bullish•PDD Holdings Inc•22 Mar 2023 09:39•Broker Report
PDD Holdings (PDD US) – Investment to enhance long-term development prospect
PDD Holdings (PDD) announced (20 Mar) 4Q22 results: revenue was up 46.2% YoY to RMB39.8bn, 7/5% below our/Bloomberg consensus estimates.
bullish•PDD Holdings Inc•22 Mar 2023 08:51
[PDD US]: Slowing Growth but Still Best-In-Class, Cut TP Maintain BUY.
We expect that PDD’s domestic eCommerce will experience slowdown in growth. Temu is likely to grow GMV rapidly with high losses from branding and...
bearish•PDD Holdings Inc•21 Mar 2023 16:55
Pinduoduo: Cost Cutting Wearing Out, Margins Heading Towards Our Steady State Target of 6-7%
Expecting consensus to downgrade expectations substantially over the next few years, we don’t think it is worthwhile paying up to 45.0x FY+2 OP (on...
bullish•PDD Holdings Inc•21 Mar 2023 01:06
Pinduoduo (PDD): 4Q22, Lower Than Consensus, But Higher Than Competitors
In 4Q22, revenue grew by 46% YoY, lower than consensus, but higher than competitors. The operating margin improved significantly from 7% in 2021 to...
bullish•PDD Holdings Inc•17 Mar 2023 12:55