PDD(US:PDD) Zhong Jin Zai Xian·2025-08-25 10:55Core Viewpoint - Pinduoduo's Q2 2025 financial report shows a revenue growth slowdown to 7%, with quarterly revenue reaching 104 billion yuan, attributed to increased investment in high-quality development and the launch of the "trillion support" strategy to assist merchants [1] Group 1: Financial Performance - Pinduoduo's revenue for Q2 2025 was 104 billion yuan, reflecting a 7% growth rate [1] - The company has increased its investment in high-quality development, impacting short-term performance but aiming for long-term value [1] Group 2: Merchant Support Initiatives - The "trillion support" strategy was introduced to help merchants navigate challenges, building on the previous "billion reduction" initiative [1] - Over the past year, the "billion reduction" policy has saved millions of merchants significant operational costs, with promotional service fee refunds exceeding 10 billion yuan [2] Group 3: Regional Economic Impact - Pinduoduo's "e-commerce westward" initiative has eliminated logistics transfer fees in western regions, leading to over 40% growth in order volume in these areas [2] - The initiative has significantly increased the availability of various products in western regions, enhancing local consumers' quality of life [5] Group 4: Agricultural Development - The "2025 Multi-Quality Specialty Products" initiative has facilitated the entry of agricultural products into urban markets, with sales of agricultural products increasing by 47% year-on-year [7] - Pinduoduo's support has enabled local farmers to innovate and create new products, such as the "internet celebrity" potato chips from Yunnan, benefiting over 11,000 farmers [7] Group 5: Industry Transformation - Pinduoduo is focusing on upgrading traditional industries by providing targeted support to merchants in various sectors, enhancing product development success rates [9] - The company is also collaborating with traditional brands to adapt to market changes, helping them find new growth opportunities [9] Group 6: Research and Development - Pinduoduo has increased investment in agricultural research, hosting the "Multi-Research Technology Competition" to explore advanced agricultural technologies [11] - The company aims to enhance user experience and merchant services while promoting industry upgrades through its "trillion support" strategy [11]