PDD Holdings Focuses on High-Quality Consumption and Sustainable Growth
2024-06-03
PDD Holdings Inc., a leading company in the online retail sector, conducted its first quarter 2024 earnings conference call on May 22, 2024. The call was attended by key figures including Lei Chen, the Chairman and Co-Chief Executive Officer, Jiazhen Zhao, the Executive Director and Co-Chief Executive Officer, Jun Liu, the VP of Finance, and analysts Alicis a Yap, Yang Bai, and Kenneth Fong. During the call, the company announced a substantial year-on-year growth in total revenue, reaching RMB 86.8 billion.
Looking ahead, PDD Holdings outlined its strategic focus on bolstering high-quality consumption, expanding high-quality supply, and fostering a high-quality ecosystem. The company aims to adapt to the trend of consumption upgrades by enhancing its service offerings and equipping merchants with cost-effective digital solutions. Priority is placed on constructing an ecosystem that promotes compliant business practices for sustainable development.
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In the pursuit of high-quality consumption, PDD Holdings is enhancing pricing capabilities, attracting a wider array of merchants, diversifying product categories, cutting costs, and encouraging compliant business behavior. The company is also investing in compliance, research and development, and service capabilities to generate lasting value and a secure shopping environment for users.
Furthermore, PDD Holdings is actively engaging with consumption promotion policies, improving consumer experiences and savings, backing branded merchants, and nurturing its ecosystem. Through partnerships with reputable merchants and support for agricultural technology innovation, the company is contributing to the advancement of local farmers and the overall rejuvenation of rural communities.
Regarding financial performance, the company's non-GAAP operating expenses and profit margins have exhibited positive growth, underscoring a strategic approach to resource allocation and the creation of long-term value. PDD Holdings remains dedicated to addressing consumer needs, competition, compliance, and innovation to meet evolving market demands and propel global business expansion in the forthcoming years.
Overall, PDD Holdings' dedication to high-quality consumption, compliance, and the establishment of long-term value solidifies its position as a significant player in the online retail industry. The company is committed to delivering savings, top-notch products, and a reliable shopping environment for consumers worldwide.