EUR 224.95 For Business Accounts Only

PDD: Focus On User Acquisition And Retention Leading To Higher Volume Growth, Positive 4Q20 and January 2021 Performance

PDD will report 4Q20 results on March 17^th before the markets open with a 7:30am EST conference call. We are positive on PDD’s performance in 4Q20 and January 2021. PDD has been placing significant efforts on customer acquisition and retention by using innovative methods. In 4Q20, the company was trying to increase user stickiness by bringing more unique brands to its platform via its C2M program. In January, PDD had 4 major programs in place for such purpose, including “10 Billion Subsidies” (百亿补贴), “limited time spikes” (限时秒杀), “Non-Stop in Spring Festival” (春节不打烊) and “CNY Red Envelopes” (新春拼红包). PDD distributed RMB3 billion worth of red envelopes.