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

CTOnews.com May 4 news, today there is news that pinduoduo headquarters will move from China to Ireland. In response, pinduoduo said the news was seriously untrue and was purely misread, according to the Financial Associated Press. "pinduoduo was born in Shanghai and grew up in China. Pinduoduo is always headquartered in Shanghai, China and will not change."

According to reports, pinduoduo e-commerce global business temu out of the need to do business in Europe, while based on compliance needs, chose Dublin, Ireland as the legal registration place for overseas business.

Pinduoduo recently submitted the 20Mutual F document to the US SEC, which showed that as of February 28, 2023, pinduoduo founder Huang Zheng held 26.5 per cent, Tencent 14.7 per cent and pinduoduo partners collectively owned 7 per cent. Pinduoduo's management has a total stake of 1.2 per cent.

According to CTOnews.com, pinduoduo's operating profit in 2020, 2021 and 2022 was-9.38 billion yuan, 6.897 billion yuan and 30.4 billion yuan (about US $4.4 billion), respectively; the net profit was-7.18 billion yuan, 7.769 billion yuan and 31.538 billion yuan (about US $4.573 billion) respectively; and the net interest rate was-12.1%, 8.3% and 24.2%, respectively. Of this total, pinduoduo's total revenue in the fourth quarter of 2022 was 39.82 billion yuan (US $5.7734 billion), an increase of 46% from 27.2309 billion yuan in the same period in 2021. The net profit belonging to pinduoduo's common shareholders was 9.4537 billion yuan (US $1.37 billion), an increase of 43% over the net profit of 66.195 billion yuan in the same period in 2021.

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