Cover reporter Zhang Yuexi
On the evening of May 22, Pinduoduo US shares rose 7% to 155 US dollars per share, with a total market value of 215 billion US dollars, surpassing Alibaba again. As of the closing of the previous trading day, Alibaba's total market capitalization was $209.6 billion.
Early on the evening of the 22nd, Pinduoduo released its first quarter financial report, with revenue of 86.81 billion yuan, and the market estimated 76.86 billion yuan, up 131% year on year; The adjusted net profit was 30.6 billion yuan, and the market estimated 15.53 billion yuan, an increase of 202% year on year. The financial report also showed that the R&D expenses of Pinduoduo in the first quarter were 2.9 billion yuan, up 16% year on year.
