Blue whale TMT reporter made statistics on the core indicators of the “three giants” of e-commerce in the third quarter of this year, such as revenue, net profit, and number of active users, trying to find out the trend revealed behind the financial reports through comparative analysis. < / P > < p > on the whole, the revenue of the three companies has maintained a stable growth, of which, Jingdong’s revenue scale is still the first, and its scale with Alibaba is more than 100 billion yuan, while pinduoduo’s revenue is more than 10 billion yuan for two consecutive quarters; in the third quarter of 2020, Ali, Jingdong and pinduoduo accumulated revenue of 343.47 billion yuan. Under the non generally accepted accounting standards, the net profit of the three increased significantly, and the accumulated net profit reached 53.15 billion yuan. Among them, pinduoduo got out of the “strategic loss” situation for the first time and realized quarterly profit. < p > < p > in addition, in terms of active users, Alibaba still keeps ahead, but the growth rate is weak. Pinduoduo and Jingdong ranked second and third respectively. However, the number of pinduoduo users has exceeded 700 million, which is close to Ali. Industry analysts said that if you follow this growth rate, pinduoduo’s user scale is likely to catch up with or surpass Alibaba in the next quarter. As one of the factors to judge the scale of the platform, the operating income has always been the focus of investors. Judging from the revenue performance of the three e-commerce platforms, Jingdong’s revenue remains the first, and the revenue scale of Ali and Jingdong, two traditional e-commerce giants, has been standing at more than 100 billion yuan, which has always been far higher than that of other e-commerce platforms. Since this year, the growth rates of the two e-commerce platforms in each quarter are basically the same, and the growth rate of revenue in the third quarter is about 30%. < p > < p > in comparison, the quarterly revenue of pinduoduo, a new e-commerce giant, is less than one tenth of that of Alibaba and JD. However, it has exceeded 10 billion for two consecutive quarters. Although its single quarter revenue volume is not enough to compete with Alibaba and jd.com, since this year, the quarterly revenue growth of pinduoduo has increased significantly, and the revenue growth rate of each quarter is far ahead, about 2-3 times of that of Ali and JD in the same period. Specifically, Alibaba’s performance in the second quarter of fiscal year 2021 (Q3 in 2020) shows that the group’s revenue has reached 155.059 billion yuan in the three months ending September 30, 2020, with a year-on-year increase of 30% and a slight increase of 0.85% month on month. Ali said revenue growth in the quarter was mainly driven by strong revenue growth in China’s retail business, cloud computing and rookies. From the perspective of revenue structure, as of September 30, Ali’s core business revenue was 130.922 billion yuan, up 28% year-on-year, accounting for 67% of the total revenue; cloud computing business income was 14.899 billion yuan, up 60% year-on-year, accounting for 10% of the total revenue; digital media and entertainment revenue was 8.066 billion yuan, with a year-on-year growth of 8%; innovation business and other 1.172 billion yuan, with a year-on-year growth of 10%. In the third quarter of 2020, JD achieved a net income of 174.2 billion yuan, a year-on-year increase of 29.2%, with a decrease in the month on month basis, and its revenue scale ranked first among the three e-commerce giants. In the current period, the net income from the sales of general merchandise was 58.1 billion yuan, with a year-on-year increase of 34.8%; the net income from services was 22.8 billion yuan, up 42.7% year-on-year, accounting for more than 13% of the total net income for the first time. In the same period, pinduoduo achieved revenue of about 14.21 billion yuan, up 89% year-on-year and 16.54% month on month. In the first 12 months to the end of September this year, Gmv reached 1457.6 billion yuan, a year-on-year increase of 73%. Pinduoduo explained that Gmv’s growth was driven by the number of active buyers on the platform and the average consumption. According to Mo daiqing, director of the online retail department and senior analyst of the ecommerce Research Center, Alibaba’s revenue driven business relies heavily on the retail e-commerce business, including tmall, Taobao, juhuasuan, Taobao’s special price edition and HEMA, etc. This makes the advantages of this business more obvious than other business sectors, and Ali will invest more in it. In addition to this business sector, Ali will continue to develop and cultivate other sectors. As for pinduoduo’s revenue performance, she pointed out that pinduoduo’s revenue growth rate has returned to a high point, and the core indicators of financial report performance also show that pinduoduo’s subsidy effect of 10 billion yuan has become more and more significant; in addition, consumers’ pursuit of high cost performance and quality has made the post-80s and even the Post-70s shift to pinduoduo, and the attraction and transformation of young groups have greatly increased the revenue Growth stimulates. Cao Lei, director of ecommerce Research Center, believes that pinduoduo’s “10 billion subsidy” marketing and price strategy can help consumers attract more than 700 million users, and also attract a large number of entrepreneurs, businesses, manufacturers, brands and government industries to share the growth of new e-commerce platform and the “10 billion subsidy” market dividend, so revenue can grow rapidly Reasonable. < p > < p > in terms of profit, under non GAAP, the net profit of Alibaba Q3 increased by 44% to 47.088 billion yuan year-on-year, and its profit scale remained the first and kept the leading position. Over the same period, the net profit of JD non GAAP increased by 80.1% to 5.6 billion yuan year-on-year. Although the profit scale was not comparable to that of Ali, the profit growth rate was about twice that of Ali. Pinduoduo achieved quarterly profit for the first time in Q3, with a net profit of 466 million yuan under non-GAAP. < p > < p > according to the financial report released by Alibaba, in the third quarter of 2020, the net profit attributable to Alibaba’s common shareholders was 28.769 billion yuan, a year-on-year decline. The main reasons were the one-time significant income recognized when the 33% shares of ant group were obtained in the quarter of September last year, and the equity incentive expenses related to ant group and granted to the employees of the group increased. Without taking into account the one-off income, equity incentive expenses and other items, the non GAAP net profit increased by 44% to 47.088 billion yuan. In the same period, the net profit attributable to the common shareholders of Jingdong group was 7.6 billion yuan, a year-on-year increase of 1166.7%, and that of the same period last year was 600 million yuan. In the third quarter of 2020, the net profit attributable to common shareholders of JD under non GAAP was 5.6 billion yuan, an increase of 80.1% compared with 3.1 billion yuan in the same period of last year. In the third quarter of 2020, the operating profit of Jingdong group was 4.4 billion yuan, down 12% year-on-year, and 5 billion yuan in the same period last year; the operating profit under non GAAP was 5.3 billion yuan, up 76.7% year-on-year, and 3 billion yuan in the same period last year. Meanwhile, non GAAP operating profit margin was 3.0%, compared with 2.2% in the same period last year. < p > < p > by contrast, pindor has handed over its report card of “making profits in the first quarter” to investors. According to non-GAAP, the net profit attributable to common shareholders was 466 million yuan, which turned the loss over the same period last year, and the net loss was 1.66 billion yuan in the same period of last year. This means that Chen Lei, who took over the post of CEO of the company from July 1, perfectly took over, leading the company to its first profit quarter. According to Mo daiqing, this profit is of great significance to pinduoduo. Pinduoduo had been in a “strategic loss” before, and its profitability proved its “profitability”. The improvement of its liquidity, the growth of user scale, the success of business model innovation and so on make this profit an expected thing. It is also important for pinduoduo to keep the profit momentum in the future. According to Chen Hudong, a special researcher at the e-commerce research center of www.pinduoduo.com, the first profit of pinduoduo after its listing is mainly to the supply side. The related products in the agricultural product market have gradually been recognized by the consumer market. The low-cost and high-quality characteristics of agricultural products also reduce the operating costs of pinduoduo to some extent, making it more likely to make profits And future imagination space. < / P > < p > in terms of active users, Alibaba maintains the lead with 757 million annual active consumers and 881 million monthly active users, but the growth rate further slows down. At present, pinduoduo, the e-commerce platform with the second largest number of active users, has exceeded 700 million annually, and the gap with Alibaba is less than 30 million. In the past year, the number of active users of JD was 442 million, maintaining a year-on-year growth rate of 32.1%, a new high in the past three years. According to Ali, in the 12 months ending September 30, 2020, the annual number of active consumers in China’s retail market reached 757 million, an increase of 15 million compared with the previous quarter, a year-on-year increase of 9.24%; while the monthly active users of China’s retail market reached 881 million, with a net growth of 7 million in a single quarter, approaching the 900 million mark, but the growth rate was the lowest in three years. < / P > < p > it is worth mentioning that although the number of active users in Alibaba is still ahead, from the perspective of the growth rate of active users, Alibaba has slowed down for three consecutive quarters. In this regard, Liu Junbin, associate professor of the school of economics and management of Hainan Vocational and technical college, said that on the one hand, this shows the bottleneck problems commonly encountered by e-commerce platforms in the post consumer bonus era; on the other hand, it also shows that the maturity, identity and customer price of online consumers are increasing, which is in line with the national conditions of China’s pursuit of a better life. According to the financial report released by jd.com, as of September 30, 2020, the number of active purchasing users of JD in the past 12 months has reached 442 million, with a year-on-year increase of 32.1%. The growth rate is the highest in the past three years. Since the third quarter of last year, the platform has net increased more than 100 million active users. Among them, nearly 80% of the new active users come from the sinking emerging markets. < p > < p > as a new e-commerce giant, pinduoduo’s annual number of active buyers has reached 733.3 million, an increase of 36% over the same period of last year; the average annual consumption of single user has further increased to 1993.1 yuan, with a year-on-year increase of 27%. Meanwhile, in the third quarter, the average monthly number of live users of pinduoduo app reached 643.4 million, an increase of 74.6 million in a single quarter, an increase of 50% over the same period last year. From January to September this year, pinduoduo net increased the number of active buyers to 146.1 million. In terms of customer loyalty and customer satisfaction, it is a good thing to increase the number of customers and maintain customer satisfaction. In Mo daiqing’s opinion, pinduoduo’s scale of users has exceeded 700 million, which also reflects the increasing stickiness of users, and has made great efforts in both stock and new user mining. If you follow this growth rate, pinduoduo’s user scale is likely to catch up with or surpass Ali in the next quarter. Global Tech

By ibmwl