PDD: Expect Strong 2Q Revenue Performance; Higher S&M Spending in 2Q20
PDD will report 2Q20 results on August 21st before the markets open with a 7:30am EST conference call. We are positive on PDD’s performance in 2Q20. In addition to the company’s significant marketing spending and subsidization, the pent-up demand from consumers and merchants participation of “6.18” deals also elevated the sales. On top of that, due to the social functions of its APP, the user engagement or shopping frequency showed continuing upward trends. Per user GMV on PDD is also likely to go up due to more sales of higher ticket value SKUs such as cell phones, computers and apparels.
T.H. Capital is an independent research and investment advisory firm specializing in China. We offers real-time, on-the-ground, bottom-up research across a wide spectrum from macro and industry analysis to company specific projects; from China ADRs to international names that have meaningful exposure to China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.
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