Consumer Staples May 27, 2021 11:06 PM (GMT+8) · EqualOcean
Pinduoduo's Q1 2021 revenue was a total of CNY 22.17B (+239% YoY). With this, Pinduoduo has exceeded market expectations of CNY 19.714B. The net loss has also decreased and is now 1.89 billion yuan (decrease of 67% YoY). Pinduoduo's revenue growth is mainly due to the growth of online marketing technology services revenue. The online marketing technical service revenue of the Pinduoduo platform in the first quarter was 14.1115 billion yuan (+157% YoY). Although the net loss decreased YoY, Pinduoduo's marketing expenses remained high. Due to the continuous increase of subsidies and coverage for high-value goods, sales and marketing expenses amounted to 12.997.4 billion yuan (+78% YoY). The number of active buyers now amounted to 823.8 million reached. This briefing is contributed by CIMK.

Source: CIMK

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