PDD Q1 profit slows down again: unafraid of short-term sacrifices, steadfast in long-term investment without wavering
On May 27th, PDD released its latest financial report. In the first quarter, PDD continued to focus on high-quality development, reinvesting real money into the industrial ecosystem, which also led to a significant year-on-year decline in profits for this quarter. Recently, PDD also launched the "100 Billion Support" new strategy to benefit businesses, continuing to upgrade its support for merchants and industries. PDD Group Chairman and Co-CEO Chen Lei stated that the current market environment is changing rapidly, and the platform must fulfill its social responsibility as a business, not fearing short-term sacrifices, and firmly making long-term investments to help merchants navigate through cycles
According to Zhitong Finance APP, on May 27th, Pinduoduo (PDD.US) released its latest financial report. In the first quarter, Pinduoduo continued to focus on high-quality development, reinvesting real money into the industrial ecosystem, which also led to a significant year-on-year decline in profits for this quarter.
Recently, Pinduoduo also launched a new strategy called "Hundred Billion Support" to benefit businesses, continuing to upgrade its support for merchants and industries. Pinduoduo Group Chairman and Co-CEO Chen Lei stated that the current market environment is changing rapidly, and the platform must fulfill its social responsibility as a business, not fearing short-term sacrifices, and firmly making long-term investments to help merchants navigate through cycles
