拼多多称未来利润波动仍将较大

Core Viewpoint - Pinduoduo reported a slowdown in revenue growth and a decline in adjusted net profit for Q2 2025, indicating potential volatility in future profits [1] Financial Performance - Pinduoduo's revenue for the second quarter reached 1039.85 billion yuan, reflecting a 7% year-over-year growth [1] - Adjusted net profit for the quarter was 327.08 billion yuan, a decrease of 5% compared to the previous year [1] - Adjusted earnings per ADS were 22.07 yuan, down from 23.24 yuan in the same period last year [1] Market Reaction - Following the earnings report, Pinduoduo's stock price initially rose over 10% in pre-market trading but later fell by 3.47%, settling at 122.7 USD per share [1] - The adjusted net profit exceeded market expectations of 223.9 billion yuan, indicating a significant improvement compared to the previous quarter's 45% year-over-year decline [1] Strategic Focus - Pinduoduo emphasized a shift towards investments that yield long-term returns, suggesting a strategic pivot in its operational focus [1] - The company does not anticipate that the current quarter's profit levels can be sustained in the future [1]