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PDD Holdings PDD · USD

Consumer Discretionary · Internet & Direct Marketing Retail · US listing · 🇺🇸 United States

Nasdaq-100

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80.50

-3.05%

Close of 9 Nov 2026, in USD

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PDD Holdings annual report

Filed with the US Securities and Exchange Commission

20-F

The latest annual report covers the year to 31 Dec 2025, filed on 29 Apr 2026.

Read the 20-F on SEC.gov ↗

Five-year highlights

In CNY.

FY2025FY2024FY2023FY2022FY2021
RevenueCN¥431.85bnCN¥393.84bnCN¥247.64bnCN¥130.56bnCN¥93.95bn
Operating incomeCN¥93.10bnCN¥108.42bnCN¥58.70bnCN¥30.40bnCN¥6.90bn
Net incomeCN¥97.84bnCN¥112.43bnCN¥60.03bnCN¥31.54bnCN¥7.77bn
Free cash flowCN¥105.79bnCN¥120.96bnCN¥93.58bnCN¥6.40bnCN¥25.50bn
Total assetsCN¥630.45bnCN¥505.03bnCN¥348.08bnCN¥237.12bnCN¥181.21bn
Shareholders' equityCN¥415.17bnCN¥313.31bnCN¥187.24bnCN¥117.77bnCN¥75.11bn

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