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Pinduoduo’s revenue exceeded 30 billion last year, and its annual turnover exceeded one trillion

On the evening of March 11th, Pinduoduo released its fourth quarter and subsequent financial reports for 2019, with revenue exceeding US $ 30 billion, breakthrough turnover (GMV) exceeding trillion, annual active buyers of nearly 6 billion, and consumption due to tens of billions of subsidiesBenefits are prominent.In this epidemic situation, Pinduoduo provided a lot of help in the circulation of agricultural products, the supply of medical supplies and the operation of businesses, and it continued.Preliminary GMV broke trillions of financial reports show that in 2019, Pinduoduo revenue will be 301.400 million yuan, compared with 131 in the same period in 2018.2 ppm, an increase of 130%, of which revenue in the fourth quarter was 107.US $ 900 million, mainly due to the strong growth of platform online marketing technical service revenue, that is, platform online marketing technical service revenue in 2019 was 268.1 ppm, an increase of 133% from the same period in 2018.Under U.S. GAAP, Pinduoduo ‘s net profit attributable to ordinary shareholders in 2019 was 69.7 trillion US dollars, compared with 103 trillion US dollars in the same period of 2018; under non-GAAP, the net interest rate of the platform attributable to ordinary shareholders is 42.6.6 billion yuan, may be 34 in the same period last year.5.6 billion yuan.First of all, Pinduoduo is explained by the increase in sales and marketing expenses. In the fourth quarter of 2019, the platform sales and marketing expenses reached 92.7 trillion, with a cumulative cost of 271 in advance.700 million yuan.The above-mentioned cost increase is related to the “tens of billions of compensation plan” and the upward investment of more agricultural products. In the third and fourth quarters of 2019, supplementary promotion costs 161 were added.800 million yuan.It is full of energy and brings new users, and it also enhances stickiness.As of the end of 2019, Pinduoduo’s annual number of active buyers reached 5.85.2 billion, a net increase of 48.9 million in a single quarter, a net increase of 1 per year.6.7 billion; of which the number of active buyers increased by 1 in the second half of 2019.02 billion.In terms of user stickiness, Pinduoduo’s average monthly active users reached 4 in the fourth quarter.81.5 billion, a net increase of 51.9 million in a single quarter and a net increase of 2 for many years.0.9 billion.In 2019, Pinduoduo will also increase its support for merchants and adhere to the “0 commission” policy. In addition to the six-thousandths of the handling fee paid to the payment institution, it will not provide any commissions to merchants and target high-quality products at good pricesProvide sufficient free traffic support.The financial report shows that the average annual consumption of Pinduoduo’s active buyers will increase to 1720 in 2019.1 yuan, compared with 1126 in the same period of the previous year.9 yuan increased by 53%; the annual transaction volume of the platform in 2019 reached 1006.6 billion US dollars, an increase of 113% from the previous year ‘s 471.6 billion US dollars.In February 2020, Pinduoduo further launched the “Ten Billion Compensation Festival”. The compensation speed increased from 20% of the turbo to a maximum of 50%. More than 5 million compensation commodities were sold within 24 hours after launch.Onion growers in Jianshui County, Honghe Prefecture, Yunnan Province are moving onions.Fighting against “epidemic disease” and helping farmers 8.4 In 2019, the agricultural product export village has a R & D cost of 38.7 billion yuan, compared with 11 in the same period in 2018.1.6 billion increased by 247%, and platform R & D expenses accounted for 12% of revenue.8%, much higher than the average level of the Internet industry.It is understood that its technology research and development is mainly used for the construction of China’s agricultural products upward system.Supported by the “Skynet” and “Groundnet” systems on the platform, the “ultra-short chain” of transitional cities and towns and agricultural production areas in China has begun to take shape.The data shows that in 2019, Pinduoduo achieved a turnover of USD 136.4 billion in agricultural (by-product) products, and the annual number of active buyers of agricultural (by-product) products reached 2.4 billion, an increase of 174% a year.Innovative poverty alleviation and assistance models such as “Duo Duo Farm” help farmers in poor areas to increase production and income.As of the end of 2019, the number of active merchants of platform agricultural (by-product) products reached 58.60,000, directly connected agricultural producers exceeded 12 million.This system has also played an important role in the outbreak of New Coronary Pneumonia.In response to the short-term imbalance in the supply of agricultural products, Pinduoduo has taken a series of special actions to drive the uplink of more than 400 agricultural production areas to recover and ensure the demand for urban supplies; at the same time, the “anti-epidemic agricultural products” area was launched and 500 million yuan was establishedCommodity compensation funds have solved the problem of the sale of agricultural specialty products in more than 230 national poverty-stricken counties, and the transition has driven more than 8.4 Agricultural products “out of the village into the city”.At the same time, Pinduoduo also launched the “anti-epidemic zone”, established 600 million US dollars of emergency funds, comprehensive coverage of medical and health supplies related to epidemic prevention and control, and terminated the cumulative compensation of more than 1 at the end of 2 months.800 million pieces of anti-epidemic protective equipment.In order to maintain the supply of commodities in a special period, the platform also allocated the first batch of USD 1 billion of special funds to provide a special supplement of RMB 2 to 4 for each shipment order to reduce the operation and cash flow pressure of the merchant.In this regard, Huang Zheng, chairman and CEO of Pinduoduo, said on the earnings conference call, “These supplements may affect the company ‘s profit and loss and shareholder returns in the short term, but as one of Pinduoduo ‘s major shareholders, I and the company ‘s coreAfter the outbreak of the outbreak, the shares conducted a brief but in-depth thinking, and determined that this is what we must do.Regarding the impact of the epidemic, Huang Zheng said: “The worsening of the epidemic has an impact on the company’s performance in the first quarter of 2020, but our long-term expectations remain unchanged.He mentioned that for Pinduoduo, the most valuable asset is “people”.Therefore, the company decided to increase the salary of the budget team members, and give short-term cash dividends and long-term distribution incentives to those who put more effort during the epidemic.Sauna, Ye Wang Zhang Xiaorong Editor Peng Yali Proofreading Jia Ning