PDD Holdings announces Q4 and FY 2025 financial results
Revenues increased 12% to RMB123.9 billion in Q4 and 10% to RMB431.8 billion for the year. Operating profit rose in Q4 but fell annually. Net income declined year-over-year.
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Social e-commerce platform
pinduoduo.comLast updated
In short: PDD Holdings reported slowing growth and declining profits throughout 2025 and 2026 as it pivoted toward massive supply chain investments.
Revenues increased 12% to RMB123.9 billion in Q4 and 10% to RMB431.8 billion for the year. Operating profit rose in Q4 but fell annually. Net income declined year-over-year.
Total revenues rose 9% to RMB108,276.5 million and net income increased 17% to RMB29,328.2 million.
The company reported a 7% revenue increase and a 21% decrease in operating profit compared to the same quarter in 2024. Net income decreased by 4%.
Pinduoduo will report its unaudited financial results for Q2 2025 on August 25, 2025, with a conference call scheduled the same day. The webcast will be available for replay.
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