PDD Holdings reported strong Q2 2024 financial results with total revenues reaching RMB97.1B, up 86% YoY. Operating profit increased 156% to RMB32.6B, while net income rose 144% to RMB32B. Online marketing services revenue grew 29% to RMB49.1B, and transaction services revenue surged 234% to RMB47.9B.The company's robust performance was driven by increased merchant activity and user engagement, though management noted slowing quarter-on-quarter revenue growth. Cash position remained strong with combined cash, cash equivalents and short-term investments of RMB284.9B as of June 30, 2024.Looking ahead, PDD executives warned of potential pressure on revenue growth due to intensified competition and external challenges. The company plans to prioritize ecosystem health through increased investments in platform trust and safety, even if it impacts near-term profitability. Management emphasized support for high-quality merchants while taking firm action against low-quality ones.

PDD Holdings reported strong Q2 2024 financial results with total revenues reaching RMB97.1B, up 86% YoY. Operating profit increased 156% to RMB32.6B, while net income rose 144% to RMB32B. Online marketing services revenue grew 29% to RMB49.1B, and transaction services revenue surged 234% to RMB47.9B.The company's robust performance was driven by increased merchant activity and user engagement, though management noted slowing quarter-on-quarter revenue growth. Cash position remained strong with combined cash, cash equivalents and short-term investments of RMB284.9B as of June 30, 2024.Looking ahead, PDD executives warned of potential pressure on revenue growth due to intensified competition and external challenges. The company plans to prioritize ecosystem health through increased investments in platform trust and safety, even if it impacts near-term profitability. Management emphasized support for high-quality merchants while taking firm action against low-quality ones.