PDD Holdings Announces Fourth Quarter 2024 and Fiscal Year 2024 Unaudited Financial Results

Core Insights - PDD Holdings reported strong financial results for Q4 2024 and the fiscal year 2024, highlighting a commitment to sustainable growth and innovation in the e-commerce ecosystem [3][5][14]. Financial Performance - Total revenues for Q4 2024 reached RMB 110,610.1 million (US$15,153.5 million), marking a 24$ 53,955.3 million), a significant increase of 59% from RMB 247,639.2 million in 2023 [14]. - Operating profit for Q4 2024 was RMB 25,592.2 million (US$3,506.1 million), up 14$ 3,760.2 million), an 18% increase from RMB 23,280.3 million in Q4 2023 [11][37]. Revenue Breakdown - Revenues from online marketing services and others in Q4 2024 were RMB 57,011.1 million (US$7,810.5 million), a 17$ 7,343.0 million), reflecting a 33% increase from RMB 40,205.4 million in Q4 2023 [8]. Cost and Expenses - Total costs of revenues for Q4 2024 were RMB 47,798.4 million (US$6,548.4 million), a 36$ 5,099.1 million), up 19% from RMB 31,407.8 million in Q4 2023, mainly driven by increased sales and marketing expenses [9][10]. Cash and Assets - As of December 31, 2024, cash, cash equivalents, and short-term investments totaled RMB 331.6 billion (US$45.4 billion), compared to RMB 217.2 billion as of December 31, 2023 [13]. - Total assets as of December 31, 2024, were RMB 505.0 billion (US$ 69.2 billion), reflecting significant growth from RMB 348.1 billion as of December 31, 2023 [32][33]. Earnings Per Share - Basic earnings per ADS for Q4 2024 were RMB 19.76 (US$2.71), compared to RMB 17.00 in Q4 2023 [12][21]. - Non-GAAP diluted earnings per ADS for Q4 2024 were RMB 20.15 (US$ 2.76), up from RMB 17.32 in Q4 2023 [12][42].