PDD News & Analysis

PDD Holdings (PDD) Reports RMB431.8B Revenue; Net Income Falls 12%

PDD Holdings Inc. (NASDAQ: PDD) announced its 2025 financial results, with total revenues of RMB431.8 billion, marking a 10% increase from 2024. However, net income attributable to shareholders dropped by 12% to RMB99.4 billion, influenced by heightened operating expenses in sales, marketing, and R&D. In Q4 alone, revenues reached RMB123.9 billion, up 12% year-over-year, with transaction services growing by 19%. The company's total cost of revenues increased by 15% due to rising fulfillment fees and bandwidth costs, affecting overall profitability.