Pinduoduo Financial Report: In 2022, Pinduoduo's revenue was 130.6 billion yuan, a year-on-year increase of 39%

Recently, Pinduoduo Group released its fourth quarter and full year financial report for 2022 ending December 31.

According to the financial report, Pinduoduo Group's revenue in the fourth quarter of last year was 39.8 billion yuan, a year-on-year increase of 46%. The annual revenue was 130.6 billion yuan, a year-on-year increase of 39%.

2022 is the second year of Pinduoduo's strategic transformation from "focusing on marketing" to "focusing on research and development", and the company continues to increase its investment in technological innovation. The financial report shows that under US generally accepted accounting principles, Pinduoduo's research and development expenses for the whole year last year increased by 15% year-on-year, exceeding 10 billion yuan, a record high. Among them, the research and development expenses in the fourth quarter increased by 19% year-on-year to 2.4 billion yuan.

Chen Lei said, "We will continue to increase investment, improve our technological capabilities, bring the benefits of digitalization to our users and partners, help create more new growth points, and better serve the entire society."

From the "Duoduo Good Agricultural Products" and "Duoduo New Craftsmanship" series of activities throughout the year, to annual activities such as the "Super Agricultural Products Festival" and the "2023 New Year Products Festival", last year, Pinduoduo accelerated the promotion of quality products into cities and rural areas. Categories such as mobile phones, beauty, maternal and child products, and high-quality agricultural products saw significant growth, driving rapid growth in overall consumption.

As the largest agricultural product upstream platform in China, at the end of last year, in order to promote better and faster sales of unsold agricultural products, Pinduoduo launched the Warm Winter Action in more than 20 provinces across the country, and purchased a total of nearly 30 million kilograms of agricultural products, helping farmers to increase production and income.

Zikuai Technology