PDD (ADR) (PDD)
Operates Pinduoduo in China and Temu for international value-focused commerce.
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Runs Pinduoduo for interactive, value-focused commerce in China and Temu for international consumers. Revenue comes mainly from online marketing and transaction services provided to third-party merchants, while the group depends on external logistics partners and an ADS/VIE structure.
Operates Pinduoduo, an interactive China-facing marketplace built around team purchasing and demand aggregation, and Temu, an international marketplace connecting consumers with merchants, manufacturers, and brands. Duo Duo Grocery adds next-day pickup within the Pinduoduo app.
Earns primarily from online marketing and transaction services supplied to third-party merchants. The platforms use aggregated demand, merchant networks, and external logistics and fulfillment partners to match value-focused shoppers with merchandise across China and international markets.
Relies on a Cayman holding company, contractual arrangements with a Chinese variable-interest entity, and ADS ownership that does not confer equity in that entity. Temu also operates under local marketplace, product-safety, consumer-protection, tax, data, and customs regimes.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 7, 2026 | Arete Research | Target | Target: $121 | Target: $93 |
| Aug 24, 2026 | Deutsche Bank | Reiterate | Rating: —Target: — | Target: $105 |
| Jun 24, 2026 | Daiwa | Downgrade | ||
| Jun 24, 2026 | Daiwa Capital | Downgrade | ||
| Jun 23, 2026 | Daiwa | Downgrade | Rating: —Target: $180 | Target: $80 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $68.13B · Total debt $723.1M · Total assets $99.03B · Shareholders' equity $66.84B
- Revenue
- $16.77B
- Operating income
- $4.14B
- Net income
- $4.06B
Reported in CNY, converted at the latest exchange rate
No dividends on record.
| Institutions | 30.38% | 432.37M ADS | |
|---|---|---|---|
| 589 holders · as of Jun 30, 2026 | |||
| Insiders | 0.02% | 331.6K ADS | |
| 4 holders · as of Aug 4, 2026 | |||
| Other | 69.60% | 990.70M ADS | |
| remainder | |||
1.42B ADS (1 ADS = 4 ordinary shares) as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Two share counts disagree (1.42B in the company's Sep 22, 2026 report, 355.85M elsewhere); stakes use the report.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 2.25% | 31.97M ADS | as of Jun 30, 2026 |
Baillie Gifford & CoInstitution | 1.87% | 26.59M ADS | as of Jun 30, 2026 |
H&H International Investment, LLCInstitution | 1.76% | 25.02M ADS | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 1.73% | 24.65M ADS | as of Jun 30, 2026 |
Invesco Ltd.Institution | 1.56% | 22.23M ADS | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 3, 2026 | Anthony Ping Leung Kam | director | −1,705 | $82.20 |
| Mar 30, 2026 | Anthony Ping Leung Kam | director | −1,533 | $99.43 |
| Mar 30, 2026 | Ivonne MCM Rietjens | director | −560 | $99.59 |
- Alibaba Group (ADR)
Broadest overlap across China and cross-border marketplaces
- JD.com (ADR)
China retail and marketplace rival with owned fulfillment
- Amazon
Global marketplace benchmark in selection, price, and delivery
- eBay
International marketplace rival in value, selection, and reach
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| PDD (ADR) | $80.42 | +1.42% | $112.87B | 8.4 | 9.1 | 1.7 | +14.0% |
| Alibaba Group (ADR) | $116.64 | +0.77% | $277.46B | 26.3 | 17.7 | 1.8 | +14.7% |
| JD.com (ADR) | $27.47 | +0.68% | $38.30B | 18.0 | 8.6 | 0.2 | +2.5% |
| Amazon | $256.29 | −0.84% | $2.78T | 20.8 | 27.5 | 3.6 | +19.6% |
| eBay | $110.15 | +1.71% | $48.09B | 22.4 | 17.5 | 4.0 | +14.8% |
| Median | 21.6 | 17.6 | 2.7 | +14.8% |