Glonghui, May 23 | Strong results in the first quarter, and Pinduoduo (PDD.US)'s increase increased by more than 8% to $159, a record high since March 2021. According to Pinduoduo's pre-market earnings report, Q1 revenue for 2024 was 86.81 billion yuan, up 131% year on year, far exceeding market expectations of 75.6 billion yuan, mainly driven by increased revenue from online marketing services and transaction services; adjusted net profit of 30.60 billion yuan, up 202% year on year, far exceeding market expectations of 15.53 billion yuan; adjusted revenue per ADS was 20.72 yuan, far exceeding market expectations of 10.54 yuan. Pinduoduo Group said that revenue growth in the first quarter mainly benefited from GDP growth returning to more than 5% in the first quarter, seasonal factors such as Spring Festival consumption, and favorable policies such as trade-in. At the same time, it was also the result of the platform's ability to promote “multiple benefits” and “good service.”