents decreased from RMB 59,794,469 thousand as of December 31, 2023, to RMB 56,756,329 thousand as of June 30, 2024[26] Assets and Equity - Total assets increased from RMB 348,078,120 thousand as of December 31, 2023, to RMB 432,744,342 thousand as of June 30, 2024[26] - Other non-current assets were RMB67.8 billion (US$9.3 billion) as of June 30, 2024, compared with RMB48.0 billion as of December 31, 2023[21] - Total shareholders' equity increased from RMB 187,241,607 thousand as of December 31, 2023, to RMB 253,978,218 thousand as of June 30, 2024[27] Expenses - Sales and marketing expenses in Q2 2024 were RMB26,049.1 million (US$3,584.5 million), a 48% increase from RMB17,542.2 million in Q2 2023[5] - Research and development expenses for the six months ended June 30, 2024, were RMB 5,818,830 thousand, compared to RMB 5,240,621 thousand in the same period in 2023[27] - Share-based compensation expenses for Q2 2024 were RMB 2,422,762, up from RMB 1,890,629 in 2023[32] Share Metrics - Non-GAAP diluted weighted-average number of ordinary shares outstanding for Q2 2024 was 5,925,659 thousand, slightly up from 5,833,348 thousand in 2023[32]

DUBLIN and SHANGHAI, Aug. 26, 2024 (GLOBE NEWSWIRE) -- PDD Holdings Inc. (“PDD Holdings” or the “Company”) (NASDAQ: PDD), today announced its unaudited financial results for the second quarter ended June 30, 2024. Second Quarter 2024 Highlights Total revenues in the quarter were RMB97,059.5 million (US$113,355.8 million), an increase of 86% from RMB52,280.7 million in the same quarter of 2023.Operating profit in the quarter was RMB32,564.5 million (US$4,481.0 million), an increase of 156% from RMB12,718.8 m ...

NEW YORK, Aug. 26, 2024 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of PDD Holdings Inc. f/k/a Pinduoduo Inc. (NASDAQ: PDD).Shareholders who purchased shares of PDD during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/pdd-holdings-inc-f-k-a-pinduoduo-inc-loss-submission-form/?id=97707& ...

SAN DIEGO, Aug. 26, 2024 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of PDD Holdings Inc. f/k/a Pinduoduo Inc. (NASDAQ: PDD) publicly traded securities between April 30, 2021 and June 25, 2024, inclusive (the “Class Period”), have until October 15, 2024 to seek appointment as lead plaintiff of the PDD class action lawsuit. Captioned Baxter v. PDD Holdings Inc. f/k/a Pinduoduo Inc., No. 24-cv-05653 (E.D.N.Y.), the PDD class action lawsuit charges PDD as well as ...

BENSALEM, Pa., Aug. 23, 2024 /PRNewswire/ -- Law Offices of Howard G. Smith announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against PDD Holdings Inc. ("PDD" or the "Company") (NASDAQ: PDD).Class Period: April 30, 2021 – June 25, 2024Lead Plaintiff Deadline: October 15, 2024Investors suffering losses on their PDD investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 215 ...

NEW YORK, Aug. 23, 2024 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of those who acquired PDD Holdings Inc. f/k/a Pinduoduo Inc. (“PDD” or the “Company”) (NASDAQ: PDD) securities during the period of April 30, 2021 through June 25, 2024, inclusive (“the Class Period”). Investors have until October 15, 2024 to apply to the Court to be appointed as lead plaintiff i ...

The current trend for PDD Holdings Inc PDD, owner of Temu and Pinduoduo, is moderately bearish. The Shanghai-based online retailer saw its share price spike 78.36% over the past year. However, it’s down 4.6% year-to-date.Let’s look at what the charts indicate for PDD and how the company, scheduled to report second-quarter earnings on Monday, currently maps against Wall Street estimates. PDD Bullish MomentumThe stock is currently experiencing slight selling pressure. However, several technical indicators are ...

NEW YORK, Aug. 23, 2024 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in PDD Holdings Inc. f/k/a Pinduoduo Inc. ("PDD" or the "Company") (NASDAQ: PDD) of a class action securities lawsuit.CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of PDD investors who were adversely affected by alleged securities fraud between April 30, 2021 and June 25, 2024. Follow the link below to get more information and be contacted by a member of our team:https://zlk.com/pslra-1/pdd-holdings-inc-f-k-a- ...

RADNOR, Pa., Aug. 22, 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 lo ...