PDD Holdings (PDD) Q4 (USD): EPS 2.53 (exp. 3.41), Revenue 17.7bln (exp. 18.05bln)

• Operating profit RMB 27.72bln (vs 25.59bln Y/Y)
• Adj. operating profit RMB 29.47bln (vs 27.99bln Y/Y)

COMMENTARY:

• Firmly committed to our strategic focus on high-quality development
• Supply chain investment is where it will place its greatest conviction
• Committed to dedicating significant resources, with an all-in mindset, to drive lasting benefits to the entire ecosystem
• External environment and competitive landscape are undergoing rapid changes, to meet the evolving needs of consumers, must continually explore and make investments
• Investments are firm and long-term, will inevitably affect financial performance