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Pinduoduo equity exposure: Huang Zheng holds 27.9% of Tencent's shares and 15.5% of Sequoia's holdings

via:新浪科技     time:2022/5/4 22:04:51     readed:179

Lei Jianping reported on May 4

Pinduoduo recently released the 20-F document, the annual report shows that as of February 28, 2022, Pinduoduo founder Huang Zheng held 27.9%, Tencent held 15.5%, Pinduoduo partners collectively held 7.3%, Banyan Partners Funds (Gaorong Capital) held 6.6%, sequoia Capital held 2.6%.

截至2022年2月28日,拼多多股权结构As of February 28, 2022, Pinduoduo's shareholding structure

As of March 31, 2021, Huang Zheng held 28.1%, Tencent held 15.6%, Pinduoduo Partners collectively held 7.4%, Gaorong Capital held 7.2%, and Sequoia Capital held 6.4%.

截至2021年3月31日,拼多多股权结构As of March 31, 2021, Pinduoduo's shareholding structure

In comparison, it can be found that Gao Rong has slightly reduced its holdings by about 0.6 percentage points in the past year, and Sequoia Capital has reduced its holdings by more, reducing its stake in Pinduoduo by about 3.8%.

Huang Zheng's equity has undergone very big changes in 2020, Pinduoduo's stock price rose rapidly in 2020, and the market value once exceeded 200 billion US dollars, while Huang Zheng was unwilling to be China's richest man and took the initiative to dilute the shares.

In July 2020, Pinduoduo made the biggest adjustment since the company's listing, in which Huang Zheng announced by letter to all employees that Chen Lei, the former CTO of the company, was approved by the board of directors as ceo. Huang Zheng continued to serve as chairman. Pinduoduo also appointed Senior Vice President Zhu Jianchong as the company's Chief Counsel and Ma Jing as the Company's Vice President of Finance.

Huang Zheng announced the official establishment of the "Stars Charity Fund" in accordance with the commitments made at the time of the IPO, and together with the founding team, donated 113,548,920 ordinary shares (about 2.37% of the total number of shares of the company) to pinduoduo listed companies, aiming to promote social responsibility construction and scientific research.

At the same time, Huang Zheng allocated 370,772,220 ordinary shares (about 7.74% of the total number of shares of the company) to the Pinduoduo partner collective under his personal name.

On March 17, 2021, Pinduoduo made further adjustments, and Huang Zheng issued a 2021 annual letter to shareholders, announcing that he would step down as chairman of Pinduoduo and be replaced by the current CEO Chen Lei.

At present, the chairman and CEO of Pinduoduo is Chen Lei, the independent directors are Nanpeng Shen (Shen Nanpeng), Anthony Kam Ping Leung, George Yong-Boon Yeo, Qi Lu (Lu Qi), and the directors are Haifeng Lin (Lin Haifeng).

After Huang Zheng retired, Pinduoduo's strategy also changed greatly.

Chen Lei, chairman and CEO of Pinduoduo, previously said that Pinduoduo will shift its focus from past marketing to research and development in 2021, which will lay a solid foundation for the company's long-term development.

Pinduoduo's revenue in 2019, 2020 and 2021 was 30.142 billion yuan, 59.49 billion yuan and 93.95 billion yuan (about 14.743 billion US dollars), respectively, and the gross profit was 23.8 billion yuan, 40.2 billion yuan and 62.232 billion yuan (about 9.766 billion US dollars), respectively.

Pinduoduo's net profit in 2019, 2020 and 2021 was -6.968 billion yuan, -7.18 billion yuan and 7.769 billion yuan (about US$1.219 billion), respectively.

Pinduoduo's net profit for the fourth quarter of 2021 was 6.62 billion yuan, compared with a net loss of 1.376 billion yuan in the same period last year; the net profit under Non-GAAP was 8.444 billion yuan, compared with a net loss under non-GAAP of 185 million yuan in the same period last year.

As of December 31, 2021, Pinduoduo held cash, cash equivalents and short-term investments of RMB92.9 billion, and as of December 31, 2020, Pinduoduo held cash, cash equivalents and short-term investments of RMB87 billion.

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