1. Revenue, GMV
Quarter:
Note: GMV is an estimate, and Q1 calculates the estimate based on a 4% take rate.
Year:
Note: The orange part is an estimate, and the taoke rate is 3.8%; annual consumers are calculated at 868 million in '21.
2. Gross profit, gross profit margin
Quarter:
Year:
3. Expenses and Expense Rates
Quarter:
Year:
4. Operating profit and profit margin
Quarter:
Year:
5. Comparison of core data of Ali, JD and Pinduoduo
NOTE:
A. The revenue is all part of the platform's e-commerce revenue.
B. Ali's operating profit includes new retail and Chinese wholesale portions, which are for reference only.
C. JD's operating profit is the overall profit of self-operated+platform e-commerce, including self-operated profit, and is for reference only.
The share of Taobao Tmall's revenue in a single quarter of Pinduoduo is still growing rapidly, from 44% of last year's overall revenue to 62% in Q1 this year. If this trend continues, the overall share will be over 60% or higher this year. However, the level of operating profit and profit margin is still far lower than Taobao Tmall. Taobao Tmall's profit margin has remained above 40% for a long time, and Pinduoduo is currently around 20%. This is an inevitable cost of rapid growth. Looking at the trend, the GMV and income gap between Pinduoduo and Taobao and Tmall will continue to be drastically reduced.
6. Summary:
Since the beginning of this quarter, there has been almost no proprietary income, all of which is platform revenue, but there is less and less data being disclosed. The number of users and GMV data are no longer disclosed. Overseas TEM...