Lates News

Daiwa published a research report indicating that Pinduoduo's adjusted net income for the third quarter exceeded market expectations by 30%. Looking ahead, although Pinduoduo will continue to invest in its ecosystem, Daiwa believes that the reduction in losses for Pinduoduo's cross-border e-commerce platform Temu and stricter cost controls for domestic operations will support its net profit margin stability on an annual basis and leave room for profit margin improvement by 2026. Daiwa raised Pinduoduo's earnings per share forecast for 2025 to 2027 by 6% to 30% to reflect lower-than-expected sales and marketing expenses; reiterated a buy rating with a target price raised from $145 to $160.