拼多多，最新财报发布！

Core Insights - Pinduoduo reported Q3 2025 revenue of 108.3 billion yuan, a 9% year-on-year increase, and adjusted net profit of 31.38 billion yuan, up 14% year-on-year [2] - The company continues to invest heavily in its "100 billion support" initiative, which may impact future performance [2] - The international environment is becoming increasingly complex, presenting challenges and uncertainties for the company [2] Financial Performance - Q3 revenue reached 108.3 billion yuan, reflecting a 9% increase compared to the same period last year [2] - Adjusted net profit for the quarter was 31.38 billion yuan, marking a 14% year-on-year growth [2] Strategic Initiatives - The "100 billion support" initiative is aimed at enhancing ecosystem development and providing financial relief to merchants [2][4] - Pinduoduo's agricultural initiatives have led to a 47% increase in agricultural product sales in the first half of the year [4] - The company has allocated 10 billion yuan in subsidies and 20 billion yuan in traffic resources to support agricultural products during the harvest season [4] Industry Impact - Pinduoduo's support for agricultural e-commerce is driving significant growth in the number of agricultural merchants, particularly among younger generations [4][5] - The company is actively promoting the transformation of traditional industries through its "new quality supply" initiative, which has led to the emergence of new brands and products [7][8] - The platform's efforts have resulted in a 31% increase in the number of "95 post-90s" merchants and a 44% increase in "00 post-00s" merchants [8]