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PDD Holdings is a multinational commerce group focused on bringing businesses and individuals into the digital economy. The company operates primarily through its flagship platform, Pinduoduo, which offers a wide range of products including agricultural produce, apparel, electronics, and household goods. PDD Holdings generates revenue through online marketing services, transaction services, and merchandise sales, catering to both merchants and consumers.
- Online Marketing Services and Others - Provides performance-based marketing services where merchants bid for product placement in search or browser results, enhancing visibility and sales.
- Transaction Services - Charges fees to merchants for transaction-related services, including value-added services tailored to specific transaction needs.
- Merchandise Sales - Facilitates direct sales of products to customers, offering a variety of goods sourced from suppliers.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Jiazhen Zhao ExecutiveBoard | Co-Chief Executive Officer and Executive Director | Jiazhen Zhao, a founding member of PDD Holdings Inc., has served as Co-Chief Executive Officer and Executive Director since April 2023, after previously serving as Senior Vice President from 2018 to 2023 and launching key initiatives such as the Duo Duo Grocery business and supply chain management. He was re-elected as a director during the 2024 Annual General Meeting on December 20, 2024. | View Report → | |
Lei Chen ExecutiveBoard | Co-Chief Executive Officer | Lei Chen is a founding member of PDD Holdings, currently serving as Co-Chief Executive Officer since April 2023, and has been instrumental as Chairman of the Board since March 2021. Previously, he led the company as CEO from July 2020 to April 2023 and contributed as Chief Technology Officer from 2016 to 2020. | View Report → | |
Jun Liu Executive | Vice President of Finance | Jun Liu has served as the Vice President of Finance at PDD since January 2022, after serving as Director of Finance from 2017 to 2021. She also has extensive experience from previous roles at Xiaohongshu.com, Light-In-The-Box, and PricewaterhouseCoopers Consultants in Shenzhen. | View Report → | |
Junyun Xiao Executive | Senior Vice President of Operation | Junyun Xiao is a founding member of PDD and has served as the Senior Vice President of Operation since 2016. He briefly held a director position from April 2018 to July 2018 , contributing to the company’s operational growth. | ||
Zhenwei Zheng Executive | Senior Vice President of Product Development | Zhenwei Zheng is a founding member of PDD and has served as Senior Vice President of Product Development since 2016, playing a pivotal role in the company’s product strategy. He also briefly held the role of director from April 2018 to July 2018. | ||
Anthony Kam Ping Leung Board | Independent Director and Chairman of the Audit Committee | Independent Director at OCBC Wing Hang Bank (China) Ltd. | Anthony Kam Ping Leung has served as an Independent Director and Chairman of the Audit Committee at PDD since August 2019. He also serves as Chairman of the Compensation Committee and brings over 30 years of financial services experience to the role. | |
George Yong-Boon Yeo Board | Independent Director | Senior Adviser to Kuok Group; Independent Non-Executive Director of AIA Group Limited; Independent Non-Executive Director of Creative Technology Ltd.; Member of the Board of Trustees of Berggruen Institute on Governance; Member of the International Advisory Panel of Peking University; Visiting Scholar at the Lee Kuan Yew School of Public Policy of the National University of Singapore | George Yong-Boon Yeo has served as an Independent Director at PDD since July 2018 and chairs the nominating and corporate governance committee, while also serving on the audit and compensation committees. | |
Haifeng Lin Board | Director | Head of Tencent Financial Technology and Corporate Vice President of Tencent Holdings Limited; Non-Executive Director of Linklogis Inc. | Haifeng Lin has served as a director at PDD since June 2017. He has built an extensive career in technology and finance with roles at Tencent and Linklogis. | |
Ivonne M.C.M. Rietjens Board | Independent Director | Full Professor at Wageningen University; Chairperson of the KNAW Scientific Council for Natural Sciences and Engineering; Chairperson of the FEMA Expert Panel; Elected member of the French Academy of Agriculture; Board member of Skal Biocontrole; Member of the Fonterra Global Food Safety Science Advisory Panel | Dr. Ivonne M.C.M. Rietjens serves as an independent director at PDD since August 2023 and is also a member of the audit committee and the nominating and corporate governance committee. She is a recognized expert in food safety and toxicology with over 25 years of experience in academia and various leadership roles. |
- Given that your revenue growth has slowed down this quarter amidst intense competition in China's e-commerce market, what specific strategic adjustments are you planning to implement to address domestic competition pressure and sustain growth?
- With the slight decline in profitability this quarter, differing from trends discussed previously, can you elaborate on the factors contributing to this decline, how it aligns with your long-term profitability trends, and how you plan to manage profitability while continuing your investments in compliance and ecosystem improvements?
- Your recent emphasis on compliance and platform ecosystem improvements involves significant investments; can you provide detailed insights into the specific measures taken, the challenges faced in implementing these measures, and the expected impact on your operations and financials in the near term?
- Regarding your global business, given the evolving external environment and differing views from external stakeholders, what specific challenges have you encountered in global markets, and how are these affecting your expansion strategy and timelines?
- With substantial investments in merchant support initiatives like the CNY 10 billion fee reduction program impacting short-term financial results, how do you balance these investments with shareholder expectations for profitability, and when do you anticipate seeing tangible returns from these initiatives?
Recent press releases and 8-K filings for PDD.
- For Fiscal Year 2024, total revenues surged 59% to RMB393,836.1 million
- Q4 2024 revenue increased by 24% YoY to RMB110,610.1 million
- Q4 operating profit reached RMB25,592.2 million (up 14% YoY) with net income growing 18% to RMB27,446.6 million
- Made significant ecosystem investments, including a CNY 10 billion fee reduction program and enhanced merchant support benefiting over 10 million merchants
- Launched consumer and supply side initiatives—promotional campaigns, logistics support in remote regions, and consumer savings programs—to drive long-term sustainable growth
- Higher operational investments drove total cost of revenues up from RMB35.1 billion to RMB47.8 billion in Q4