Core Viewpoint - Pinduoduo is actively expanding its short drama business, evidenced by a recent job posting for a "Short Drama Production Operations" position with an annual salary of nearly 500,000 yuan, indicating a strategic focus on content creation and user engagement [1] Group 1: Recruitment and Job Role - Pinduoduo is hiring for a "Short Drama Production Operations" role, emphasizing the need for candidates to have a keen insight into short drama trends and user demands [1] - The job responsibilities include topic planning, script writing, filming, and post-production, highlighting the company's commitment to high-quality content creation [1] Group 2: Business Initiatives - In February, Pinduoduo launched the "New Version of Duoduo Has Good Dramas" policy, followed by the "2025 Short Drama Co-Creation Plan" in July, which includes incentives like revenue sharing and open themes [1] - The company has applied for multiple trademarks related to short dramas, including "Duoduo Theater" and "Duoduo Has Good Dramas," indicating a strategic move to solidify its presence in the entertainment sector [6] Group 3: Market Position and Historical Context - Pinduoduo is not a newcomer in the short drama field; it has been proactive since 2019 by inviting various short video MCN organizations to enhance content diversity [8] - The company has prioritized short dramas within its business model, establishing it as an independent channel alongside live streaming and recommendations as of April 2024 [8]

Group 1 - The core viewpoint of the article is the shift from "extreme consumer protection" to "balanced governance" in the e-commerce industry, particularly regarding the cancellation of the "only refund" policy, which primarily affects the "wool party" rather than consumers or merchants [1][2][3] - The "only refund" policy was initially introduced by JD.com in 2014 to enhance operational efficiency, but it was later adopted by Pinduoduo as a competitive strategy, leading to significant market changes [1][2] - Pinduoduo's aggressive consumer-oriented strategies, including the "only refund" policy, contributed to its rapid growth and intensified competition within the industry, prompting other platforms to adopt similar low-price strategies [1][2][4] Group 2 - The cancellation of the "only refund" policy is seen as a correction in the industry, allowing e-commerce platforms to compete based on their overall capabilities rather than solely on price [2][3] - Pinduoduo faces a critical challenge in maintaining growth without relying on extreme low prices and refunds, raising questions about its core competitive advantages [2][3][4] - The shift in strategy reflects a broader industry trend towards rational competition, moving away from service-based competition to a focus on fundamental business principles [2][3] Group 3 - Pinduoduo's recent initiatives, such as content-driven strategies and support for industrial supply chains, indicate a shift towards enhancing its value proposition beyond low prices [5][6][10] - The platform's focus on content creation and storytelling around industrial supply chains aims to improve user engagement and differentiate its offerings from competitors like Douyin [5][6][8] - Despite these efforts, Pinduoduo's content-driven approach has not yet achieved the expected conversion rates compared to traditional e-commerce platforms [7][8] Group 4 - Pinduoduo's reliance on low-price strategies has led to increased operational costs for small and medium-sized merchants, highlighting the tension between the platform and its merchants [4][13] - The platform's attempts to support industrial supply chains and enhance brand value are essential for its long-term sustainability, but they require significant investment and time [10][11][17] - Recent financial reports indicate a slowdown in revenue growth and profitability, raising concerns about Pinduoduo's ability to maintain its market position amid increasing competition [17][18][22]