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Head iron pinduoduo to shake Ali! 4 billion but more than 600 million active buyers

via:博客园     time:2020/5/23 8:20:40     readed:38

By Yan Yan

Production of NetEase Technology Section C column group (official account: tech_) 163)

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Today, pinduoduo publishes Q1 financial report in 2020.

According to the financial report, the company's revenue in the first quarter was 6.54 billion yuan, up 44% year-on-year from 4.545.2 billion yuan in the same period last year, higher than the market expectation of 4.969 billion yuan; the net loss in the quarter (under the general accounting standards) was 4.119 billion yuan, up 119.34% from 1.878 billion yuan in the same period last year, higher than the market expectation of 2.67billion yuan.

Pinduoduo's share price soared by more than 9% before its release.

1、 Affected by the epidemic, the year-on-year growth rate of revenue is new and low

According to the quarterly financial report, the company's revenue in the first quarter was 6.54 billion yuan, up 44% year on year from 4.545.2 billion yuan in the same period last year.

orgsrc=//img2020.cnblogs.com/news/66372/202005/66372-20200523075131986-1560137852.jpg

(data source: pinduoduo graphics: Netease Technology)

The revenue from online marketing services was 5.492.3 billion yuan, an increase of 39.1% over the same quarter of 2019; the revenue from trading services was 1.048 billion yuan, an increase of 75.73% over the same period of last year.

It is worth noting that due to the impact of the epidemic, the growth rate of pinduoduo's revenue fell significantly in this quarter.

orgsrc=//img2020.cnblogs.com/news/66372/202005/66372-20200523075131944-106419704.png

(data source: pinduoduo graphics: Netease Technology)

Pinduoduo's net loss continued to expand due to its operating expenses.

In the quarter, pinduoduo spent 7.296 billion yuan on sales and marketing, up 49% from 4.889.3 billion yuan in the same period in 2019, mainly due to the increase in advertising spending, as well as sales promotion and coupons.

That is to say, basically pinduoduo more than a dollar of advertising, can return a piece of revenue, in the use of heavy money to support growth.

In this quarter, pinduoduo's general and administrative expenses were RMB 338.3 million, an increase of 43% compared with RMB 236.1 million in the same period of 2019, mainly due to the increase in the number of employees.

The R & D cost is RMB 1473.2 million, up 121% from RMB 667.1 million in the same period of 2019. This is mainly due to the increase in the number of employees and the recruitment of more experienced R & D personnel, as well as the increase in R & D related cloud service costs.

Pinduoduo said that there are two main reasons for the loss expansion. On the one hand, during the epidemic, in order to help businesses on the platform, pinduoduo actively continued to reduce the marketing costs of businesses on the platform on the basis of maintaining 0 Commission, and gave a large number of free flow resources to the medical supplies most needed by users.

On the other hand, pinduoduo continues to increase its continuous investment in direct subsidies for technology, products and commodities. At the same time, pinduoduo's 10 billion yuan subsidy continues to be online, providing users with more cost-effective brand goods. In this quarter, the platform's sales and marketing expenses reached 7.297 billion yuan.

For losses, pinduoduo David Liu, vice president of strategy, said

2、 Scale of new users continues to lead and maintain competitiveness

According to Caibao in the first quarter of 2020, the number of annual active buyers of pinduoduo has reached 628 million, an increase of 42.9 million in a single quarter, and 185 million compared with the same period in 2019. The average number of monthly active users of pinduoduo reached 487 million, an increase of 198 million over the same period in 2019.

Interestingly, this evening, Ali also released Q1 financial report. So far, Alibaba, Jingdong and pinduoduo, three e-commerce giants, have released Q1 financial report data.

Alibaba's annual active consumers reached 726 million, an increase of 15 million this quarter; monthly active users reached 846 million, an increase of 22 million compared with December 2019.

Jingdong's annual active consumers increased from 362 million to 387.4 million in this quarter, an increase of 25.4 million; the average number of daily active users of Jingdong mobile terminal increased by 46% compared with the same period last year.

At the end of 2019, in terms of active users, Alibaba reached 711 million, pinduoduo 585 million and Jingdong 362 million.

In comparison, the gap between pinduoduo's active users and Alibaba's is further narrowed.

At the same time, the single user consumption of pinduoduo is steadily increasing. As of the end of March, the average annual expenditure to each active buyer reached 1842.4 yuan. At the end of 2019, the figure is 1720.1 yuan.

It is worth noting that at present, pinduoduo's cash flow is relatively abundant and has certain anti risk advantages.

By the end of the first quarter, the total amount of cash and cash equivalents and short-term investment in pinduoduo account was 42.6 billion yuan (excluding restricted funds). Pinduoduo said that the company has sufficient cash reserves, 10 billion subsidies will continue, and the number of categories and commodities will continue to expand subsidies.

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