, China

Pinduoduo's loss narrows to $115.6m in Q3

The company's monthly active users surged 50% during the quarter.

Pinduoduo posted a net loss attributable to ordinary shareholders of $115.6m (RMB784.7m) in Q3, narrowing from $353.45m (RMB2.34b) in Q3 2019, the company announced. Total revenues soared 89% to $2.09b (RMB14.21b) over the same period.

The growth was attributed to a continued investment in user engagement, which resulted in strong growth of monthly active users (MAUs) and active buyers, commented Pinduoduo's CEO Lei Chen.

Average MAUs in the quarter surged 50% to 643.4 million, from 429.6 million in the same quarter of 2019. Active buyers in the 12-month period ended on 30 September also rose 36% YoY to 731.3 million.

Further, revenues from online marketing services and others soared 92% to $1.9b (RMB12.88b), thanks to higher advertising demand from merchants on our platform given continued advancement in our brand and market position.

Likewise, revenues from transaction services expanded 66% to $196.2m (RMB1.33b) following a higher gross merchandise value (GMV) that leapt 75% to $214.7b (RMB1.46b).

Basic and diluted net loss per ADS were $0.10 (RMB0.66), compared with $0.30 (RMB2) in the same quarter of 2019.
 

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Get Retail Asia in your inbox

Customers take center stage: Using innovation to grow your business

This exclusive Retail Asia virtual round table on 28 May will guide retailers on how to meet their customer's needs and sustain their business during the pandemic.

How NTUC FairPrice's consumer centric mindset became its golden goose

The "FairPrice on Wheels" community initiative brings daily essentials to mature estates with higher concentration of low-income seniors.

US-based Sam’s Club launches first Huizhou store

The store offers sampling activities, free eye and hearing tests, and wine tasting.

Hongkong Land launches shopping mall in Chongqing

It features a seven-storey botanical garden and sports and cultural interactive offerings.

Revenge spending boosts South Korea’s luxury retail

Both women’s and men’s clothing stores saw a rise in sales this year.

How South Korea’s supermarkets lure in neighborhood customers

Customers have been shopping more through local shops and online platforms.

Shinsegae’s Emart offers ‘e-money’ to customers

Shoppers can save up to 3,000 points by finding products sold cheaper elsewhere.

South Korea’s department stores scramble for better products

The rapid rise of online shopping has weakened their status amongst SMEs.

Alibaba's Taobao Deals to roll out more direct-from-producer products

The app saw 100 million users during its first year.

JD’s Seven Fresh launches first Shenzhen store

Customers can get imported produce as well as local fruits from Guangdong.