PDD Holdings Inc. American Depositary Shares - PDD STOCK NEWS

Pinduoduo Inc. (NASDAQ: PDD) filed its annual report on Form 20-F for the fiscal year ended December 31, 2021, with the SEC on April 25, 2022. The report includes audited consolidated financial statements accessible through the company's investor relations website and the SEC's website. Shareholders can request a hard copy of the report at no charge. Pinduoduo connects agricultural producers with consumers in China, promoting digital economy growth and market opportunities for local communities.

Pinduoduo, China's largest agriculture platform, reported a strong performance in 2021, connecting over 16 million farmers with 868.7 million buyers. The company witnessed a 59% increase in orders, totaling 61 billion.

Pinduoduo is committed to agricultural modernization, promoting smart farming technology and supporting young farmers. The firm has initiated a 10 Billion Agriculture Initiative to address critical agricultural needs and emphasizes long-term investments in R&D. Their strategy focuses on integrating technology into the agricultural sector to enhance productivity and market access for farmers.

Pinduoduo (PDD) reported robust financial growth for FY 2021, with total revenues reaching RMB93.95 billion, up 58% from 2020. In Q4 2021, revenues were RMB27.23 billion, a 3% increase year-over-year. Active buyers grew 10% to 868.7 million, while average spending per buyer rose 33% to RMB2,810. The company shifted focus to R&D and agriculture initiatives, contributing to a quarterly operating profit of RMB6.91 billion compared to a loss in Q4 2020. Notably, online marketing and transaction services surged, although merchandise sales plummeted by 98%. Net income saw a significant recovery from losses in the previous year.

Pinduoduo Inc. (NASDAQ: PDD) will release its unaudited financial results for Q4 and the fiscal year ended December 31, 2021, on March 21, 2022. The announcement will occur before U.S. markets open, followed by an earnings conference call at 7:30 AM ET. During this call, management will discuss the financial outcomes and future strategies, which will also be available via live webcast.

Pinduoduo connects agricultural producers with consumers in China, promoting digital economy growth and local community benefits.

Pinduoduo Inc. (NASDAQ: PDD) collaborates with the FAO to enhance food production through smart agriculture. A recent webinar featured experts from various agricultural institutions discussing the importance of technology in boosting food security. Pinduoduo, China's leading agricultural sales platform, aims to connect farmers with over 850 million consumers while promoting agritech through initiatives like the "10 Billion Agriculture Initiative". The company also hosts the annual Smart Agriculture Competition to foster innovation in agriculture, with final results expected soon.

Lightspeed China Partners announced the closing of two record fundraising rounds: Lightspeed China Partners V and Select II, each with $460M. This marks the largest fundraising in LCP's history. The funds will invest in early-stage and emerging growth sectors in China, focusing on green tech, deep tech, enterprise tech, health tech, and consumer industries. The oversubscription reflects strong backing from institutional partners across the U.S., Europe, and Asia, demonstrating investor confidence in sustainable innovation.

Pinduoduo (NASDAQ: PDD), China's largest agriculture platform, is set to promote young leaders to foster innovation and creativity. CEO Chen Lei highlighted the fast maturation of the younger generation, which will see more of them in critical roles within the next 6 to 12 months. The company reported Q3 revenue of 21.5 billion yuan ($3.3 billion) with 867.3 million active users. Chen emphasized a smooth leadership transition and continuous investments in agricultural technology for long-term sustainability.

Pinduoduo Inc. (NASDAQ: PDD), China's leading agriculture platform, announced a commitment to enhance investments in research and development (R&D) and agricultural technology in order to boost productivity and achieve sustainable growth. For Q3, the company reported 21.5 billion yuan ($3.3 billion) in revenue, with a user base reaching 867.3 million orders in the past year. Pinduoduo plans to allocate all Q3 profits to the '10 Billion Agriculture Initiative,' aimed at advancing agritech and nurturing young talent in the sector.

Pinduoduo reported a strong financial performance for Q3 2021 with total revenues of RMB21.51 billion (US$13.34 billion), marking a 51% year-over-year increase. Active buyers grew by 19% to 867.3 million, while average monthly users increased by 15% to 741.5 million. The company achieved an operating profit of RMB2.14 billion (US$332 million), recovering from a loss in the previous year. Net income reached RMB1.64 billion (US$254.5 million), a significant improvement from a net loss. Pinduoduo intends to reinvest profits into the '10 Billion Agriculture Initiative'.