- MAU hits 719.9 million in 4Q, annual active buyers reached 788.4 million
- 4Q total revenue rose 146% to
RMB 26,547.7 million (US$ 4,068.6 million )
The 1:10 super voting rights attached to Huang’s shares have been removed upon his relinquishing of executive responsibilities. He has also pledged to extend the lock-up period for his shares by another three years, and entrusted the exercise of their voting rights to the Board.
“On behalf of the Board, we would like to thank him for his leadership and contribution to
The company also announced its fourth-quarter financial results today.
Highlights of 4Q results
- Annual active buyers (AAB) in the twelve-month period ended
December 30, 2020 were 788.4 million, an increase of 35% from 585.2 million in the twelve-month period endedDecember 30, 2019 . - Average monthly active users (MAU) in the quarter were 719.9 million, an increase of 50% from 481.5 million in the same quarter of 2019.
- GMV in the twelve-month period ended
December 30, 2020 wasRMB 1,667.6 billion (US$ 255.6 billion ), an increase of 66% fromRMB 1,006.6 billion in the twelve-month period endedDecember 30, 2019 . - Total revenues in the quarter were
RMB 26,547.7 million (US$ 4,068.6 million ), an increase of 146% fromRMB 10,792.7 million in the same quarter of 2019. - Non-GAAP operating loss in the quarter narrowed to
1,114.5 million yuan from1,336.6 million yuan in the same quarter of 2019.
The top leadership transition at
Shareholder Letter
Huang said that he will work on research in food science and life sciences after stepping down from the Board. In a letter to shareholders, Huang cited two reasons for the decision.
First,
Second, the pandemic brought on external changes and accelerated changes in Pinduoduo’s operations, creating a new generation of leaders and managers that should be given the room to shape the company.
“Pinduoduo has become a youth entering adolescence,” Huang wrote in the letter to shareholders. “Observing its rapid transformation and growth, I am both joyful and anxious.
A data scientist by training, Chen studied computer science at
In a conference call with analysts after the release of fourth-quarter results, Chen reiterated Pinduoduo’s commitment to promoting digital inclusion of rural communities.
To strengthen the resilience of the food supply chain,
According to Chen, the company also aims to build up a faster and lower-cost agriculture logistics infrastructure platform that will reduce waste and speed up delivery of perishable food, thus making groceries more affordable.
“We can and should do more,” Chen said. “We hope that in the next stage
For investor and media inquiries, please contact:Pinduoduo Inc. investor@pinduoduo.com internationalmedia@pinduoduo.com
Source:
2021 GlobeNewswire, Inc., source