PDD (the “Company”) (NASDAQ: PDD), today announced its unaudited
financial results for the third quarter ended September 30, 2022.
Third Quarter 2022
Highlights
- Total revenues in
the quarter were RMB35,504.3 million (US$1 4,991.1 million),
an increase of 65% from RMB21,505.8 million in the same quarter of
2021.
- Operating profit
in the quarter was RMB10,436.6 million (US$1,467.2 million), an
increase of 388% from RMB2,139.3 million in the same quarter of
2021. Non-GAAP2 operating
profit in the quarter was RMB12,301.5 million (US$1,729.3
million), an increase of 277% from RMB3,260.7 million in the same
quarter of 2021.
- Net income attributable to
ordinary shareholders in the quarter was RMB10,588.6
million (US$1,488.5 million), an increase of 546% from RMB1,640.0
million in the same quarter of 2021. Non-GAAP net income
attributable to ordinary shareholders in the quarter was
RMB12,447.2 million (US$1,749.8 million), an increase of 295% from
RMB3,150.2 million in the same quarter of 2021.
“We continued to deepen our value creation in
the third quarter,” said Mr. Lei Chen, Chairman and Chief Executive
Officer of PDD. “We will increase our R&D investment to further
enhance the supply chain efficiency and agricultural digital
inclusion.”
“Investment in certain projects was affected in
the third quarter,” said Ms. Jun Liu, VP of Finance of PDD. “We
will continue to step up our investment in R&D and create
long-term value through innovations.”
___________________________
1 This announcement contains translations of
certain Renminbi (RMB) amounts into U.S. dollars (US$) at a
specified rate solely for the convenience of the reader. Unless
otherwise noted, the translation of RMB into US$ has been made at
RMB7.1135 to US$1.00, the noon buying rate in effect on September
30, 2022 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
long-term investments, and interest expenses related to the
convertible bonds’ amortization to face value and gain or loss on
extinguishment. See “Reconciliation of Non-GAAP Measures to The
Most Directly Comparable GAAP Measures” set forth at the end of
this press release.
Third Quarter 2022 Unaudited Financial
Results
Total revenues were RMB35,504.3
million (US$4,991.1 million), an increase of 65% from RMB21,505.8
million in the same quarter of 2021. The increase was primarily due
to an increase in revenues from online marketing services and
transaction services, offset by the decrease of revenues from
merchandise sales.
- Revenues from online
marketing services and others were RMB28,425.6 million
(US$3,996.0 million), an increase of 58% from RMB17,946.5 million
in the same quarter of 2021.
- Revenues from transaction
services were RMB7,022.3 million (US$987.2 million), an
increase of 102% from RMB3,477.1 million in the same quarter of
2021.
- Revenues from merchandise
sales were RMB56.4 million (US$7.9 million), a decrease of
31% from RMB82.1 million in the same quarter of 2021.
Total costs of revenues were
RMB7,414.1 million (US$1,042.3 million), an increase of 13% from
RMB6,558.6 million in the same quarter of 2021. The increase mainly
came from increased fulfillment fees and payment processing
fees.
Total operating expenses were
RMB17,653.6 million (US$2,481.7 million), an increase of 38% from
RMB12,807.8 million in the same quarter of 2021.
- Sales and marketing
expenses were RMB14,048.8 million (US$1,975.0 million), an
increase of 40% from RMB10,050.6 million in the same quarter of
2021, mainly due to increased spending in promotion and advertising
activities.
- General and administrative
expenses were RMB906.6 million (US$127.4 million), an
increase of 171% from RMB334.8 million in the same quarter of 2021,
primarily due to an increase in staff related costs.
- Research and development
expenses were RMB2,698.2 million (US$379.3 million), an
increase of 11% from RMB2,422.4 million in the same quarter of
2021. The increase was primarily due to an increase in headcount
and the recruitment of more experienced R&D personnel.
Operating profit in the quarter
was RMB10,436.6 million (US$1,467.2 million), an increase of 388%
from RMB2,139.3 million in the same quarter of 2021.
Non-GAAP operating profit in the quarter was
RMB12,301.5 million (US$1,729.3 million), an increase of 277% from
RMB3,260.7 million in the same quarter of 2021.
Net income attributable to ordinary
shareholders in the quarter was RMB10,588.6 million
(US$1,488.5 million), an increase of 546% from RMB1,640.0 million
in the same quarter of 2021. Non-GAAP net income
attributable to ordinary shareholders in the quarter was
RMB12,447.2 million (US$1,749.8 million), an increase of 295% from
RMB3,150.2 million in the same quarter of 2021.
Basic earnings per ADS was
RMB8.38 (US$1.18) and diluted earnings per ADS was
RMB7.34 (US$1.03), compared with basic earnings per ADS of RMB1.31
and diluted earnings per ADS of RMB1.15 in the same quarter of
2021. Non-GAAP diluted earnings per ADS was
RMB8.62 (US$1.21), compared with RMB2.18 in the same quarter of
2021.
Net cash flow provided by operating
activities was RMB11,651.8 million (US$1,638.0 million),
compared with RMB8,736.6 million in the same quarter of 2021,
mainly due to the increase in net income and the changes in working
capitals.
Cash, cash equivalents and short-term
investments were RMB137.8 billion (US$19.4 billion) as of
September 30, 2022, compared with RMB92.9 billion as of December
31, 2021.
Conference Call
The Company will host a conference call to
discuss the earnings at 7:30 AM U.S. Eastern Time on Monday,
November 28, 2022 (8:30 PM Beijing/Hong Kong Time on Monday,
November 28, 2022).
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 and non-GAAP net income attributable to ordinary
shareholders, 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 share-based compensation expenses, fair
value change of long-term investments, and interest expenses
related to the convertible bonds’ amortization to face value and
gain or loss on extinguishment.
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 long-term investments, and interest
expenses related to the convertible bonds’ amortization to face
value and gain or loss on extinguishment, which are non-cash
charges. The Company also believes that the non-GAAP financial
measures could 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 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. The Company’s 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
China’s and global e-commerce markets; changes in its revenues and
certain cost or expense items; the expected growth of China’s and
global e-commerce markets; PRC governmental policies and
regulations relating to the Company’s industry, and general
economic and business conditions globally and in China 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
PDD is a multinational commerce group that owns
and operates a portfolio of businesses. PDD 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 convenience through new opportunities.
For more information, please visit
www.pddholdings.com.
PDD CONDENSED CONSOLIDATED BALANCE SHEETS(Amounts in thousands
of Renminbi (“RMB”) and U.S. dollars (“US$”)) |
|
|
As of |
|
December31, 2021 |
|
September 30, 2022 |
|
RMB |
|
RMB |
|
US$ |
|
|
|
(Unaudited) |
|
|
|
|
ASSETS |
|
|
|
|
|
Current
assets |
|
|
|
|
|
Cash and cash equivalents |
6,426,715 |
|
25,601,547 |
|
3,599,009 |
Restricted cash |
59,617,256 |
|
48,808,388 |
|
6,861,375 |
Receivables from online
payment platforms |
673,737 |
|
476,329 |
|
66,961 |
Short-term investments |
86,516,618 |
|
112,207,949 |
|
15,773,944 |
Amounts due from related
parties |
4,250,155 |
|
4,680,281 |
|
657,943 |
Prepayments and other current
assets |
3,424,687 |
|
1,795,802 |
|
252,448 |
Total current
assets |
160,909,168 |
|
193,570,296 |
|
27,211,680 |
|
|
|
|
|
|
Non-current
assets |
|
|
|
|
|
Property, equipment and
software, net |
2,203,323 |
|
1,148,010 |
|
161,385 |
Intangible assets |
701,220 |
|
297,856 |
|
41,872 |
Right-of-use assets |
938,537 |
|
1,235,435 |
|
173,675 |
Deferred tax assets |
31,504 |
|
27,707 |
|
3,895 |
Other non-current assets |
16,425,966 |
|
12,828,680 |
|
1,803,427 |
Total non-current
assets |
20,300,550 |
|
15,537,688 |
|
2,184,254 |
|
|
|
|
|
|
Total
Assets |
181,209,718 |
|
209,107,984 |
|
29,395,934 |
PDD CONDENSED CONSOLIDATED BALANCE SHEETS(Amounts in thousands
of Renminbi (“RMB”) and U.S. dollars (“US$”)) |
|
|
As of |
|
December 31, 2021 |
|
September 30, 2022 |
|
RMB |
|
RMB |
|
US$ |
|
|
|
(Unaudited) |
|
|
|
|
LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
|
|
Current
liabilities |
|
|
|
|
|
Amounts due to related parties |
1,963,007 |
|
|
2,600,563 |
|
365,581 |
Customer advances and deferred
revenues |
1,166,764 |
|
|
1,391,560 |
|
195,622 |
Payable to merchants |
62,509,714 |
|
|
51,562,514 |
|
7,248,543 |
Accrued expenses and other
liabilities |
14,085,513 |
|
|
14,242,036 |
|
2,002,114 |
Merchant deposits |
13,577,552 |
|
|
15,122,695 |
|
2,125,915 |
Lease liabilities |
427,164 |
|
|
512,838 |
|
72,094 |
Total current
liabilities |
93,729,714 |
|
|
85,432,206 |
|
12,009,869 |
|
|
|
|
|
|
Non-current
liabilities |
|
|
|
|
|
Convertible bonds3 |
11,788,907 |
|
|
15,749,603 |
|
2,214,044 |
Lease liabilities |
544,263 |
|
|
750,257 |
|
105,469 |
Deferred tax liabilities |
31,291 |
|
|
46,047 |
|
6,473 |
Other non-current
liabilities |
996 |
|
|
- |
|
- |
Total non-current
liabilities |
12,365,457 |
|
|
16,545,907 |
|
2,325,986 |
|
|
|
|
|
|
Total
Liabilities |
106,095,171 |
|
|
101,978,113 |
|
14,335,855 |
|
|
|
|
|
|
|
|
|
|
|
|
Shareholders’
equity |
|
|
|
|
|
Ordinary shares |
161 |
|
|
162 |
|
23 |
Additional paid-in
capital3 |
95,340,819 |
|
|
96,754,398 |
|
13,601,518 |
Accumulated other
comprehensive (loss)/ income3 |
(2,519,900 |
) |
|
4,630,973 |
|
651,012 |
Accumulated (deficits)/
surplus3 |
(17,706,533 |
) |
|
5,744,338 |
|
807,526 |
Total Shareholders’
Equity |
75,114,547 |
|
|
107,129,871 |
|
15,060,079 |
|
|
|
|
|
|
Total Liabilities and
Shareholders’ Equity |
181,209,718 |
|
|
209,107,984 |
|
29,395,934 |
|
|
|
|
|
|
___________________________
3 The Company adopted ASU No. 2020-06,
Accounting for Convertible Instruments and Contracts in an Entity’s
Own Equity (“ASU 2020-06”) on January 1, 2022, using the modified
retrospective method with a cumulative-effect adjustment to the
opening balance of convertible bonds, additional paid-in capital,
accumulated other comprehensive income/ (loss) and accumulated
surplus/ (deficits).
PDD CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Amounts
in thousands of RMB and US$) |
|
|
|
For the three months ended September 30, |
|
For the nine months ended September 30, |
|
|
2021 |
|
2022 |
|
2021 |
|
2022 |
|
|
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
|
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
Revenues |
|
21,505,758 |
|
|
35,504,304 |
|
|
4,991,116 |
|
|
66,719,077 |
|
|
90,737,561 |
|
|
12,755,684 |
|
Costs of revenues |
|
(6,558,648 |
) |
|
(7,414,132 |
) |
|
(1,042,262 |
) |
|
(25,202,584 |
) |
|
(22,535,593 |
) |
|
(3,168,004 |
) |
Gross
profit |
|
14,947,110 |
|
|
28,090,172 |
|
|
3,948,854 |
|
|
41,516,493 |
|
|
68,201,968 |
|
|
9,587,680 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and marketing
expenses |
|
(10,050,611 |
) |
|
(14,048,820 |
) |
|
(1,974,952 |
) |
|
(33,435,891 |
) |
|
(36,611,335 |
) |
|
(5,146,740 |
) |
General and administrative
expenses |
|
(334,806 |
) |
|
(906,573 |
) |
|
(127,444 |
) |
|
(1,120,812 |
) |
|
(2,324,408 |
) |
|
(326,760 |
) |
Research and development
expenses |
|
(2,422,421 |
) |
|
(2,698,166 |
) |
|
(379,302 |
) |
|
(6,969,995 |
) |
|
(7,978,039 |
) |
|
(1,121,534 |
) |
Total operating
expenses |
|
(12,807,838 |
) |
|
(17,653,559 |
) |
|
(2,481,698 |
) |
|
(41,526,698 |
) |
|
(46,913,782 |
) |
|
(6,595,034 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating profit/
(loss) |
|
2,139,272 |
|
|
10,436,613 |
|
|
1,467,156 |
|
|
(10,205 |
) |
|
21,288,186 |
|
|
2,992,646 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest and investment
income, net |
|
631,913 |
|
|
1,092,150 |
|
|
153,532 |
|
|
2,147,019 |
|
|
2,645,402 |
|
|
371,885 |
|
Interest expenses |
|
(298,431 |
) |
|
(13,646 |
) |
|
(1,918 |
) |
|
(927,886 |
) |
|
(39,434 |
) |
|
(5,544 |
) |
Foreign exchange (loss)/
gain |
|
(10,433 |
) |
|
53,374 |
|
|
7,503 |
|
|
23,645 |
|
|
(125,891 |
) |
|
(17,697 |
) |
Other (loss)/ income, net |
|
(52,606 |
) |
|
546,528 |
|
|
76,829 |
|
|
541,169 |
|
|
2,052,533 |
|
|
288,540 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit before income
tax and share of results of equity investees |
|
2,409,715 |
|
|
12,115,019 |
|
|
1,703,102 |
|
|
1,773,742 |
|
|
25,820,796 |
|
|
3,629,830 |
|
Share of results of equity
investees |
|
85,011 |
|
|
10,732 |
|
|
1,509 |
|
|
230,148 |
|
|
(76,377 |
) |
|
(10,737 |
) |
Income tax expenses |
|
(854,766 |
) |
|
(1,537,177 |
) |
|
(216,093 |
) |
|
(854,766 |
) |
|
(3,660,054 |
) |
|
(514,522 |
) |
Net
income |
|
1,639,960 |
|
|
10,588,574 |
|
|
1,488,518 |
|
|
1,149,124 |
|
|
22,084,365 |
|
|
3,104,571 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PDDCONDENSED CONSOLIDATED STATEMENTS OF INCOME(Amounts in thousands
of RMB and US$, except for per share data) |
|
|
|
For the three months ended September 30, |
|
For the nine months ended September 30, |
|
|
2021 |
|
2022 |
|
2021 |
|
2022 |
|
|
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
|
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
income |
|
1,639,960 |
|
10,588,574 |
|
1,488,518 |
|
1,149,124 |
|
22,084,365 |
|
3,104,571 |
Net income
attributable to ordinary shareholders |
|
1,639,960 |
|
10,588,574 |
|
1,488,518 |
|
1,149,124 |
|
22,084,365 |
|
3,104,571 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per ordinary
share: |
|
|
|
|
|
|
|
|
|
|
|
|
-Basic |
|
0.33 |
|
2.10 |
|
0.29 |
|
0.23 |
|
4.38 |
|
0.62 |
-Diluted |
|
0.29 |
|
1.84 |
|
0.26 |
|
0.20 |
|
3.86 |
|
0.54 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per ADS (4
ordinary shares equals 1 ADS ): |
|
|
|
|
|
|
|
|
|
|
|
|
-Basic |
|
1.31 |
|
8.38 |
|
1.18 |
|
0.92 |
|
17.52 |
|
2.46 |
-Diluted |
|
1.15 |
|
7.34 |
|
1.03 |
|
0.80 |
|
15.43 |
|
2.17 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of outstanding ordinary shares (in thousands): |
|
|
|
|
|
|
|
|
|
|
|
|
-Basic |
|
5,021,164 |
|
5,051,256 |
|
5,051,256 |
|
5,006,285 |
|
5,043,522 |
|
5,043,522 |
-Diluted |
|
5,703,986 |
|
5,776,165 |
|
5,776,165 |
|
5,715,932 |
|
5,733,453 |
|
5,733,453 |
PDDNOTES TO FINANCIAL INFORMATION(Amounts in thousands of RMB and
US$) |
|
|
|
For the three months ended September 30, |
|
For the nine months ended September 30, |
|
|
2021 |
|
2022 |
|
2021 |
|
2022 |
|
|
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
|
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
- Online marketing services and others |
|
17,946,496 |
|
28,425,645 |
|
3,996,014 |
|
50,138,401 |
|
71,756,721 |
|
10,087,399 |
- Transaction services |
|
3,477,147 |
|
7,022,252 |
|
987,173 |
|
9,416,260 |
|
18,829,866 |
|
2,647,061 |
- Merchandise sales |
|
82,115 |
|
56,407 |
|
7,929 |
|
7,164,416 |
|
150,974 |
|
21,224 |
Total |
|
21,505,758 |
|
35,504,304 |
|
4,991,116 |
|
66,719,077 |
|
90,737,561 |
|
12,755,684 |
|
|
|
|
|
|
|
|
|
|
|
|
|
PDDNOTES TO FINANCIAL INFORMATION(Amounts in thousands of RMB and
US$) |
|
|
|
|
|
|
|
For the three months ended September 30, |
|
For the nine months ended September 30, |
|
|
2021 |
|
2022 |
|
2021 |
|
2022 |
|
|
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
|
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
Share-based
compensation costs included in: |
|
|
|
|
|
|
|
|
|
|
|
|
Costs of revenues |
|
9,089 |
|
5,841 |
|
821 |
|
20,895 |
|
22,011 |
|
3,094 |
Sales and marketing
expenses |
|
384,704 |
|
608,462 |
|
85,536 |
|
1,067,727 |
|
1,623,126 |
|
228,175 |
General and administrative
expenses |
|
156,731 |
|
680,252 |
|
95,628 |
|
568,266 |
|
1,724,567 |
|
242,436 |
Research and development
expenses |
|
570,929 |
|
570,327 |
|
80,176 |
|
1,625,137 |
|
1,862,276 |
|
261,795 |
Total |
|
1,121,453 |
|
1,864,882 |
|
262,161 |
|
3,282,025 |
|
5,231,980 |
|
735,500 |
|
|
|
|
|
|
|
|
|
|
|
|
|
PDD CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Amounts
in thousands of RMB and US$) |
|
|
|
|
|
|
|
For the three months ended September 30, |
|
For the nine months ended September 30, |
|
|
2021 |
|
2022 |
|
2021 |
|
2022 |
|
|
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
|
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
Net cash generated from operating activities |
|
8,736,568 |
|
|
11,651,823 |
|
|
1,637,990 |
|
|
12,383,236 |
|
|
21,957,598 |
|
|
3,086,752 |
|
Net cash used in investing
activities |
|
(13,764,757 |
) |
|
(356,394 |
) |
|
(50,102 |
) |
|
(22,869,860 |
) |
|
(13,801,754 |
) |
|
(1,940,220 |
) |
Net cash generated from/ (used
in) financing activities |
|
146 |
|
|
258 |
|
|
36 |
|
|
(1,875,347 |
) |
|
569 |
|
|
80 |
|
Effect of exchange rate
changes on cash, cash equivalents and restricted cash |
|
22,160 |
|
|
250,227 |
|
|
35,176 |
|
|
(118,703 |
) |
|
209,551 |
|
|
29,458 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Decrease)/ increase in cash,
cash equivalents and restricted cash |
|
(5,005,883 |
) |
|
11,545,914 |
|
|
1,623,100 |
|
|
(12,480,674 |
) |
|
8,365,964 |
|
|
1,176,070 |
|
Cash, cash equivalents
and restricted cash at beginning of period |
|
67,368,845 |
|
|
62,864,021 |
|
|
8,837,284 |
|
|
74,843,636 |
|
|
66,043,971 |
|
|
9,284,314 |
|
Cash, cash equivalents
and restricted cash at end of period |
|
62,362,962 |
|
|
74,409,935 |
|
|
10,460,384 |
|
|
62,362,962 |
|
|
74,409,935 |
|
|
10,460,384 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PDDRECONCILIATION OF NON-GAAP MEASURES TO THE MOST DIRECTLY
COMPARABLE GAAP MEASURES(Amounts in thousands of RMB and US$,
except for per share data) |
|
|
|
|
|
|
|
For the three months ended September 30, |
|
For the nine months ended September 30, |
|
|
2021 |
|
2022 |
|
2021 |
|
2022 |
|
|
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
|
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
Operating profit/ (loss) |
|
2,139,272 |
|
10,436,613 |
|
|
1,467,156 |
|
|
(10,205 |
) |
|
21,288,186 |
|
2,992,646 |
Add: Share-based
compensation |
|
1,121,453 |
|
1,864,882 |
|
|
262,161 |
|
|
3,282,025 |
|
|
5,231,980 |
|
735,500 |
Non-GAAP operating
profit |
|
3,260,725 |
|
12,301,495 |
|
|
1,729,317 |
|
|
3,271,820 |
|
|
26,520,166 |
|
3,728,146 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable to
ordinary shareholders |
|
1,639,960 |
|
10,588,574 |
|
|
1,488,518 |
|
|
1,149,124 |
|
|
22,084,365 |
|
3,104,571 |
Add: Share-based
compensation |
|
1,121,453 |
|
1,864,882 |
|
|
262,161 |
|
|
3,282,025 |
|
|
5,231,980 |
|
735,500 |
Add: Interest expense related
to convertible bonds’ amortization to face value and gain or loss
on extinguishment, net |
|
298,443 |
|
13,646 |
|
|
1,918 |
|
|
915,917 |
|
|
39,434 |
|
5,544 |
Add: Loss/ (gain) from fair
value changes of long-term investments |
|
90,300 |
|
(19,886 |
) |
|
(2,796 |
) |
|
38,064 |
|
|
68,173 |
|
9,584 |
Non-GAAP net income
attributable to ordinary shareholders |
|
3,150,156 |
|
12,447,216 |
|
|
1,749,801 |
|
|
5,385,130 |
|
|
27,423,952 |
|
3,855,199 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP diluted
weighted-average number of ordinary shares outstanding (in
thousands) |
|
5,767,207 |
|
5,776,165 |
|
|
5,776,165 |
|
|
5,789,157 |
|
|
5,733,453 |
|
5,733,453 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per ordinary
share |
|
0.29 |
|
1.84 |
|
|
0.26 |
|
|
0.20 |
|
|
3.86 |
|
0.54 |
Add: Non-GAAP adjustments to
earnings per ordinary share |
|
0.26 |
|
0.31 |
|
|
0.04 |
|
|
0.73 |
|
|
0.92 |
|
0.13 |
Non-GAAP diluted earnings per
ordinary share |
|
0.55 |
|
2.15 |
|
|
0.30 |
|
|
0.93 |
|
|
4.78 |
|
0.67 |
Non-GAAP diluted earnings per
ADS |
|
2.18 |
|
8.62 |
|
|
1.21 |
|
|
3.72 |
|
|
19.13 |
|
2.69 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For investor and media inquiries, please contact:
investor@pddholdings.com
media@pddholdings.com
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