Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizen Guangdong-Hong Kong-Macau Greater Bay Area for the clue delivery! According to CTOnews.com news on August 29, pinduoduo today released its financial results for the second quarter ending June 30, 2022.

According to the financial report, pinduoduo's income in the second quarter was 31.4396 billion yuan, an increase of 36 percent over the same period last year. The net profit was 8.896 billion yuan, and the market is expected to be 3.335 billion yuan, compared with 2.415 billion yuan in the same period last year. Under GAAP, marketing expenses for the quarter fell to 11.3434 billion yuan, or 36 per cent of revenue.

In addition, due to occasional factors such as passive delays in some projects and a sharp reduction in travel and business activities, pinduoduo's operating expenses fell from 57 per cent of revenue in the same period last year to 47 per cent in the current quarter, with operating expenses of 14.78 billion yuan in the second quarter.

Without Non-GAAP, the net profit belonging to pinduoduo's common shareholders was 10.7763 billion yuan ($1.6089 billion), up 161% from 4.1253 billion yuan in the same period last year.

At the same time, pinduoduo also stressed: the company has further increased its R & D, and R & D expenses in this quarter increased by 12% compared with the same period last year. Chen Lei, chairman and CEO of pinduoduo, said that market demand increased in the second quarter, and consumption continued to recover.

As of the press release of CTOnews.com, it rose sharply before the market, rising by more than 10% at one point.

Second-quarter results: total revenue was 31.4396 billion yuan ($4.6938 billion), up 36% from 23.0462 billion yuan in the same period last year.

Revenue from online marketing services and other businesses was 25.1727 billion yuan ($3.7582 billion), up 39 percent from 18.0804 billion yuan in the same period in 2021.

Revenue from trading services was 6.2162 billion yuan ($928.1 million), up 107 percent from 3.0076 billion yuan in the same period in 2021.

Revenue from commodity sales was 50.7 million yuan ($7.6 million), down 97 percent from 1.9582 billion yuan in the same period in 2021.

The cost of revenue was 7.9619 billion yuan ($1.1887 billion), up 1% from 7.8979 billion yuan in the same period last year.

Overall operating expenses were 14.7805 billion yuan ($2.2067 billion), compared with 13.1509 billion yuan in the same period last year.

Sales and marketing expenditure was 11.3434 billion yuan ($1.6935 billion), up 9% from 10.3879 billion yuan in the same period last year.

General and administrative expenses were 825.7 million yuan ($123.3 million), up 90 percent from 434.2 million yuan in the same period last year.

Spending on R & D was 2.6114 billion yuan ($389.9 million), up 12% from 2.3288 billion yuan in the same period last year.

Operating profit was 8.6972 billion yuan ($1.2985 billion), up 33.5% from 1.9975 billion yuan in the same period last year.

Without general accounting standards, operating profit was 10.5415 billion yuan ($1.5738 billion), up 231% from 3.1852 billion yuan in the same period last year.

The net profit attributable to pinduoduo's common shareholders was 8.8963 billion yuan ($1.3282 billion), up 268% from 2.4146 billion yuan in the same period last year.

The net profit attributed to pinduoduo's common shareholders was 10.7763 billion yuan ($1.6089 billion), up 161% from 4.1253 billion yuan in the same period last year.

Basic earnings per American depositary share (ADS) were 7.06 yuan ($1.05) and diluted earnings per American depositary share were 6.22 yuan ($0.93), compared with basic and diluted earnings per ADS of 1.93 yuan and 1.69 yuan, respectively, in the same period last year.

Without GAAP, diluted earnings per American depositary share (ADS) were 7.54 yuan ($1.13), compared with 2.85 yuan per ADS in the same period last year.

Net cash for operating activities was 19.3739 billion yuan ($2.8924 billion), compared with 7.3712 billion yuan in the same period in 2021.

As of June 30, 2022, pinduoduo's cash, cash equivalents and short-term investments were 119.4 billion yuan ($17.8 billion), compared with 92.9 billion yuan as of December 31, 2021.

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