Pinduoduo made a net profit of tens of billions in the third quarter: Our consumer-centric rule makes simple profits not a priority goal
Last night, Pinduoduo released its financial report for the third quarter of 2022, with total revenue of 35.5043 billion yuan, a year-on-year increase of 65%.The net profit attributable to Pinduoduo’s ordinary shareholders was 10.5886 billion yuan, a year-on-year increase of 546%.Non-GAAP net profit was 12.45 billion yuan, a year-on-year increase of 295%.
After the financial report was released, Pinduoduo CEO Chen Lei and Vice President of Finance Liu Jun attended the subsequent financial report conference call to interpret the main points of the financial report and answer questions from analysts.
In response to the recent overall trend of the e-commerce industry, Chen Lei said: “As for the industry trend, our own thinking is always based on the fundamental needs of consumers. In fact, we hope that every day of the year can continue to serve Consumers create value, and industry development is also the driving force for our own development. We also fully understand that optimizing consumers and deepening consumers’ trust in us is a process that takes time and develops gradually.”
When responding to the company’s performance during the Double Eleven promotion period, Chen Lei said, “Whether it’s the shopping festival or various promotional activities, it’s just one of the many ways we serve consumers well. How affordable and fun shopping experience you can get online, so when we plan this kind of shopping festival activities, we alsoConsumer-centric, through simple rules, so that consumers can enjoy the fun of shopping.”
Liu Jun said,Pinduoduo’s business is still in the development stage, and profitability is not a priority goal. The company will continue to increase investment.