On the evening of March 21 Beijing time, pinduoduo released the financial reports for the fourth quarter of 2021 and the whole year of 2021. According to the data, pinduoduo's revenue in the fourth quarter of 2021 was 27.230.9 billion yuan, a year-on-year increase of 3%; The annual revenue in 2021 was 93.949 billion yuan, a year-on-year increase of 58%.
For the fourth quarter of 2021, the revenue was lower than the market expectation (30.12 billion yuan), Liu Jun, vice president of finance of pinduoduo, admitted that the company's revenue growth slowed down due to the slowdown of user growth and the fluctuation of user activities. At the same time, as the company adapts to the slowdown in growth, it controls its expenditure more and makes positive profits in the fourth quarter of 2021.
According to the financial report, pinduoduo achieved an operating profit of 6.907 billion yuan in the fourth quarter of 2021, and an operating loss of 2.047.8 billion yuan in the same period of 2020. Chen Lei, chairman and CEO of pinduoduo, said that the profits in the fourth quarter will be used in the field of agricultural research and technology.
turnover and average consumption of buyers achieved double growth
According to the financial report, by the end of 2021, the number of active buyers for many years had reached 868.7 million, an increase of 10% year-on-year, with an increase of about 1.4 million in a single quarter. In the fourth quarter of 2021, the average number of monthly active users of pinduoduo app was 733.4 million, a year-on-year increase of 2%.
In 2021, the annual turnover (Gmv) of pinduoduo platform was 2441 billion yuan, an increase of 46% over 1667.6 billion yuan in 2020; The average annual consumption of active buyers (ARPU) was 2810 yuan, an increase of 33% over 2115.2 yuan in 2020.
In terms of revenue, pinduoduo's revenue in the fourth quarter of 2021 was 27.230.9 billion yuan, a year-on-year increase of 3%; The annual revenue in 2021 was 93.949 billion yuan, a year-on-year increase of 58%, mainly due to the growth of online marketing technology service revenue and transaction service revenue.
According to the financial report, pinduoduo realized an operating profit of 6.907 billion yuan in the fourth quarter of 2021 due to the reduction of marketing expenses and one-time expense deduction, while the operating loss of pinduoduo in the same period of 2020 was 2.047.8 billion yuan; The net profit attributable to ordinary shareholders was RMB 6619.5 million, and the net loss attributable to ordinary shareholders of pinduoduo in the same period of 2020 was RMB 184.5 million.
From the whole year of 2021, pinduoduo achieved an operating profit of 6.896.8 billion yuan, an operating loss of 9.380.3 billion yuan in 2020, a net profit attributable to ordinary shareholders of 7.768.7 billion yuan and a net loss of 7.179.7 billion yuan in 2020.
As of December 31, 2021, pinduoduo's cash, cash equivalents and short-term investments were 92.9 billion yuan, compared with 87 billion yuan as of December 31, 2020.
profits invested in agricultural research technology
Chen Lei, chairman and CEO of pinduoduo, said that pinduoduo will shift its focus from marketing to R & D in 2021, which will lay a solid foundation for the long-term development of the company.
In the fourth quarter of 2021, pinduoduo's marketing expenses reached 11.365.8 billion yuan, a year-on-year decrease of 23%, and its R & D expenses reached 2.026 billion yuan, a year-on-year increase of 4%. In 2021, pinduoduo's marketing expenses were 44.801.7 billion yuan, a year-on-year increase of 9%; R & D expenses reached 8.992.6 billion yuan, a year-on-year increase of 30%.
In August 2021, pinduoduo announced the establishment of the "10 billion agricultural research project", continued to promote the universal benefit of agricultural science and technology, and invested all the profits in the second and third quarters of 2021 into the project.
Chen Lei said that the profits in the fourth quarter of 2021 will also be used in the field of agricultural research and technology, and continue to deepen pinduoduo's efforts in agricultural digitization, so as to promote more agricultural production areas and farmers directly connected to the digital economy.
"Agricultural development requires long-term patience and investment, and the profits in the fourth quarter will continue to be used to support the in-depth exploration of agricultural research and technology." Chen Lei said that in the past year, the company insisted on focusing on agriculture and made a new round of heavy investment in Shenzhen Agricultural Products Group Co.Ltd(000061) brand, agricultural talents and logistics and warehousing, which has achieved initial results.
Liu Jun revealed that under the strategy of Shenzhen Agricultural Products Group Co.Ltd(000061) "zero Commission" and re investment in agriculture, the increase of agricultural orders on the platform was particularly significant. Data show that in 2021, pinduoduo platform generated 61 billion orders, a year-on-year increase of 59%.
