T. H. Data Flash - Pinduoduo Inc. (PDD) – 4Q20E: Positive On 4Q20E Performance Driven By Volume Growth And User Frequency
We are positive on PDD’s performance into 4Q20E. Recently, there was negative news surrounding PDD in China, however, we believe these negatives are likely to be behind the company soon. PDD has been aggressively developing its new business community grocery group-buying business “Duoduo Maicai”. By December 8th, it has already entered 20 provinces and 214 cities, vs. 16 cities as of September 24, 2020. In addition, the company has been trying to integrate the local community buying traffic with its APP online with some online agricultural promotional programs.
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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