PDD Holdings Inc. American Depositary Shares - PDD STOCK NEWS

Pinduoduo reported a remarkable fourth-quarter revenue increase of 146%, reaching RMB 26,547.7 million ($4,068.6 billion), surpassing analyst expectations. The company aims to transform into the world’s largest grocery platform by developing an agriculture-focused logistics infrastructure to reduce waste and costs while speeding up deliveries. With 788.4 million active buyers, Pinduoduo also emphasizes enhancing digital inclusion for rural communities and investing in agricultural technology, aiming to bolster the resilience of China's food supply chain.

Pinduoduo Inc. reported its fourth quarter and full year 2020 financial results, showing a significant growth trajectory. For Q4 2020, total revenues reached RMB26.55 billion (US$4.07 billion), a 146% increase year-over-year. Annual revenues for 2020 surged to RMB59.49 billion (US$9.12 billion), up 97% from 2019. Monthly active users improved by 50% to 719.9 million, while active buyers rose by 35% to 788.4 million. Despite an operating loss of RMB2.05 billion (US$0.31 billion) in Q4, net cash from operations totaled RMB14.95 billion (US$2.29 billion), indicating strong operational cash flow.

Pinduoduo announced the resignation of founder Colin Huang from the board as he focuses on research in food and life sciences. Chen Lei succeeds Huang as Chairman while continuing as CEO. Huang will not sell his shares for three years and his special voting rights have been removed. Pinduoduo, the largest agriculture platform in China, has doubled its value of agriculture-related orders to over 270 billion yuan ($42 billion) amid the pandemic. Huang emphasized the need for deeper research and technology to ensure sustainable growth and encouraged new leadership to guide the company.

Pinduoduo, China's leading agriculture platform, is enhancing digital inclusion for rural communities, according to CEO Chen Lei. The pandemic prompted innovations in agriculture e-commerce and livestreaming, enabling farmers to reach consumers directly. The company has trained over 100,000 'New Farmers' in e-commerce, with a goal to train an additional 100,000. Recognized by the government for its poverty alleviation efforts, Pinduoduo serves over 12 million farmers and 788 million customers in China. The company's initiatives aim to improve market access and logistics in the agricultural sector.

Pinduoduo Inc. (NASDAQ: PDD) will announce its fourth quarter and fiscal year 2020 financial results on March 17, 2021, before U.S. markets open. The management team will host an earnings conference call at 7:30 AM EST on the same day. Investors can pre-register for the conference call and a replay will be available until March 25, 2021. Pinduoduo connects agricultural producers with consumers in China, focusing on enhancing digital market opportunities for local communities.

Pinduoduo Inc. (NASDAQ: PDD) will release its unaudited financial results for Q4 2020 on March 17, 2021, before U.S. markets open. Management will conduct an earnings conference call at 7:30 AM ET on the same day.

Pre-registration is required to participate in the call, and dial-in details will be provided post-registration. A replay will be available until March 25, 2021. Pinduoduo connects agricultural producers with consumers in China, focusing on digital economic integration for local communities.

Pinduoduo Inc. (NASDAQ: PDD), China's leading agriculture platform, reported a significant increase in agricultural orders, reaching over 270 billion yuan ($42 billion) in 2020, up from 136 billion yuan in 2019. The surge was driven by the pandemic, which prompted consumers to shift towards online grocery shopping. The company connected over 12 million farmers with 731 million consumers, emphasizing its role in enhancing food supply chain efficiency. Pinduoduo raised $6.1 billion in late 2020 for strategic investments, including logistics infrastructure and agri-food technology development.

Pinduoduo has enhanced consumer convenience during Lunar New Year by partnering with logistics providers to ensure order dispatch despite the public holiday, starting Feb. 11. China Post and courier services have mobilized a million couriers, anticipating parcel volumes to double compared to last year. Online retail sales surged past 510 billion yuan ($79 billion) during the festive period, with online food and beverage sales up 40%. Consumers are increasingly purchasing regional delicacies and essentials through Pinduoduo, driving sales across various categories.