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Pinduoduo's revenue of 130.5576 billion yuan in 2022 increased by 39% over the same period last year, and its net profit increased by 306%.

Shulou Source: shulou.com Published: 2023-11-24 15:38:34 10月02日 Update

CTOnews.com news on March 20, pinduoduo released unaudited financial results for the fourth quarter and the whole year ended December 31, 2022. CTOnews.com summarizes important data as follows.

The financial report shows that:

Pinduoduo's total revenue in the fourth quarter was 39.82 billion yuan ($5.7734 billion), an increase of 46% compared with 27.2309 billion yuan in the same period in 2021.

The net profit attributable to pinduoduo's common shareholders was 9.4537 billion yuan (US $1.3707 billion), an increase of 43% compared with 6.6195 billion yuan in the same period in 2021.

Without Non-GAAP, the net profit attributable to pinduoduo's common shareholders was 12.1058 billion yuan ($1.7552 billion), up 43% from 8.4444 billion yuan in the same period in 2021.

For the whole of 2022:

Pinduoduo's total revenue was 130.5576 billion yuan ($18.9291 billion), an increase of 39 percent compared with 93.9499 billion yuan in 2021.

The net profit attributable to pinduoduo's common shareholders was 31.5381 billion yuan ($4.5726 billion), an increase of 306% compared with the net profit of 7.7687 billion yuan in 2021.

Without Non-GAAP, the net profit attributable to pinduoduo's common shareholders was 39.5297 billion yuan ($5.7313 billion), up 186 per cent from 13.8295 billion yuan in 2021.

Chen Lei, chairman and chief executive officer of pinduoduo Group, said: "since last year, we have selected products, strictly controlled quality, pried 10 billion subsidies, tens of thousands of people and other platform resources, and increased the universal benefits of platform subsidies. I'm glad to make a contribution to boost consumer confidence. In the future, we will increase investment in expanding domestic demand and promoting consumption, and further improve the platform mechanism to better meet consumers' dual expectations for quality and price. "

According to the financial report, under the US general accounting standards, pinduoduo's research and development expenses for the whole of last year increased by 15% compared with the same period last year, and the amount exceeded 10 billion yuan, a record high. Among them, R & D expenditure in the fourth quarter increased by 19% over the same period last year, reaching 2.4 billion yuan.