The listed e-commerce group PDD Holdings Inc., which operates the online platforms Temu and Pinduoduo, increased its turnover in the financial year 2024. In the fourth quarter, however, the pace of growth was below the annual average. This emerges from preliminary, still unchecked numbers that the company published on Thursday.
According to this, the group turnover reached a height of 393.8 billion Chinese Yuan (50.1 billion euros) last year and thus exceeded the level of 2023 by 59 percent. The operational result rose by 85 percent to 108.4 billion Chinese Yuan, which grew by 87 percent to 112.4 billion Chinese Yuan (14.3 billion euros).
In the final quarter, sales grow weaker than expected
In the fourth quarter, however, the sales development remained behind the market expectations. In the period from October to December, the group sales were 110.6 billion Chinese Yuan, which corresponded to an increase of 24 percent compared to the same period last year.
The operating result increased by 14 percent to 25.6 billion Chinese Yuan, which increased by 18 percent of the shareholder net profit and reached a height of 27.4 billion Chinese Yuan.