PDD Q2 revenue reached 97.1 billion RMB, continuing to increase investment to cope with industry competition
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On August 26, PDD released its second-quarter financial report, with revenue of 97.1 billion RMB, an 86% year-on-year increase. Chen Lei, Chairman and Co-CEO of Pinduoduo Group, stated that since the beginning of this year, competition in the e-commerce industry has intensified. The platform will invest billions of resources to support new high-quality merchants, waive billions in fees for high-quality merchants, continuously improve the quality and efficiency of the supply chain, enhance ecological governance, in response to the increasingly fierce industry competition
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