Pinduoduo released its 20021third quarter financial report yesterday. Pinduoduo's revenue in the third quarter was 2,654.38+0,505.8 million yuan, up 5,654.38+0% year-on-year, and the number of active buyers reached 867.3 million. According to US GAAP, the operating profit is RMB 265,438+39.3 million, and the net profit attributable to ordinary shareholders is RMB 654,380+64 million.

Chen Lei, Chairman and CEO of Pinduoduo, interpreted the financial report yesterday. Chen Lei said that Pinduo turned six last month. It has been a year since he took over as CEO and half a year since he took over as chairman.

"In the meantime, Pinduoduo has been busy with the handover work, and the handover work is proceeding as planned. There are two main purposes behind this handover: one is to cultivate and promote young talents; The second is to shift the focus of marketing in the past five years to research and development. "

First of all, about cultivating and promoting young talents.

Chen Lei said that since the beginning of last year, many young members of Pinduoduo's team are stepping onto the stage and taking on more responsibilities. These young members demonstrated their core values of serving users. When the COVID-19 epidemic suddenly struck and disrupted everyone's life, many young members of Pinduoduo immediately took action to buy necessary materials and deliver them to users in need.

"In July this year, Henan suffered heavy rainfall. They acted quickly to buy the materials that were in short supply in the affected areas, and communicated with the logistics department to coordinate the distribution of materials so that the affected people would not lack necessities. These emergencies have promoted their growth and deepened their awareness of serving the society and users. Pinduoduo is glad to see that more members have the potential to grow into future leaders of Pinduoduo. They made practical business decisions and implemented them properly, which far exceeded Pinduoduo's expectations. "

Although still very young, many people have worked in the company for many years and have grown up with the company. They are writing about the future of this company. Only young people can bring creativity and vitality and keep innovating. In the next six to 12 months, as Pinduoduo constantly created opportunities for them to take the stage, more and more people took over important functions.

Second, shift the focus more to research and development. Pinduoduo is already serving 867.3 million users. Pinduoduo's management is an engineer. In order to give full play to this advantage, Pinduoduo is increasing its R&D investment. Compared with the heavy marketing in the past five years, it is a major strategic shift to focus on research and development.

Chen Lei pointed out that since the founding of Pinduoduo, agriculture has always been its core. At that time, Pinduoduo saw an opportunity to create value by helping agriculture enter the digital economy. "As engineers, my team and I are committed to finding technical solutions for all agricultural product supply chains. After six years of use, Pinduo only touched a small part. "

Plan to increase investment in agricultural science and technology solutions.

In the field of agriculture, Pinduoduo still has a lot to do, especially in science and technology. Therefore, Pinduoduo plans to increase investment in agricultural science and technology solutions to meet the major demand in the agricultural field.

This includes 1) using science and technology to drive agricultural products upward, so that the digital economy can serve more rural communities; 2) Further improve the efficiency of agricultural product supply chain, meet the needs of users and reduce consumption.

Chen Lei said that in the past six years, Pinduoduo has provided consumers with more kinds of agricultural products at more affordable prices and helped farmers increase their income. When Pinduoduo was founded six years ago, Pinduoduo was the first to sell agricultural products online.

Today, Pinduoduo directly connects 654.38+06 million farmers and 867.3 million consumers nationwide. /kloc-During the National Day Golden Week in October, the agricultural orders of Pinduoduo Platform increased by 279% year-on-year. Pinduoduo hopes that Pinduoduo will become the first choice for farmers and consumers for high-quality agricultural products. Pinduo will help more farmers improve their living standards and benefit the community through the platform of Pinduo.

To this end, Pinduoduo will continue to work hard to promote the digitalization of agricultural industry. Pinduoduo will offer more courses in Pinduoduo class to improve farmers' e-commerce and store operation skills. These can help them adjust the price and sales volume and sell them directly to consumers. In order to speed up the digitalization of agriculture, Pinduoduo promised to adhere to the "zero commission" policy for all agricultural products.

At the same time, Pinduoduo will continue to promote consumers' understanding of agricultural products, geographical indications agricultural products and agricultural products brands through live broadcasts and videos. The deepening of consumers' awareness of agricultural products and the improvement of farmers' skills can create more value for rural communities throughout the country.

In order to improve the efficiency of agricultural supply chain, Pinduoduo is still designing technology-driven services.

One of them is to match local supply with local demand. This service can also reduce unnecessary transshipment and provide consumers with fresher goods. In order to further reduce transportation time and food consumption, Pinduoduo is developing special technical solutions, such as path planning, algorithm design and cold chain optimization. These solutions help to lay the foundation for infrastructure that is more suitable for agricultural production and environmental sustainable development.

Pinduoduo's efforts in the application of agricultural science and technology are not limited to the matching of supply and demand, but also expand the upstream of agriculture to find technical solutions that can improve yield, nutrition and environmental sustainability. Pinduo hopes to help agriculture attract young people who are proficient in technology by strengthening the application of agricultural science and technology.

In this regard, the "Duoduo Agricultural Research Science and Technology Competition" is a good example. The contest proved that precision agriculture technology can effectively increase agricultural output. Several teams that participated in the competition in Pinduo last year have begun to commercialize their strawberry planting techniques. They are setting up their own start-up companies to help farmers increase their output and income.

Under the technical guidance of FAO and Vakhnin University, Pinduoduo co-hosted this year's competition with China Agricultural University and Zhejiang University. In this competition, Pinduoduo not only assessed the output, but also assessed the nutritional value, environmental sustainability and commercial feasibility. Participants adopted a multidisciplinary approach, using nutrition, precision agriculture and other related technologies to grow tomatoes.

Each finalist team consists of members from different disciplines, including agronomy and computer science.

At present, they are planting tomatoes remotely in Pinduo's intelligent greenhouse base in Yunnan. Pinduoduo is very happy to see that 80% of the finalists are "post-90 s", who have brought vitality and novel ideas to traditional agriculture.

At the same time, Pinduo cooperates with world-class agricultural institutions to provide tailor-made courses and training for these young agricultural technicians, including topics such as greenhouse gardening, crop management and modeling.

For young people who want to devote themselves to technology and contribute to society in the future, agriculture is a field with great potential. As a platform focusing on agriculture, Pinduoduo hopes to create more opportunities for young talents to join in agriculture by using the platform and technology of Pinduoduo, and work with them to improve all links of agricultural product supply chain with technology.

It is an important but challenging thing to improve agriculture by investing in technology. This requires a long-term investment from Pinduo, who will do it patiently and in a planned way. Pinduoduo hopes to build a smarter and more sustainable future for agriculture through Pinduoduo's efforts.

Last quarter, Pinduoduo announced the launch of the "Ten Billion Agricultural Research Project", aiming at meeting the major needs of agriculture and rural areas. This special project is not aimed at commercial value or profit, but at promoting the progress of agricultural science and technology, and at further encouraging and obtaining agricultural science and technology workers and laborers. The profit in the second quarter of this year and the possible profits in the next few quarters will be invested in this special project.

The profit in the third quarter will also be invested in this special project. With the approval of the board of directors, Pinduoduo held an extraordinary general meeting of shareholders at the end of September, which was passed by shareholders.

Promise to take on more social responsibilities

Chen Lei said that as a member of society, Pinduoduo has close ties with all parties. "The growth of Pinduoduo is inseparable from the support from all walks of life, and we want to give back as much support as possible. Therefore, Pinduoduo promised to assume more social responsibilities. "

In July this year, Henan was hit by heavy rainfall, and Pinduoduo started the aid operation. The first phase donated 654.38 billion yuan to help Henan flood control and disaster relief, and urgently opened the "emergency relief materials feedback portal" to provide support for the distribution of relief materials. Zhengzhou bought more grain, made an emergency inventory of food, medicine and other emergency materials at all local grid points, and cooperated with domestic and foreign suppliers in Henan Province to purchase materials, which were provided to the affected people through nearly 20,000 stores and outlets in Zhengzhou.

This year 10, extremely heavy rainfall occurred in most parts of Shanxi, causing disasters. Pinduo rushed to Shanxi for disaster relief and donated 50 million yuan to Shanxi Charity Federation for emergency relief and post-disaster reconstruction.

Chen Lei said that in the future, Pinduoduo will make more contributions to society. Pinduoduo will continue to actively use the platform and resources of Pinduoduo to better serve users, farmers, merchants and society.

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