China’s leading social e-commerce platform Pinduoduo’s active buyers in the 12-month period ended September 30, 2021 was 867.3 million, an increase of 19% from 731.3 million in the twelve-month period ended September 30, 2020.
The company posted 21.5 billion yuan ($3.3 billion) in revenue for the three months ended September, while the number of users who placed orders in the trailing 12-month period rose to 867.3 million.
Pinduoduo’s average monthly active users in the third quarter was 741.5 million, an increase of 15% from 643.4 million in the same quarter of 2020.
Total revenues in the quarter were RMB21,505.8 million (US$3,337.6 million), an increase of 51% from RMB14,209.8 million in the same quarter of 2020.
Operating profit in the quarter was RMB2,139.3 million (US$332.0 million), compared with an operating loss of RMB1,295.7 million in the same quarter of 2020. Non-GAAP4 operating profit in the quarter was RMB3,260.7 million (US$506.1 million), compared with a non-GAAP operating loss of RMB339.8 million in the same quarter of 2020.
Net income attributable to ordinary shareholders in the quarter was RMB1,640.0 million (US$254.5 million), compared with a net loss of RMB784.7 million in the same quarter of 2020. Non-GAAP net income attributable to ordinary shareholders in the quarter was RMB3,150.2 million (US$488.9 million), compared with RMB466.4 million in the same quarter of 2020.
Pinduoduo wants to leverage its strength in technology to deepen digital inclusion efforts in agriculture, and will allocate all profits from the third quarter to the ’10 Billion Agriculture Initiative’.