Pinduoduo's total market capitalization officially surpassed Alibaba's.
On November 30, Pinduoduo's share price was again **403%, and the latest stock price is 14744 yuan per share, with a total market capitalization of 19588.7 billion US dollars, about 1 yuan4 trillion.
Ali share price**028% and the latest share price is 74$88 per share, with a total market capitalization of 1904$5.2 billion.
This also means that the total market value of Pinduoduo has officially surpassed Alibaba and become the first e-commerce stock in China.
Pinduoduo's revenue for the third quarter of 2023 was 688400 million yuan, far exceeding market expectations of 548300 million yuan, an increase of 93 percent from 35.5 billion yuan in the same period last year9%, compared to 522 in Q2$8.1 billion, a net increase of nearly $16.6 billion in a single quarter; Achieved GAAP net profit of 155400 million yuan, net profit margin of 226%。
Alibaba Group's second-quarter fiscal 2024 results announcement released on November 16 showed that it achieved revenue of 2,247900 million yuan, a year-on-year increase of 9%; Operating profit 3358.4 billion yuan, a year-on-year increase of 34%; Adjusted EBITDA 492400 million yuan, a year-on-year increase of 14%; Adjusted net profit was 401900 million yuan, a year-on-year increase of 19%.
Although Alibaba's performance is also growing, the growth rate is far less than that of Pinduoduo, and at the same time, Pinduoduo's net profit margin is as high as 226%, which also significantly exceeded market expectations.
Pinduoduo's trading service revenue is as high as 2915.2 billion yuan, a year-on-year increase of 31515%, which is also considered by the market to be the biggest surprise.
Pinduoduo's transaction service revenue may mainly come from the high growth of its overseas business, Temu. The world's more mature cross-border e-commerce platforms include Amazon, AliExpress, etc., but they adopt the merchant's independent business model. Pinduoduo's Temu adopts a full custody model, that is, merchants only need to send the goods to Temu's domestic transit warehouse, and the Temu platform is fully responsible for the logistics, promotion, and streaming. Pinduoduo's low-price subsidy and user fission play continued on Temu, spending $14 million to run ads during the 2023 Super Bowl.
All businesses have far exceeded market expectations, and the capital market has chosen to respond with a surge.
Whether Pinduoduo's total market capitalization surpassing Ali is a flash in the pan or a complete loss, let's wait and see.