Reporter Li Qiaoyu from this newspaper
On March 20th, Pinduoduo released its performance reports for the fourth quarter and full year of 2023 as of December 31st, 2023. In the fourth quarter of last year, Pinduoduo achieved a revenue of 88.9 billion yuan, a year-on-year increase of 123%; The operating profit under US GAAP is 22.4 billion yuan. Last year, the annual revenue was 247.6 billion yuan, a year-on-year increase of 90%.
According to the financial report, Pinduoduo's R&D expenses in the fourth quarter of last year were 2.9 billion yuan, and the annual R&D expenses reached 11 billion yuan. Chen Lei, Chairman and Co CEO of Pinduoduo Group, said, "This year, we will maintain our investment to explore and cultivate new quality productivity for high-quality development, and enhance the support capacity of cutting-edge technologies in agriculture and manufacturing."
"2024 will be an important year for Pinduoduo to deepen its high-quality development strategy," said Zhao Jiazhen, Executive Director and Co CEO of Pinduoduo. "The platform's revenue growth is the result of our effective consumer promotion measures and overall consumer recovery, as well as the result of creating more value for consumers and businesses."
In 2023, Pinduoduo will also accelerate the push for Chinese manufacturing to enter the global market. At present, Duoduo Cross border has entered 50 countries and regions. "Our business is still very new, and we always have a sincere attitude of learning from consumers and the market, exploring more technological and model innovations," said Chen Lei.
Guided by high-quality development strategies, Pinduoduo's key investment last year focused on technological innovation and agricultural strategies. After the R&D expenses exceeded 10 billion yuan in 2022, Pinduoduo Group's R&D investment in 2023 once again exceeded 10 billion yuan, setting a new historical high. This year, Pinduoduo will continue to focus on research and development, exploring technological innovation for high-quality development.
"This year, we will increase investment in key agricultural projects such as the Agricultural Cloud Action and Agricultural Research Competitions, continue to promote the construction of more resilient digital agricultural belts in various regions, and help rural revitalization and increase farmers' income," said Zhao Jiazhen.