Pinduoduo reported Q1 2025 revenue of RMB 95.7 billion, showing a notable slowdown due to rapid changes in the external environment. The company launched a 100 billion support program to help merchants, which led to a significant drop in profits. Key points:
1. Intensified competition in Chinese e-commerce sector
2. Global business challenges due to external policy changes like tariffs
3. Expanded fee reduction program for merchants
4. Long-term focus on merchant support and ecosystem investments
5. Short-term profitability impact expected to continue
Disclaimer: This earnings call summary is generated by AI and is for informational purposes only. Due to technical limitations, inaccuracies may exist. It does not constitute investment advice or commitments.