Core Viewpoint - Pinduoduo's net profit declined in Q2 due to intense competition in the e-commerce sector and increased support for merchants, but results were significantly better than market expectations. The management emphasized a commitment to long-term value creation over short-term profits [1][4]. Financial Performance - In Q2, Pinduoduo achieved revenue of $37 billion, representing a year-on-year growth of 10% [8]. - Operating profit decreased by 21% year-on-year, reflecting the impact of substantial investments in merchant support and ecosystem development [4]. Strategic Initiatives - The company launched the "100 Billion Support Plan," which involves significant resource allocation to support the merchant ecosystem and explore new business models globally [4][5]. - Pinduoduo's initiatives have led to a 40% increase in order volume for remote areas, enhancing the quality of life for consumers in those regions [4]. Long-term Focus - Management reiterated the importance of long-term investments in ecosystem building and consumer experience, indicating that profitability may fluctuate as a result of these strategies [6][9]. - The company is prioritizing high-quality growth and is willing to sacrifice short-term profits for sustainable development [1][6].