Advertisement
U.S. markets closed
  • S&P 500

    5,088.80
    +1.77 (+0.03%)
     
  • Dow 30

    39,131.53
    +62.42 (+0.16%)
     
  • Nasdaq

    15,996.82
    -44.80 (-0.28%)
     
  • Russell 2000

    2,016.69
    +2.85 (+0.14%)
     
  • Crude Oil

    76.57
    -2.04 (-2.60%)
     
  • Gold

    2,045.80
    +15.10 (+0.74%)
     
  • Silver

    22.98
    +0.19 (+0.84%)
     
  • EUR/USD

    1.0823
    -0.0005 (-0.04%)
     
  • 10-Yr Bond

    4.2600
    -0.0670 (-1.55%)
     
  • GBP/USD

    1.2673
    +0.0015 (+0.12%)
     
  • USD/JPY

    150.4400
    -0.0600 (-0.04%)
     
  • Bitcoin USD

    51,651.96
    +650.60 (+1.28%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,706.28
    +21.79 (+0.28%)
     
  • Nikkei 225

    39,098.68
    +836.48 (+2.19%)
     

PDD Holdings Announces Third Quarter 2023 Unaudited Financial Results

DUBLIN and SHANGHAI, Nov. 28, 2023 (GLOBE NEWSWIRE) -- PDD Holdings Inc. (“PDD Holdings” or the “Company”) (NASDAQ: PDD), today announced its unaudited financial results for the third quarter ended September 30, 2023.

Third Quarter 2023 Highlights

  • Total revenues in the quarter were RMB68,840.4 million (US$19,435.4 million), an increase of 94% from RMB35,504.3 million in the same quarter of 2022.

  • Operating profit in the quarter was RMB16,656.0 million (US$2,282.9 million), an increase of 60% from RMB10,436.6 million in the same quarter of 2022. Non-GAAP2 operating profit in the quarter was RMB18,125.8 million (US$2,484.4 million), an increase of 47% from RMB12,301.5 million in the same quarter of 2022.

  • Net income attributable to ordinary shareholders in the quarter was RMB15,537.1 million (US$2,129.5 million), an increase of 47% from RMB10,588.6 million in the same quarter of 2022. Non-GAAP net income attributable to ordinary shareholders in the quarter was RMB17,027.1 million (US$2,333.8 million), an increase of 37% from RMB12,447.2 million in the same quarter of 2022.

“We are dedicated to generating value through innovations, which forms the foundation of our high-quality development,” said Mr. Lei Chen, Chairman and Co-Chief Executive Officer of PDD Holdings. “We continued to invest decisively in areas such as agritech, supply chain technology, and core R&D capabilities. Through these efforts, we aim to create our unique value.”

“Last month, we celebrated our eighth anniversary. We sincerely thank all stakeholders for the support we received,” said Mr. Jiazhen Zhao, Executive Director and Co-Chief Executive Officer of PDD Holdings. “Throughout the past third quarter, consumption vitality kept improving. We continued to provide consumers with more savings and better service through increased investments.”

“Under our ‘high-quality development’ strategy, we increased our investment in technology and further deepened user mindshare in the third quarter. Our financial performance reflects the early results we have achieved,” said Ms. Jun Liu, VP of Finance at PDD Holdings. “Going forward, we will continue to invest decisively to support our high-quality development.”

Third Quarter 2023 Unaudited Financial Results

Total revenues were RMB68,840.4 million (US$9,435.4 million), an increase of 94% from RMB35,504.3 million in the same quarter of 2022. The increase was primarily due to an increase in revenues from online marketing services and transaction services.

  • Revenues from online marketing services and others were RMB39,687.7 million (US$5,439.7 million), an increase of 39% from RMB28,482.0 million in the same quarter of 2022.

  • Revenues from transaction services were RMB29,152.7 million (US$3,995.7 million), an increase of 315% from RMB7,022.3 million in the same quarter of 2022.

Total costs of revenues were RMB26,830.2 million (US$3,677.4 million), an increase of 262% from RMB7,414.1 million in the same quarter of 2022. The increase mainly came from the increased fulfilment fees, payment processing fees, maintenance costs and call center expenses.

Total operating expenses were RMB25,354.1 million (US$3,475.1 million), an increase of 44% from RMB17,653.6 million in the same quarter of 2022. The increase was primarily due to an increase in sales and marketing expenses.

  • Sales and marketing expenses were RMB21,748.5 million (US$2,980.9 million), an increase of 55% from RMB14,048.8 million in the same quarter of 2022, mainly due to the increased spending in promotion and advertising activities.

  • General and administrative expenses were RMB758.3 million (US$103.9 million), compared with RMB906.6 million in the same quarter of 2022.

  • Research and development expenses were RMB2,847.3 million (US$390.3 million), compared with RMB2,698.2 million in the same quarter of 2022.

Operating profit in the quarter was RMB16,656.0 million (US$2,282.9 million), an increase of 60% from RMB10,436.6 million in the same quarter of 2022. Non-GAAP operating profit in the quarter was RMB18,125.8 million (US$2,484.4 million), an increase of 47% from RMB12,301.5 million in the same quarter of 2022.

Net income attributable to ordinary shareholders in the quarter was RMB15,537.1 million (US$2,129.5 million), an increase of 47% from RMB10,588.6 million in the same quarter of 2022. Non-GAAP net income attributable to ordinary shareholders in the quarter was RMB17,027.1 million (US$2,333.8 million), an increase of 37% from RMB12,447.2 million in the same quarter of 2022.

Basic earnings per ADS was RMB11.38 (US$1.56) and the diluted earnings per ADS was RMB10.60 (US$1.45), compared with basic earnings per ADS of RMB8.38 and diluted earnings per ADS of RMB7.34 in the same quarter of 2022. Non-GAAP diluted earnings per ADS was RMB11.61 (US$1.55), compared with RMB8.62 in the same quarter of 2022.

Net cash generated from operating activities was RMB32,537.9 million (US$4,459.7 million), compared with RMB11,651.8 million in the same quarter of 2022, mainly due to the increase in net income and the changes in working capitals.

Cash, cash equivalents and short-term investments were RMB202.8 billion (US$27.8 billion) as of September 30, 2023, compared with RMB149.4 billion as of December 31, 2022.

Conference Call

The Company’s management will hold an earnings conference call at 7:30 AM ET on November 28, 2023 (12:30 PM GMT and 8:30 PM HKT on the same day).

The conference call will be webcast live at https://investor.pddholdings.com/investor-events. The webcast will be available for replay at the same website following the conclusion of the call.

Use of Non-GAAP Financial Measures

In evaluating the business, the Company considers and uses non-GAAP measures, such as non-GAAP operating profit, non-GAAP net income attributable to ordinary shareholders, non-GAAP diluted earnings per ordinary share and non-GAAP diluted earnings per ADS, as supplemental measures to review and assess operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Company’s non-GAAP financial measures exclude the impact of share-based compensation expenses, fair value change of certain investments, and interest expenses related to the convertible bonds’ amortization to face value.

The Company presents these non-GAAP financial measures because they are used by management to evaluate operating performance and formulate business plans. The Company believes that the non-GAAP financial measures help identify underlying trends in its business by excluding the impact of share-based compensation expenses, fair value change of certain investments, and interest expenses related to the convertible bonds’ amortization to face value, which are non-cash charges. The Company also believes that the non-GAAP financial measures may provide further information about the Company’s results of operations, and enhance the overall understanding of the Company’s past performance and future prospects.

The Company’s non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. These non-GAAP financial measures do not reflect all items of income and expenses that affect the Company’s operations and do not represent the residual cash flow available for discretionary expenditures. Further, these non-GAAP measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited. The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating performance. The Company encourages you to review the Company’s financial information in its entirety and not rely on a single financial measure.

For more information on the non-GAAP financial measures, please see the table captioned “Reconciliation of Non-GAAP Measures to The Most Directly Comparable GAAP Measures” set forth at the end of this press release.

Safe Harbor Statements

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident,” “potential,” “continue” or other similar expressions. Among other things, the business outlook and quotations from management in this announcement, as well as the Company’s strategic and operational plans, contain forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s growth strategies; its future business development, results of operations and financial condition; its ability to understand buyer needs and provide products and services to attract and retain buyers; its ability to maintain and enhance the recognition and reputation of its brand; its ability to rely on merchants and third-party logistics service providers to provide delivery services to buyers; its ability to maintain and improve quality control policies and measures; its ability to establish and maintain relationships with merchants; trends and competition in the e-commerce markets globally and in the countries or regions where the Company has operations; changes in its revenues and certain cost or expense items; the expected growth of e-commerce markets globally and in the countries or regions where the Company has operations; developments in the relevant governmental policies and regulations relating to the Company’s industry; and general economic and business conditions globally and in the countries or regions where the Company has operations; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.

About PDD Holdings

PDD Holdings is a multinational commerce group that owns and operates a portfolio of businesses. PDD Holdings aims to bring more businesses and people into the digital economy so that local communities and small businesses can benefit from the increased productivity and new opportunities.

 

PDD HOLDINGS INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“US$”))

 

 

 

 

 

As of

 

 

December
31, 2022

 

September 30, 2023

 

 

RMB

 

RMB

 

US$

 

 

 

 

(Unaudited)

 

 

 

 

 

ASSETS

 

 

 

 

 

 

Current assets

 

 

 

 

 

 

Cash and cash equivalents

 

34,326,192

 

54,939,761

 

7,530,121

Restricted cash

 

57,974,225

 

56,413,498

 

7,732,113

Receivables from online payment platforms

 

587,696

 

2,547,134

 

349,114

Short-term investments

 

115,112,554

 

147,906,904

 

20,272,328

Amounts due from related parties

 

6,318,830

 

6,138,625

 

841,369

Prepayments and other current assets

 

2,298,379

 

3,629,894

 

497,518

Total current assets

 

216,617,876

 

271,575,816

 

37,222,563

 

 

 

 

 

 

 

Non-current assets

 

 

 

 

 

 

Property, equipment and software, net

 

1,044,847

 

1,065,180

 

145,995

Intangible assets

 

134,002

 

21,900

 

3,002

Right-of-use assets

 

1,416,081

 

3,662,756

 

502,022

Deferred tax assets

 

1,045,030

 

1,631,825

 

223,660

Other non-current assets

 

16,862,117

 

36,293,655

 

4,974,459

Total non-current assets

 

20,502,077

 

42,675,316

 

5,849,138

 

 

 

 

 

 

 

Total Assets

 

237,119,953

 

314,251,132

 

43,071,701


 

PDD HOLDINGS INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“US$”))

 

 

 

As of

 

December
31, 2022

 

September 30, 2023

 

RMB

 

RMB

 

US$

 

 

 

(Unaudited)

 

 

 

 

LIABILITIES AND SHAREHOLDERS’ EQUITY

 

 

 

Current liabilities

 

 

 

 

 

Amounts due to related parties

1,676,391

 

2,028,787

 

278,068

Customer advances and deferred revenues

1,389,655

 

2,043,857

 

280,134

Payable to merchants

63,316,695

 

68,099,716

 

9,333,843

Accrued expenses and other liabilities

20,960,723

 

43,936,446

 

6,021,992

Merchant deposits

15,058,229

 

16,282,948

 

2,231,764

Convertible bonds, current portion

13,885,751

 

14,351,445

 

1,967,029

Lease liabilities

602,036

 

1,381,067

 

189,291

Total current liabilities

116,889,480

 

148,124,266

 

20,302,121

 

 

 

 

 

 

Non-current liabilities

 

 

 

 

 

Convertible bonds

1,575,755

 

1,623,726

 

222,550

Lease liabilities

870,782

 

2,397,222

 

328,567

Deferred tax liabilities

13,025

 

55,903

 

7,662

Total non-current liabilities

2,459,562

 

4,076,851

 

558,779

 

 

 

 

 

 

Total Liabilities

119,349,042

 

152,201,117

 

20,860,900

 

 

 

 

 

 

 

 

 

 

 

 

Shareholders’ equity

 

 

 

 

 

Ordinary shares

170

 

177

 

24

Additional paid-in capital

99,250,468

 

104,152,729

 

14,275,319

Statutory reserves

5,000

 

5,000

 

685

Accumulated other comprehensive income

3,322,238

 

5,952,839

 

815,904

Retained earnings

15,193,035

 

51,939,270

 

7,118,869

Total Shareholders’ Equity

117,770,911

 

162,050,015

 

22,210,801

 

 

 

 

 

 

Total Liabilities and Shareholders’ Equity

237,119,953

 

314,251,132

 

43,071,701

 

 

 

 

 

 


 

PDD HOLDINGS INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME 
(Amounts in thousands of RMB and US$)

 

 

 

 

 

 

 

For the three months ended September 30,

 

For the nine months ended September 30,

 

 

2022

 

2023

 

2022

 

2023

 

 

RMB

 

RMB

 

US$

 

RMB

 

RMB

 

US$

 

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

Revenues

 

35,504,304

 

 

68,840,371

 

 

9,435,358

 

 

90,737,561

 

 

158,758,169

 

 

21,759,617

 

Costs of revenues

 

(7,414,132

)

 

(26,830,233

)

 

(3,677,390

)

 

(22,535,593

)

 

(56,645,305

)

 

(7,763,885

)

Sales and marketing expenses

 

(14,048,820

)

 

(21,748,449

)

 

(2,980,873

)

 

(36,611,335

)

 

(55,550,346

)

 

(7,613,808

)

General and administrative expenses

 

(906,573

)

 

(758,345

)

 

(103,940

)

 

(2,324,408

)

 

(2,170,780

)

 

(297,530

)

Research and development expenses

 

(2,698,166

)

 

(2,847,323

)

 

(390,258

)

 

(7,978,039

)

 

(8,087,944

)

 

(1,108,545

)

Total operating expenses

 

(17,653,559

)

 

(25,354,117

)

 

(3,475,071

)

 

(46,913,782

)

 

(65,809,070

)

 

(9,019,883

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating profit

 

10,436,613

 

 

16,656,021

 

 

2,282,897

 

 

21,288,186

 

 

36,303,794

 

 

4,975,849

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest and investment income, net

 

1,092,150

 

 

2,127,356

 

 

291,578

 

 

2,645,402

 

 

5,878,696

 

 

805,742

 

Interest expenses

 

(13,646

)

 

(12,208

)

 

(1,673

)

 

(39,434

)

 

(35,832

)

 

(4,911

)

Foreign exchange gain/ (loss)

 

53,374

 

 

94,860

 

 

13,002

 

 

(125,891

)

 

234,540

 

 

32,146

 

Other income, net

 

546,528

 

 

290,384

 

 

39,800

 

 

2,052,533

 

 

2,624,375

 

 

359,701

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Profit before income tax and share of results of equity investees

 

12,115,019

 

 

19,156,413

 

 

2,625,604

 

 

25,820,796

 

 

45,005,573

 

 

6,168,527

 

Share of results of equity investees

 

10,732

 

 

(105,811

)

 

(14,503

)

 

(76,377

)

 

10,359

 

 

1,420

 

Income tax expenses

 

(1,537,177

)

 

(3,513,480

)

 

(481,563

)

 

(3,660,054

)

 

(8,269,697

)

 

(1,133,456

)

Net income

 

10,588,574

 

 

15,537,122

 

 

2,129,538

 

 

22,084,365

 

 

36,746,235

 

 

5,036,491

 


 

PDD HOLDINGS INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Amounts in thousands of RMB and US$, except for per share data)

 

 

 

 

 

 

 

For the three months ended September 30,

 

For the nine months ended September 30,

 

 

2022

 

2023

 

2022

 

2023

 

 

RMB

 

RMB

 

US$

 

RMB

 

RMB

 

US$

 

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

10,588,574

 

15,537,122

 

2,129,538

 

22,084,365

 

36,746,235

 

5,036,491

Net income attributable to ordinary shareholders

 

10,588,574

 

15,537,122

 

2,129,538

 

22,084,365

 

36,746,235

 

5,036,491

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per ordinary share:

 

 

 

 

 

 

 

 

 

 

 

 

-Basic

 

2.10

 

2.84

 

0.39

 

4.38

 

6.81

 

0.93

-Diluted

 

1.84

 

2.65

 

0.36

 

3.86

 

6.28

 

0.86

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per ADS (4 ordinary shares equals 1 ADS ):

 

 

 

 

 

 

 

 

 

 

 

 

-Basic

 

8.38

 

11.38

 

1.56

 

17.52

 

27.24

 

3.73

-Diluted

 

7.34

 

10.60

 

1.45

 

15.43

 

25.13

 

3.44

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of outstanding ordinary shares (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

-Basic

 

5,051,256

 

5,462,542

 

5,462,542

 

5,043,522

 

5,395,211

 

5,395,211

-Diluted

 

5,776,165

 

5,865,102

 

5,865,102

 

5,733,453

 

5,853,748

 

5,853,748


 

PDD HOLDINGS INC.
NOTES TO FINANCIAL INFORMATION
(Amounts in thousands of RMB and US$)

 

 

 

 

 

 

 

For the three months ended September 30,

 

For the nine months ended September 30,

 

 

2022

 

2023

 

2022

 

2023

 

 

RMB

 

RMB

 

US$

 

RMB

 

RMB

 

US$

 

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

- Online marketing services and others

 

28,482,052

 

39,687,678

 

5,439,649

 

71,907,695

 

104,864,935

 

14,372,935

- Transaction services

 

7,022,252

 

29,152,693

 

3,995,709

 

18,829,866

 

53,893,234

 

7,386,682

Total

 

35,504,304

 

68,840,371

 

9,435,358

 

90,737,561

 

158,758,169

 

21,759,617

 

 

 

 

 

 

 

 

 

 

 

 

 


 

PDD HOLDINGS INC.
NOTES TO FINANCIAL INFORMATION
(Amounts in thousands of RMB and US$)

 

 

 

 

 

 

 

For the three months ended September 30,

 

For the nine months ended September 30,

 

 

2022

 

2023

 

2022

 

2023

 

 

RMB

 

RMB

 

US$

 

RMB

 

RMB

 

US$

 

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

Share-based compensation expenses included in:

 

 

 

 

 

 

 

 

 

 

 

 

Costs of revenues

 

5,841

 

20,422

 

2,799

 

22,011

 

86,066

 

11,796

Sales and marketing expenses

 

608,462

 

464,950

 

63,726

 

1,623,126

 

1,943,049

 

266,318

General and administrative expenses

 

680,252

 

355,053

 

48,664

 

1,724,567

 

1,058,914

 

145,136

Research and development expenses

 

570,327

 

629,394

 

86,266

 

1,862,276

 

1,805,821

 

247,508

Total

 

1,864,882

 

1,469,819

 

201,455

 

5,231,980

 

4,893,850

 

670,758

   

 

PDD HOLDINGS INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Amounts in thousands of RMB and US$)

 

 

 

 

 

 

 

For the three months ended September 30,

 

For the nine months ended September 30,

 

 

2022

 

2023

 

2022

 

2023

 

 

RMB

 

RMB

 

US$

 

RMB

 

RMB

 

US$

 

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

Net cash generated from operating activities

 

11,651,823

 

 

32,537,857

 

 

4,459,684

 

 

21,957,598

 

 

57,271,860

 

 

7,849,762

 

Net cash used in investing activities

 

(356,394

)

 

(4,820,500

)

 

(660,704

)

 

(13,801,754

)

 

(38,960,607

)

 

(5,339,995

)

Net cash generated from financing activities

 

258

 

 

385

 

 

53

 

 

569

 

 

7,671

 

 

1,051

 

Effect of exchange rate changes on cash, cash equivalents and restricted cash

 

250,227

 

 

201,058

 

 

27,557

 

 

209,551

 

 

733,918

 

 

100,591

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Increase in cash, cash equivalents and restricted cash

 

11,545,914

 

 

27,918,800

 

 

3,826,590

 

 

8,365,964

 

 

19,052,842

 

 

2,611,409

 

Cash, cash equivalents and restricted cash at beginning of period

 

62,864,021

 

 

83,434,459

 

 

11,435,644

 

 

66,043,971

 

 

92,300,417

 

 

12,650,825

 

Cash, cash equivalents and restricted cash at end of period

 

74,409,935

 

 

111,353,259

 

 

15,262,234

 

 

74,409,935

 

 

111,353,259

 

 

15,262,234

 


 

PDD HOLDINGS INC.
RECONCILIATION OF NON-GAAP MEASURES TO THE MOST DIRECTLY COMPARABLE GAAP MEASURES
(Amounts in thousands of RMB and US$, except for per share data)

 

 

 

 

 

 

 

For the three months ended September 30,

 

For the nine months ended September 30,

 

 

2022

 

2023

 

2022

 

2023

 

 

RMB

 

RMB

 

US$

 

RMB

 

RMB

 

US$

 

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

Operating profit

 

10,436,613

 

 

16,656,021

 

2,282,897

 

21,288,186

 

36,303,794

 

4,975,849

Add: Share-based compensation expenses

 

1,864,882

 

 

1,469,819

 

201,455

 

5,231,980

 

4,893,850

 

670,758

Non-GAAP operating profit

 

12,301,495

 

 

18,125,840

 

2,484,352

 

26,520,166

 

41,197,644

 

5,646,607

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to ordinary shareholders

 

10,588,574

 

 

15,537,122

 

2,129,538

 

22,084,365

 

36,746,235

 

5,036,491

Add: Share-based compensation expenses

 

1,864,882

 

 

1,469,819

 

201,455

 

5,231,980

 

4,893,850

 

670,758

Add: Interest expenses related to convertible bonds’ amortization to face value

 

13,646

 

 

12,208

 

1,673

 

39,434

 

35,832

 

4,911

Add: (Gain)/ loss from fair value change of certain investments

 

(19,886

)

 

7,935

 

1,088

 

68,173

 

746,915

 

102,373

Non-GAAP net income attributable to ordinary shareholders        

 

12,447,216

 

 

17,027,084

 

2,333,754

 

27,423,952

 

42,422,832

 

5,814,533

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-GAAP diluted weighted-average number of ordinary shares outstanding (in thousands)

 

5,776,165

 

 

5,865,102

 

5,865,102

 

5,733,453

 

5,853,748

 

5,853,748

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per ordinary share

 

1.84

 

 

2.65

 

0.36

 

3.86

 

6.28

 

0.86

Add: Non-GAAP adjustments to earnings per ordinary share

 

0.31

 

 

0.25

 

0.03

 

0.92

 

0.97

 

0.13

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-GAAP diluted earnings per ordinary share

 

2.15

 

 

2.90

 

0.39

 

4.78

 

7.25

 

0.99

Non-GAAP diluted earnings per ADS

 

8.62

 

 

11.61

 

1.55

 

19.13

 

28.99

 

3.96

____________________________

1 This announcement contains translations of certain Renminbi (“RMB”) amounts into U.S. dollars (“US$”) at a specified rate solely for the convenience of the reader. Unless otherwise noted, the translation of RMB into US$ has been made at RMB7.2960 to US$1.00, the noon buying rate in effect on September 29, 2023 as set forth in the H.10 Statistical Release of the Federal Reserve Board.
2 The Company’s non-GAAP financial measures exclude share-based compensation expenses, fair value change of certain investments, and interest expenses related to the convertible bonds’ amortization to face value. See “Reconciliation of Non-GAAP Measures to The Most Directly Comparable GAAP Measures” set forth at the end of this press release.

CONTACT: For investor and media inquiries, please contact: investor@pddholdings.com media@pddholdings.com


Advertisement