拼多多：2Q earnings beat; investment opportunities arise with overreaction on softened outlook

27 Aug 2024 PDD Holdings (PDD US) 27 Aug 2024 PLEASE READ THE ANALYST CERTIFICATION AND IMPORTANT DISCLOSURES ON LAST PAGE 2 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |---------------------------------------|-------|-----------------|-------|-------|-------------------|-------|-------------|----------------|---------| | RMB bn | 2024E | Current 2025E | 2026E | 2024E | Consensus 2025E | 2026E | 2024E | Diff (%) 2025E | 2026E | | Revenue 413.0 544.5 678.3 | | | | 419.9 | 551.9 | | 678.9 -1 ...