Affordable EC of China, Pinduoduo, announced its financial results. The number of active users is over 700 million.

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On May 26, China's affordable online shopping "Pinduoduo" announced the financial results for the first quarter of 2021. The company announced that the sales increased by 239% compared to the same period of the previous year to 22,167 million yuan (about 380.8 billion yen), and the total loss decreased by 5.7% to 4,147 million yuan (about 71.24 billion yen). The breakdown is that sales of online marketing services were 14,111.5 million yuan (about 242.4 billion yen), which increased by 157% compared to the same period of the previous year, and sales of services of merchant fee were 2,931.5 million yuan (about 50.3 billion yen), which increased by 180% compared to the same period of the previous year. Product sales were 5,124.1 million yuan (about 88 billion yen), which increased by 180% compared to the same period of the previous year. In addition, the number of app users of the company continues to increase rapidly. The annual number of active users increased by 31% to 823.8 million compared to the same period of the previous year, and the average number of monthly active users increased by 49% to 724.6 million compared to the same period of the previous year. The total number of business owners opening stores is over 8.6 million. In addition, Pinduoduo clarified that it will continue focusing on agriculture. In the future, in addition to focusing on strengthening infrastructure platforms, Pinduoduo is going to collaborate with domestic and overseas research institutes to expand investment in the fields such as scientific agriculture, agricultural robots, and futuristic foods.

Source: Investor "Pinduoduo Pulls Ahead with 824 Million Users, Vows to Use Scale for Good" (May 27, 2021)