On the afternoon of October 8, Pinduoduo held an internal celebration for its fifth anniversary. At the event, Pinduoduo Chairman Huang Zheng delivered an internal speech, and CEO Chen Lei released an open letter to partners. For the future, Huang Zheng called on all Pinduoduo staff to "activate hardcore struggle mode," stating, "In such an environment, activating hardcore struggle mode is not empty talk." In his internal speech, Huang Zheng specifically addressed "Duoduo Maicai": "External media say that grocery buying is community group buying, and in the early stages it resembles some forms of community group buying, but we do not define this business that way. Although we were the originator of community group buying, we started with agricultural products. At the beginning of our entrepreneurship, we launched Pinduoduo Xiaozhan and proposed concepts such as community sites and front warehouses." The following is the full text of Pinduoduo Chairman Huang Zheng's annual meeting speech: Today, I will still give the anniversary speech. The past year has indeed been a magical year, with all sorts of magical things happening, and time has passed faster than usual. In the blink of an eye, a year has almost passed, and in the blink of an eye, Pinduoduo has already been around for five years. Along the way, we have experienced a lot, including being misunderstood and unrecognized, as well as heartwarming support, flowers, and applause. Together, we have created a small miracle, changing the landscape of Chinese e-commerce and even the Chinese internet. We pioneered the "group buying" product form, scaled up attempts to integrate fun and value into various products, and created and defined a new e-commerce model that fits the new era, characterized by inclusiveness, people-first, and openness. Through our persistence, we have greatly promoted the upward flow of Chinese agricultural products and helped thousands of impoverished families. We seized the opportunity of mobile transformation and, with extraordinary speed and courage, quickly became a mainstream platform supporting the daily lives of ordinary Chinese people. At five years old, Pinduoduo has become a company of the whole society, bearing significant social responsibility. Since the public health incident at the beginning of this year, many of our young colleagues have overcome many difficulties, working overtime during the Spring Festival and the rest period of the public health incident, providing epidemic prevention materials and daily necessities to all parts of the country, especially in affected areas. At the same time, we resolutely fought against fake masks and price gouging during this extraordinary period. In the first quarter, we paid a huge subsidy cost, but we can proudly say that we made our own contribution to the normal lives of hundreds of millions of families during the public health incident and to the thousands of frontline workers. These efforts have also been recognized by society and the government. Two days before National Day, we also received the Shanghai Anti-Epidemic Advanced Collective medal. As a company with only five years of history, this is undoubtedly something we can be proud of. Here, I propose that we give ourselves a round of applause! Over the past few months, you may have felt some adjustments in the company's organizational structure. We are particularly happy to see that among our thousands of employees, there are more people willing and able to fight than I imagined, rushing to the front lines of new businesses like Duoduo Maicai. External media say that grocery buying is community group buying, and in the early stages it resembles some forms of community group buying, but we do not define this business that way. Although we were the originator of community group buying, we started with agricultural products. At the beginning of our entrepreneurship, we launched Pinduoduo Xiaozhan and proposed concepts such as community sites and front warehouses. After these years, we have seen that it is still not easy for farmers to sell agricultural products upward, and the production and circulation of agricultural products still need improvement. Many resources are in short supply on one side while being idle on the other. As our upward volume of agricultural products continues to grow, our influence on the upstream and circulation fields is increasing. With the public health incident, consumers also have the need to order groceries online, so we decided to do grocery buying. Grocery buying is a good business, a tough business, a long-term business, and also the touchstone for us Pinduoduo people. This business is good because it highly aligns with our long-term commitment to agriculture. We are willing to make heavy investments, deep innovation, and solidly transform our traditional agriculture and change circulation. We should adapt to changes in consumer living habits, genuinely solve the daily life problems of ordinary people, let them get real benefits, and improve their quality of life. Whether we make money or not, it aligns with our core of "creating value for consumers." Grocery buying is a tough business; when others are sleeping, you are picking and delivering goods so that consumers can get fresh vegetables before they cook. People eat every day, so we have to deliver groceries every day. It is indeed difficult to go without sleep every day, and the hardship is obvious. It will become even harder in the future, because if you do a little better, attacks and slander from old forces in the industry and new competitive situations will come, and some consumers may not understand. After enduring hardship, you may find that your efforts are not appreciated, like a mute person tasting bitter medicine, unable to express the bitterness. Isn't that bitter? Because this business is tough, it is inevitably a long-term business, a full-force long-distance race over many years. It is impossible to gain immediate benefits, win instant praise, or have your hard work understood overnight. Currently, the world pattern and domestic situation are undergoing great changes, and the public health incident has accelerated these changes. Many things that people take for granted may no longer be the same. In such an environment, activating hardcore struggle mode is not empty talk. In big storms, we must unite and strive forward to avoid becoming a piece of broken wood shattered by the waves. This is not empty talk either. As everyone knows, the company's basic value is "benfen" (staying true to one's role). Benfen means first understanding your positioning, for whom you create what value, who you depend on to survive, and what your responsibilities are. The core existence of Pinduoduo is to create value for consumers, and tirelessly striving for "more value, more fun" for consumers is our benfen. Although we have experienced rapid development, Pinduoduo is still in the early stage of providing more value. Each of us here should take enough time to think about what stage we are at and what our main tasks are. We need to think it through ourselves and repeatedly clarify with our supervisors. This public health incident does not seem to end completely soon. To fight against it, the most fundamental thing is to improve our immunity and exercise. Exercise will inevitably cause muscle soreness, but only then will physical fitness and overall function improve. To live brilliantly during the public health incident, relying solely on bed rest is not enough, and hoping to resist the virus by walking in the breeze is also not enough. Our bodies are like this, and so are our minds. When the external environment changes drastically and various thoughts surge, it is easy for a person to fall into confusion of wanting everything but being unable to do anything. Thoughts become sluggish, aging prematurely, and affecting the physical state of the body. To be mentally healthy, young, and full of vitality, just like exercising the body, there must be a process of persisting through mental soreness and taking a step further. There is an old saying: "The sharp edge of a sword comes from grinding, and the fragrance of plum blossoms comes from the bitter cold." This saying is even more meaningful in today's situation. To survive, we must exercise both physically and mentally. Only through exercise can we have enough renewal and metabolism to live happily. So here I call on everyone to encourage each other, supervise each other, and exercise together. I will also exercise with you. The following is the full text of Pinduoduo CEO Chen Lei's open letter to partners: Dear partners: Pinduoduo has turned five years old. Thank you for your company along the way. In the history of the Chinese internet, five-year-old Pinduoduo is still a young person. Being young means that although we have the speed of development, our arms are still weak and our experience is not yet perfect. Therefore, since its inception, Pinduoduo has insisted on choosing a "more open" path, hoping to promote the opening of the industry through our own actions. Fortunately, more and more people have chosen to believe in and join us. In the past year, although a few platforms still tried to maintain the old pattern through high-pressure monopoly in some areas, from the overall perspective of Chinese business, as consumers increasingly want more choices rather than being trapped in a single system, a few big trees in the internet forest can no longer block all the sunlight. Many new enterprises like Pinduoduo are growing eagerly. The emergence and development of Pinduoduo benefit from the development and evolution of China's internet and retail industry, and from the determination and courage of Chinese enterprises to collectively break through monopoly blockades. With the trust and support of more partners, this young man, Pinduoduo, has been able to serve nearly 700 million consumers in five years and survive and iterate amid fierce business competition and era changes. I have always firmly believed that it is ordinary Chinese consumers who make enterprises successful, not a few large enterprises that use monopoly positions to transform consumers. Therefore, we hope to move forward with partners who stand with ordinary consumers, covering more consumer groups and meeting their daily needs. Over the past five years, more and more brands have joined Pinduoduo, jointly designing and manufacturing more cost-effective products for ordinary consumers; more and more industrial belt factories have gained traffic and spotlight on Pinduoduo, and Chinese consumers can proudly use Chinese brands; we have also worked with agricultural producers and logistics companies across the country to build a new logistics system for the upward flow of Chinese agricultural products, allowing farmers in the fields and white-collar workers in cities to stand side by side in the cloud. As mentioned earlier, five-year-old Pinduoduo is still imperfect, and there is inevitably a gap between aspirations and capabilities. The reason everyone believes in Pinduoduo and tolerates our imperfections is that they see the real changes happening in China today and see the figures of nearly 700 million consumers on the Pinduoduo platform living seriously. With the growth of the new generation of young people and the accumulation of China's industry, Chinese consumers will have the opportunity to use the internet to realize their aspirations for serious living. They have their own definitions of life, different pursuits for shopping, and expect more options for the future. Only by getting as close to consumers as possible, flying low, and understanding changes can enterprises have opportunities for survival and development. In the next stage, Pinduoduo will continue to strive to become an e-commerce platform that serves the daily lives of the broadest masses of Chinese people, continuing to create value for consumers in products, continuing to let consumers experience fun in the experience, observing and adapting to changes in the pace of life of ordinary Chinese people, and nurturing the development of new businesses and models. We will continue to invest in areas such as the billion-yuan subsidy, the new brand plan, the upward flow of agricultural products, and product iteration. We will continue to sail with all partners on the internet sea. For those friends who are willing to deeply serve consumers with us, Pinduoduo will also invest unlimited traffic, data, and technical support to jointly realize the value of enterprises and selves in the journey of serving consumers. Finally, thank you again for your attention and support to Pinduoduo! Welcome to continue riding this new e-commerce train. Let us create a more inclusive and open business form together and rush into the new era of Chinese business. Source: Xueqiu account Pinduoduo (PDD) Once the tip is adopted, a reward of 400-2000 yuan will be paid.