PDD(US:PDD)2023-11-27 23:07Financial Performance - Total revenues for Q3 2023 were RMB 68,840.4 million (US$ 19,435.4 million), a 94% increase from RMB 35,504.3 million in Q3 2022[8] - Net income attributable to ordinary shareholders in Q3 2023 was RMB 15,537.1 million (US$ 2,129.5 million), up 47% from RMB 10,588.6 million in Q3 2022[9] - Non-GAAP net income attributable to ordinary shareholders for the quarter was RMB 17,027.1 million (US$ 2,333.8 million), a 37% increase from RMB 12,447.2 million in the same quarter of 2022[9] - Operating profit for Q3 2023 was RMB 16,656.0 million (US$ 2,282.9 million), reflecting a 60% increase from RMB 10,436.6 million in Q3 2022[23] - Basic earnings per ADS increased to RMB 11.38 (US$1.56) from RMB 8.38 in the same quarter of 2022[27] - Non-GAAP diluted earnings per ordinary share for Q3 2023 was RMB 7.25, a 51.8% increase from RMB 4.78 in the same period of 2022[42] - Diluted earnings per ordinary share for Q3 2023 was RMB 2.65, up 44.2% from RMB 1.84 in Q3 2022[42] Revenue Breakdown - Revenues from online marketing services and others were RMB 39,687.7 million (US$ 5,439.7 million), a 39% increase from RMB 28,482.0 million in Q3 2022[10] - Revenues from transaction services reached RMB 29,152.7 million (US$ 3,995.7 million), a 315% increase from RMB 7,022.3 million in the same quarter of 2022[25] Expenses - Research and development expenses in Q3 2023 were RMB 2,847.3 million (US$ 390.3 million), compared to RMB 2,698.2 million in the same quarter of 2022[12] - Sales and marketing expenses increased by 55% to RMB 21,748.5 million (US$ 2,980.9 million) from RMB 14,048.8 million in the same quarter of 2022[26] - General and administrative expenses were RMB 758.3 million (US$ 103.9 million), down from RMB 906.6 million in Q3 2022[7] - Share-based compensation expenses for Q3 2023 were RMB 1,469,819, a decrease of 21.2% from RMB 1,864,882 in Q3 2022[42] Cash and Assets - Cash, cash equivalents, and short-term investments reached RMB 202.8 billion (US$ 27.8 billion) as of September 30, 2023, up from RMB 149.4 billion as of December 31, 2022[13] - Total current assets rose to RMB 271,575.8 million (US$ 37,222.6 million) from RMB 216,617.9 million as of December 31, 2022[31] - Cash and cash equivalents increased to RMB 54,939.8 million (US$ 7,530.1 million) from RMB 34,326.2 million as of December 31, 2022[31] - Net cash generated from operating activities was RMB 32,537.9 million (US$ 4,459.7 million) for the quarter, compared to RMB 11,651.8 million in the same quarter of 2022[35] Strategic Focus - The company plans to continue investing in technology and R&D to support its high-quality development strategy[24] - The company continues to focus on market expansion and new product development as part of its growth strategy[42]