Pinduoduo CEO Chen Lei: the company is still in the "investment period"

According to CTOnews.com news on March 20, pinduoduo today released its financial results for the fourth quarter and full year of 2022 as of December 31. According to the financial report, pinduoduo's total revenue for the whole of 2022 was 130.5576 billion yuan, an increase of 39 percent compared with 2021. The net profit attributed to pinduoduo's common shareholders was 31.5381 billion yuan, an increase of 306 per cent compared with 2021. Excluding Non-GAAP, the net profit attributable to pinduoduo's common shareholders was 39.5297 billion yuan, an increase of 186 per cent compared with 2021.

"in the fourth quarter, we saw the return and release of consumer demand," Chen Lei, chairman and CEO of pinduoduo Group, said in a conference call after the release of pinduoduo's financial report. "We have increased the benefits of platform subsidies and are glad to contribute to the platform in boosting consumer confidence. We will continue to invest to better meet consumers' dual expectations of quality and price."

CTOnews.com noted that after the earnings release, the share price fell rapidly before the trading, falling by more than 16% at one point.

What is noteworthy is that recently, JD.com has also launched a subsidy of 10 billion yuan. However, unlike previous time-limited activities, JD.com intends to make 10 billion yuan in subsidies into a regular part of the platform.