Shanghai, China – PDD Holdings Inc. conducted its Q1 2024 Earnings Conference Call on May 22, 2024, with top executives sharing insights into the company’s performance and strategic focus. Chairman and Co-CEO Lei Chen, Executive Director and Co-CEO Jiazhen Zhao, and VP of Finance Jun Liu led the call to discuss the company’s financial results for the first quarter of 2024.

Lei Chen highlighted the company’s significant revenue growth in the past quarter and emphasized the focus on high-quality development strategies. As PDD Holdings aims to deepen its execution in 2024, the company remains committed to enhancing its fundamental business aspects, including supporting high-quality consumption, expanding high-quality supply, and fostering a compliant ecosystem.

Jiazhen Zhao, Co-CEO, discussed the company’s initiatives to promote high-quality consumption by offering more savings and better services to consumers. The focus on service offerings and broadening the product selection to meet consumer demands was reiterated as a key strategy for sustainable growth.

Jun Liu provided detailed insights into the financial performance of PDD Holdings for the first quarter of 2024. Despite intensified competition, the company saw a significant increase in total revenues, driven by growth in online marketing services and transaction services. Cost of revenues and operating expenses also saw notable changes, reflecting the company’s strategic investments.

During the Q&A session, analysts raised questions on various topics, including competition evaluation, compliance efforts, growth potential, profitability, and the company’s agriculture strategy. Executives emphasized the importance of consumer-centric strategies, continued investments in high-quality development, and plans for expanding the agricultural product category while enhancing the overall supply chain efficiency.

As PDD Holdings continues its journey towards sustainable growth and value creation, the company remains focused on long-term strategies, investments, and innovation to meet evolving consumer needs and remain competitive in the e-commerce industry.