Pinduoduo generates profit while continuing strong growth
Pinduoduo generated revenue of CNY 23.05B in Q2 2021 (+89% YoY). Net income in the quarter was CNY 2,414.6M (USD 374.0M), compared with a net loss of CNY 899.3M in the same quarter of 2020. In the past 12 months (as of June 30, 2021), the number of active buyers of the Pinduoduo platform was 849.9 million. In the first half of the year, the number of agricultural enterprises on the platform increased by 180% year-on-year. Research and development expenditure in the quarter was CNY 1.8B, up 39% year-on-year.
This briefing is contributed by and first appeared on CIMK.
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