Double 11 crazy day just ended, pinduoduo announced the third quarter of 2020 results. The latest results show that pinduoduo ushered in its first profit quarter. Affected by the news, pinduoduo rose more than 23%. Subsequently, the U.S. stock market opened, the Dow opened 170 points lower, pinduoduo rose 23% against the trend. As of press release, pinduoduo rose 21.06% with a total market value of $161.6 billion; JD rose by more than 8% with a total market value of $140 billion; Ali rose slightly, with a total market value of $717 billion. According to

‘s earnings report, as of the end of September, the number of active buyers in many years of the platform was 731 million 300 thousand (by the end of 2019, the total population of Chinese mainland was 1 billion 405 million), an increase of 36% over the same period last year, and a strong 195 million increase in the year. Among them, the third quarter increased by 48.1 million. < / P > < p > among them, in the third quarter, the average monthly active users of pinduoduo app reached 643.4 million, an increase of 50% over the same period of last year, and a sharp rise of 74.6 million in a single quarter. The revenue in the third quarter exceeded 14.2 billion yuan, up 89% year on year. Under non-GAAP, pinduoduo’s net profit was 466.4 million yuan, making it a quarterly profit for the first time. < / P > < p > recently, Goldman Sachs quoted a report from quest mobile, a data firm, that the total user time of pinduoduo app reached 531 billion minutes in the third quarter, an increase of 101% over the same period last year. In the third quarter, the use time of pinduoduo users accounted for 41% of the total users’ time of all e-commerce service platforms in China, a significant increase of 7% compared with 34% in the second quarter. Compared with the financial report of the third quarter, the sales cost increased by 46% P > compared with that in the third quarter. This shows that pinduoduo is not only “burning money”, but also increasing its efforts, equivalent to “burning” more than 100 million yuan a day. < / P > < p > in return, the average monthly live users of pinduoduo app in the third quarter reached 643.4 million, an increase of 213.8 million year-on-year, and a sharp rise of 74.6 million in a single quarter. < / P > < p > according to the first quarter report, the annual expenditure per active buyer of pinduoduo was RMB 1842.4 as of March 31, 2020; the annual expenditure of each active buyer of pinduoduo was RMB 1857.0 during the 12 months as of June 30, 2020; according to the quarterly financial report, each active buyer of pinduoduo had annual expenditure of RMB 1857.0 during the 12 months as of September 30, 2020 The buyer’s annual expenditure is RMB 1993.1. < / P > < p > on November 10, a comparison list of pinduoduo’s digital home appliances platforms was exposed on the Internet. The highest subsidy price can be nearly 1000 yuan lower than other platforms and nearly 700 yuan lower than other platforms, which “reaps” the favor of a large number of consumers. < p > < p > as of press release, the man behind pinduoduo, Huang Zheng, the founder, has also risen by 8.8 billion U.S. dollars, or about 59 billion yuan, ranking 24th in the Forbes Global rich list. Yesterday, Huang Zheng just became the 30th richest billionaire in the world because of the 8% rise in pinduoduo’s share price. *** This is closely related to the soaring share price of pinduoduo. In 2020 alone, pinduoduo’s share price soared from about $30 to $132, up more than 300%. Privacy Policy