PDD Q2 revenue reached 97.1 billion RMB, continuing to increase investment to cope with industry competition
On August 26, PDD released its second-quarter financial report, with revenue of 97.1 billion RMB, an 86% year-on-year increase. Chen Lei, Chairman and Co-CEO of Pinduoduo Group, stated that since the beginning of this year, competition in the e-commerce industry has intensified. The platform will invest billions of resources to support new high-quality merchants, waive billions in fees for high-quality merchants, continuously improve the quality and efficiency of the supply chain, enhance ecological governance, in response to the increasingly fierce industry competition
On August 26, Pinduoduo (PDD.US) released its second-quarter financial report, with revenue of 97.1 billion RMB, an 86% year-on-year increase. Chen Lei, Chairman and Co-CEO of Pinduoduo Group, stated that since the beginning of this year, competition in the e-commerce industry has intensified. The platform will invest billions of resources to support new high-quality merchants, waive billions in fees for high-quality merchants, continuously improve the quality and efficiency of the supply chain, enhance ecological governance, in response to the increasingly fierce industry competition