Pinduoduo’s parent company,Japan PDD, reported a 66% increase in revenue to RMB 52.3 billion ($7.21 billion) for the quarter ending in June. The company attributed this growth to “a positive shift” in consumer sentiment. This surge in revenue allowed PDD to outperform its Chinese counterparts, with Alibaba experiencing a 12% rise and JD seeing a 4.85% increase in domestic retail business. Notably, earnings from online marketing and transaction services showed impressive growth of 50% and 131%, respectively. However, PDD’s expenses on sales and marketing also increased by 50% year-on-year to RMB 17.5 billion in the second quarter, largely due to investments in promotion and advertising activities. Zhao Jiazhen, co-CEO of PDD, emphasized the company’s close alignment with the overall consumption market. He stated that the quarterly revenue growth is “inseparable” from the implementation of various pro-consumption support measures. During the relevant earnings call, the company mentioned Temu, indicating that they are not currently focused on the financial metrics of the rapidly expanding operation. Instead, they prioritize creating unique value. The net income of the Nasdaq-listed company rose by 47% from the previous year to RMB 13.1 billion during the period. [PDD]
44 GPU Fortnite Benchmark: The Best Graphics Cards for Playing Battle Royale
Frank Ocean's Coachella set and the breakdown of the fan
Abridged Classics by John Atkinson
Kohl's early Cyber Monday deals: Home, kitchen, toys, more
NYT Connections Sports Edition hints and answers for May 18: Tips to solve Connections #237
iMessage's invisible ink puts the fun in functional
My Own Boundaries Seem to Be Fading: An Interview with Lauren Groff
Who Speaks Freely?: Art, Race, and Protest by Aruna D'Souza
Skype is finally shutting down
The Paris Review Recommends Anti
Apple is actively looking at AI search for Safari
Illustrated Maps of New York Through the Ages by The Paris Review
Kohl's early Cyber Monday deals: Home, kitchen, toys, more
Who Speaks Freely?: Art, Race, and Protest by Aruna D'Souza
Reality Distortion Field: 10 Things Apple Won't Directly Say But We'll Infer About the iPhone X
TikTok is one big Wes Anderson movie
How to connect Spotify to BeReal
Cyber Monday Amazon Echo deals 2023
How to Reboot and Reset Android Devices
50+ best early Cyber Monday monitor deals: Save up to $800
Jabra's wireless earbuds double as heart rate monitorsHurricane Hermine may pummel MidAn appreciation of the McDonald's employee with Down Syndrome who just retired after 32 yearsJabra's wireless earbuds double as heart rate monitorsBefore and after photos from girl's first day of school will make you say 'same'These guys laughing at a new driver are funnier than anything the driver actually doesApple's iPhone 7 Event: What to expectEverybody run: Trump supporter warns of #TacoTrucksOnEveryCornerSony's new headphones promise to drown out all outside noiseThis iPhone thong case will help you catch 'em all in 'Pokémon Go'These guys laughing at a new driver are funnier than anything the driver actually doesAdorable grandparents suit up in the same outfit every single dayThe internet is ROTFL over the 'Make Mexico Great Again Also' hatsPlay 'Overwatch' free for a whole weekend on Xbox and PS4Uniqlo's biggest Southeast Asia store opens to massive crowd of eager shoppersHurricane Hermine may pummel MidAdorable Japanese bunny bags make for the best kind of rabbit infestationDrake and Rihanna lock lips on stage... for real this timeDrake and Rihanna lock lips on stage... for real this timeSolange Knowles wraps herself in yarn, still inspires outfit envy J.K. Rowling tweets heartwarming message in the wake of the London terror attack Drake's new album has inspired a whole lot of Google searches 'Shots Fired' is the most vital show on TV right now India gives legal human status to two of its oldest rivers This game is teaching particle physics to five Google adds audio calling to Duo and file sharing to Allo Female faces of student loan debt Apple buys automation app Workflow and makes it free 'Overwatch' player uses bongos and a Nerf gun to play Orisa This 'Time' cover will give you a reality check about Trump's America Americans are eating less beef. Here's why that matters for climate change Gamer frustrated with his team smashes his head through his monitor What's Apple's tax bill in New Zealand? Why it's zero, niet, nada. People are making fun of Airbnb's new Chinese name Facebook expands Live Video to profiles on personal computers Lindsay Lohan's prank show sounds terrifying in the best way Why Apple won't mention (Product) RED or HIV/AIDS in China Millennials can't shut up about sex, blame the internet It's time to start thinking about cybersecurity for sharks. Yes, the fish. Dbrand is going after Apple's new (RED) iPhone with a $10 skin