Pinduoduo Inc. (PDD) Q3 2022 Earnings Call Transcript

Pinduoduo Inc. (NASDAQ:PDD) Q3 2022 Results Conference Call November 28, 2022 7:30 AM ET

Company Participants

Chen Lei - Chairman & Chief Executive Officer

Liu Jun - Vice President, Finance

Conference Call Participants

Joyce Ju - Bank of America

Thomas Chong - Jefferies

Ellie Jiang - Macquarie

Kenneth Fong - Credit Suisse

Operator

Ladies and gentlemen, thank you for standing by. Welcome to PDD's Third Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. There will be a presentation followed by a question-and-answer session. [Operator Instructions] I must advise you that this conference is being recorded today.

I would now like to hand the conference over to your host today, Mr. [Chen Pang]. Sir, please go ahead

Unidentified Company Representative

Thank you, operator. Hello, everyone, and thank you for joining us today. My name is Chen, and I will help host the earnings call. PDD earnings release was distributed earlier and is available on IR website at investor.pddholdings.com, as well as through GlobeNewswire services.

Before we begin, I would like to refer you to our Safe Harbor statement in the earnings press release, which applies to this call, as we will make certain forward-looking statements. Also, this call includes discussions of certain non-GAAP financial measures. So please refer to our earnings release, which contains a reconciliation of non-GAAP measures to GAAP measures.

Joining us today on the call are Chen Lei, our Chairman and Chief Executive Officer; Liu Jun, our VP of Finance. Lei will make some general remarks on our performance for the past quarter and our strategic focus. Jun will then take us through our financial results for the third quarter ended September 30, 2022.

During the Q&A session, Lei will answer questions in Chinese and I will help translate. Please kindly note that all translations provided are for reference purposes only. In case of any discrepancy between original remarks and the translated version, statements in the original remarks should prevail.

Now, it is my pleasure to introduce our Chairman and Chief Executive Officer, Chen Lei. Lei, please go ahead.

Chen Lei

Thank you, Chen, and hello everyone. Thank you all for joining our 3Q 2022 earnings call. Let me start by giving a brief overview of our third quarter results. Our total revenue for this quarter was RMB35.5 billion. This represents a year-on-year increase of 65%. Over the past quarter, we worked closely with our merchant partners to serve our customers. We continue to provide our users with an enjoyable and affordable shopping experience to meet their growing demand for high quality and value for money product.