PDD Holdings releases its financial report; what does the future hold for its development?
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In Q2 this year, PDD Holdings' total revenue wasRMB 23.05 billion, representing a year-over-year increase of89%，Net profit attributable to ordinary shareholders (Non-GAAP) wasRMB 4.125 billion, with average monthly active usersreaching 740 million, representing a 30% year-on-year increase. Although reduced profitability is related to subsidy cuts, it is evident that despite the reduction in subsidies, there has not been a significant loss of users. Chen Lei stated that the company's core focus remains onAgriculture, hoping to promote overall economic development through advancements in agriculture. The company aims to become the world's largestagriculture and grocery platform.Currently, in the agricultural platform sector, the company has already achieved the largest scale. The number of farmers served by the company isMore than 10 million。
. While announcing its operating results, PDD Holdings introduced the "10 Billion Agriculture Research Initiative", stating that it will not aim for industry value or profitability but will instead focus on advancingagricultural technology progress., providing greater motivation for agricultural technology practitioners and laborers. All profits from the second quarter and future quarters (if any) will be invested in this special initiative. In the short term, profitability may be difficult to sustain. However, the investment in the agriculture sector clearly aligns with the country's broader strategic goals. At present, the overall development of fresh produce remains at a relatively nascent stage.
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