PDD Holdings: Will The Logistics Support to Expand Reach in Underserved Markets Grow Its Top-Line?

PDD Holdings Inc. reported robust financial results for the third quarter of 2024, with revenues reaching RMB 99.4 billion, reflecting a 44% increase year-over-year. Net income attributable to ordinary shareholders was RMB 25 billion, up from RMB 15.5 billion in the same quarter last year. Despite these strong figures, the company acknowledged a moderation in revenue growth compared to previous quarters and noted that profits have trended lower. This slowdown is attributed to intensified competition in the e-commerce sector and various external challenges impacting the business.