bearish•PDD Holdings Inc•30 May 2023 15:39
Pinduoduo (PDD US): Deciphering Massive 1Q Beat
PDD’s massive 1Q beat didn’t answer the questions around its sustainability. We expect large fluctuations in earnings growth for the rest of 2023...
bullish•PDD Holdings Inc•30 May 2023 09:01
Pinduoduo (PDD US, BUY, TP US$95) Earnings Review: A Long Term Buy Amid Challenges in 2Q23
PDD remains a long run BUY as it’s a key beneficiary of the downward trend of Chinese and global consumption. We slightly raise our forecasts for...
bullish•PDD Holdings Inc•30 May 2023 01:16•Broker Report
PDD Holdings (PDD US) – Core Business Delivered Quality Growth
PDD Holdings (PDD) announced (23 May) 1Q23 results: revenue was up 58.2% YoY to RMB37.6bn, 15/17% ahead of our/Bloomberg consensus estimates
bearish•PDD Holdings Inc•29 May 2023 19:12
Pinduoduo: Margin Downtrend and Temu's De Minimis Risk
Declining margins raise valuation concerns, while addressing the De minimis loophole threatens the existence of Pinduoduo's cross-border platform,...
bullish•PDD Holdings Inc•29 May 2023 10:23