PDD Holdings Inc, the parent company of e-commerce platform Pinduoduo, reported a second-quarter profit of RMB 27.2 billion, marking a 12% year-on-year decline. The company's quarterly revenue reached RMB 112.4 billion. Meanwhile, non-GAAP R&D spending surged 40% to RMB 4.3 billion, reflecting its intensified focus on technology and ecosystem development.

The company's long-term "RMB 100 Billion Support" strategy is increasingly yielding positive results across the industrial ecosystem. This initiative has unlocked innovation momentum among merchants, leading to a steady stream of new products and brands. Consumer needs spanning material goods, emotional value, and diverse shopping scenarios have also been better addressed, driving quality and efficiency upgrades on both the supply and demand sides.

However, the substantial investments in platform governance, technological R&D, and the broader industrial ecosystem under strategies like the "RMB 100 Billion Support" plan have weighed on quarterly profitability. These capital commitments are precisely what have enabled the platform to upgrade its service capabilities and governance systems, while fostering a consistently healthier and more stable industrial environment.

Looking ahead, PDD Holdings continues to prioritize long-term ecosystem health over short-term earnings, with management emphasizing that sustained investment remains central to its growth strategy despite the current profit pressure.