站在新起点，拼多多“再造一个自己”

Core Insights - Pinduoduo is entering its second decade with a strategic shift in governance and growth focus, moving from a domestic e-commerce platform to a global market orientation centered on the Chinese supply chain [1][8]. Governance and Leadership Changes - Pinduoduo announced the implementation of a co-chairman system, appointing Zhao Jiazhen and Chen Lei as co-chairmen and co-CEOs, indicating a significant governance restructuring aimed at enhancing strategic execution [1][9]. - The management believes that the new governance structure will help align organizational capabilities with the expanding business boundaries [9]. Strategic Growth Objectives - The management set a challenging goal to "recreate Pinduoduo" within the next three years, emphasizing a shift from mere scale replication to a focus on value creation in a competitive e-commerce landscape [3][4]. - Pinduoduo aims to pivot its growth strategy from traffic-driven models to industry-driven models, focusing on enhancing the Chinese supply chain as a core business development area [4][10]. Supply Chain Focus and Innovation - The company is committed to "All in Chinese Supply Chain," aiming to leverage its strengths in scale, efficiency, and cost while addressing challenges in global market competition [4][10]. - Pinduoduo is increasing support for brand and quality upgrades among merchants, utilizing data feedback to help factories better understand overseas consumer preferences [5][6]. Performance Metrics and Market Expansion - Pinduoduo reported that some businesses, such as eyewear companies, saw nearly a 50% increase in product prices and profit margins after brand and product positioning upgrades facilitated by the platform [5]. - The company has also seen a 47% year-on-year increase in sales of agricultural products, indicating successful initiatives in enhancing product quality and market reach [6]. International Market Challenges - Temu, Pinduoduo's international platform, has rapidly expanded, completing a significant growth trajectory in just three years, but faces more complex regulatory and market environments [2][7]. - The management acknowledges that maintaining growth will require adapting to diverse market standards and consumer preferences while embedding domestic operational capabilities into its cross-border business [7][8]. Industry Implications - Experts suggest that Pinduoduo's strategic shift towards a robust supply chain and compliance capabilities is essential for its success in global markets, marking a significant "second entrepreneurship" phase for the company [10][11].