Capital, Earnings & M&A
Chinese E-commerce 'Pinning' Its Way Overseas
In the era of global recovery, with the rise of e-commerce for all, Pinduoduo has emerged victorious. On November 28, Pinduoduo Group released its third-quarter earnings report, showing revenue of 68.84 billion yuan, a year-on-year increase of 93.9%, and net profit of 15.54 billion yuan, with a net profit margin of 22.6%. Following the report, Pinduoduo's US-listed shares surged over 18% at the open, reaching a high of $139.93 per share, and closing at $139, with a market value of $184.7 billion, approaching the $200 billion mark. Pinduoduo's success is hard-won through real competition.
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