PDD(US:PDD) Xin Lang Ke Ji·2025-11-18 16:02Core Insights - Pinduoduo reported Q3 2025 total revenue of 108.2765 billion yuan, a year-on-year increase of 9% [1] - Net profit attributable to ordinary shareholders was 29.3282 billion yuan, up 17% year-on-year; non-GAAP net profit was 31.3817 billion yuan, a 14% increase [1] Financial Performance - Total revenue for Q3 2025 reached 108.2765 billion yuan, reflecting a 9% growth compared to the previous year [1] - Net profit attributable to ordinary shareholders was 29.3282 billion yuan, marking a 17% increase year-on-year [1] - Non-GAAP net profit was reported at 31.3817 billion yuan, which is a 14% increase from the same period last year [1] Industry Trends - The online retail market is showing signs of recovery, with the industry year-on-year growth rate reaching its highest level in recent quarters [2] - The competition in the e-commerce sector is intensifying, with many players investing heavily in new business models [3][10] Strategic Initiatives - The company has launched the "100 Billion Support" initiative to enhance platform ecology and support merchants, aiming for high-quality development [3][4] - A merchant rights protection committee has been established to improve communication with merchants and enhance the after-sales service system [3] - The company is committed to long-term investments that may impact short-term revenue and profit sustainability [5][10] Globalization and Compliance - The company has been developing its global business for over three years, focusing on integrating into local markets and complying with regulations [6][7] - Significant resources are being allocated to ensure product compliance and enhance consumer safety on the platform [7] Future Outlook - The management anticipates fluctuations in financial performance in the coming quarters due to ongoing investments and competitive pressures [4][10] - The company aims to maintain a long-term perspective, prioritizing sustainable growth over short-term profits [10][11]