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PDD (PDD.US) Plunges 10%+ Post-Results, To Pour RMB100B in Brand Self-Operated Biz over 3 Yrs
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PDD Holdings Inc. (PDD.US) shares plunged 10.4% overnight (27th) to USD86.61 after 1Q revenue grew only 11% YoY to RMB106.229 billion, missing expectations. Non-GAAP net profit fell 17% YoY to RMB14.1 billion, far below the expected RMB24.597 billion, mainly hijacked by the "RMB100 billion support" program and supply chain investments. Zhao Jiazhen, Co-Chairman and Co-CEO of PDD Holdings Inc. (PDD.US), said the company established a special-purpose entity in Shanghai in March to officially launch its brand self-operated business, with an initial cash injection of RMB15 billion and a planned investment of RMB100 billion over the next three years. The company will go deep into the front line of the industry, accelerate the integration of supply chain resources, collaborate with globally renowned IPs for in-depth co-creation, incubate brands targeting different markets and categories, comprehensively empower supply chains toward brand development, and drive value growth across the supply chain system. CEO Chen Lei said that the company will focus on two fronts in its international business. First, it will continue to promote the integration and optimization of supply chain resources, actively attracting high-quality merchants and ecosystem partners, and embedding the platform into local business ecosystems in various markets. Second, it will develop the brand self-operated model, particularly in global markets. AASTOCKS Financial News |
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