PDD: Three-Step Customer Acquisition To Target High Spenders; Positive for GMV And Margin; Expect 3Q19 Performance To Be Better Than Consensus
PDD will report 3Q19 results on November 20th before the markets open with a 7:30am EST conference call. Based on our data and model, in 3Q19E, PDD’s revenue is likely to be higher than consensus at RMB7,414M (120% Y/Y growth) driven by its continuing efforts to tap into higher end customers while maintaining its existing lower tier city users. For the key factor sales & marketing expense, we estimate that in 3Q19 it is likely to be between RMB6.1B and RMB6.3B, and we believe the new loss margin is unlikely to widen more than in 2Q19.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.