PDD(US:PDD) 中国基金报·2025-11-18 11:12Core Viewpoint - Pinduoduo's Q3 2025 financial report shows a 9% revenue growth, reaching 108.3 billion yuan, driven by the "100 Billion Support" initiative aimed at enhancing the ecosystem and benefiting consumers and merchants alike [1][4]. Group 1: Financial Performance - Pinduoduo's revenue for Q3 2025 was 108.3 billion yuan, marking a 9% increase year-on-year [1]. - The company emphasizes its commitment to long-term value creation and social responsibility as it celebrates its ten-year anniversary [2]. Group 2: Strategic Initiatives - The "100 Billion Support" initiative has been pivotal in enhancing agricultural research and development, leading to a 47% year-on-year increase in agricultural product sales [4]. - Pinduoduo has launched various programs such as "Duoduo Good Specialty" and "New Quality Supply" to promote high-quality development within its ecosystem [4][7]. Group 3: Agricultural Focus - The company has invested significantly in agricultural e-commerce, providing 1 billion yuan in subsidies and 2 billion yuan in traffic resources to support local farmers during the harvest season [4]. - Pinduoduo's initiatives have helped local farmers, such as those in Shandong, to successfully market their products through e-commerce, significantly increasing sales [5]. Group 4: Industry Transformation - Pinduoduo's "New Quality Supply" initiative has facilitated the transformation of various industrial clusters, helping them shift from OEM to brand-focused models [9]. - The platform's data-driven approach has enabled local businesses to innovate and develop popular brands, enhancing their market competitiveness [9][11]. Group 5: Future Outlook - Pinduoduo aims to continue its focus on consumer value and high-quality development as it enters its next decade, aspiring to combine elements of "Costco" and "Disney" in its business model [6][11].