PDD(PDD)2024-08-26 20:01Financial Performance - Total revenues for Q1 2024 were RMB 86,812.1 million (US$ 12,023.3 million), a 131% increase from RMB 37,637.1 million in Q1 2023[2] - Operating profit for the quarter was RMB 25,973.7 million (US$ 3,597.3 million), up 275% from RMB 6,929.0 million in the same quarter of 2023[4] - Net income attributable to ordinary shareholders was RMB 27,997.8 million (US$ 3,877.7 million), a 246% increase from RMB 8,101.0 million in Q1 2023[6] - Revenues from transaction services reached RMB 44,355.8 million (US$ 6,143.2 million), a significant increase of 327% from RMB 10,392.6 million in the same quarter of 2023[4] - Total revenues for the three months ended March 31, 2024, reached RMB 86,812,059, a significant increase from RMB 37,637,050 in the same period of 2023, representing a growth of approximately 130%[18] - Operating profit surged to RMB 25,973,653 for the three months ended March 31, 2024, compared to RMB 6,929,018 in the same period of 2023, marking an increase of about 274%[18] - Net income attributable to ordinary shareholders for the three months ended March 31, 2024, was RMB 27,997,826, up from RMB 8,101,027 in the same period of 2023, reflecting a growth of approximately 245%[19] - Basic earnings per ordinary share increased to 5.08 for the three months ended March 31, 2024, compared to 1.53 in the same period of 2023, representing a rise of about 231%[19] Costs and Expenses - Total costs of revenues were RMB 32,694.7 million (US$ 4,528.2 million), a 194% increase from RMB 11,125.3 million in Q1 2023[4] - Research and development expenses were RMB 2,909.6 million (US$ 403.0 million), compared to RMB 2,506.7 million in the same quarter of 2023[5] - Non-GAAP operating profit for the quarter was RMB 28,552.2 million (US$ 3,954.4 million), an increase of 237% from RMB 8,462.4 million in Q1 2023[4] - Non-GAAP operating profit for the three months ended March 31, 2024, was RMB 28,552,195, compared to RMB 8,462,420 in the same period of 2023, indicating a growth of approximately 337%[27] Cash and Liabilities - Cash, cash equivalents, and short-term investments totaled RMB 242.1 billion (US$ 33.5 billion) as of March 31, 2024, compared to RMB 217.2 billion as of December 31, 2023[7] - Cash, cash equivalents, and restricted cash at the end of the period on March 31, 2024, totaled RMB 114,704,917, up from RMB 70,670,000 at the end of the previous period[25] - Net cash generated from operating activities for the three months ended March 31, 2024, was RMB 21,067,179, a substantial increase from RMB 1,338,022 in the same period of 2023[25] - Total current liabilities as of March 31, 2024, amounted to RMB 152,900,901, slightly up from RMB 151,398,009 as of December 31, 2023[17] - Total liabilities increased to RMB 160,836,513 as of December 31, 2023, compared to RMB 159,120,158 as of March 31, 2024[17] Strategic Focus - The company plans to focus on improving consumer experience and strengthening supply chain capabilities as part of its high-quality development strategy[3]