← PDD Holdings Inc.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Net Income From Continuing Operations | — | — | — | — | — | — | $31.5b | $60.0b | $112.4b | $97.8b | $97.8b | |
| Net Income (Loss) Attributable to Parent | ($292.0m) |
($525.1m)
-79.85%
|
($1.5b)
-182.99%
|
($1.0b)
+32.65%
|
($1.1b)
-9.94%
|
$7.8b
+806.02%
|
$4.6b
-41.14%
|
$8.5b
+84.90%
|
$15.4b
+82.19%
|
$14.0b
-9.17%
|
— | |
| Net Income (Loss) Available to Common Stockholders, Basic | ($292.0m) |
($498.7m)
-70.80%
|
($1.5b)
-200.33%
|
($1.0b)
+33.18%
|
($1.1b)
-9.94%
|
$7.8b
+806.02%
|
$4.6b
-41.14%
|
$8.5b
+84.90%
|
$15.4b
+82.19%
|
$14.0b
-9.17%
|
— | |
| Depreciation and amortization | $756k | $2.3m | $72.3m | $91.6m | $99.8m | $1.5b | $322.5m | $110.7m | $97.1m | $86.0m | $3.0b | |
| Amortization of Intangible Assets | — | — | $71.4m | $89.0m | $95.6m | $583.4m | $88.2m | $16.1m | — | — | — | |
| Depreciation | $756k | $2.3m | $863k | $2.6m | $4.3m | $912.0m | $234.2m | $94.7m | $96.6m | $85.5m | $3.0b | |
| Amortization of right-of-use assets | — | — | — | $73.2m | $148.9m | $348.9m | $510.9m | $1.1b | $1.9b | $2.4b | — | |
| Amortization Cash Flow | — | — | — | — | — | $583.4m | $608.6m | $114.2m | — | — | — | |
| Amortization Of Intangibles | — | — | — | — | — | $583.4m | $608.6m | $114.2m | — | — | $114.2m | |
| Depreciation Amortization Depletion | — | — | — | — | — | — | $2.7b | $1.9b | $2.6b | $3.0b | $3.0b | |
| Deferred Income Tax Expense (Benefit) | — | $0 | $0 | $0 | $0 | ($213k) | ($149.1m) | $112.8m | $30.4m | ($26.0m) | ($181.9m) | |
| Deferred income tax, net | — | — | — | $0 | $0 | ($213k) | ($1.0b) | $801.1m | $222.2m | ($181.9m) | ($181.9m) | |
| Deferred Tax | — | — | — | — | — | — | ($1.0b) | $801.1m | $222.2m | ($181.9m) | ($181.9m) | |
| Share-based Payment Arrangement, Noncash Expense | — | $13.4m | $995.1m | $367.4m | $553.7m | $4.8b | $1.1b | $997.0m | $1.4b | $1.1b | $7.9b | |
| Share-based Payment Arrangement, Expense | — | $116.5m | $995.1m | $367.4m | $553.7m | $4.8b | $1.1b | $997.0m | $1.4b | $1.1b | $7.9b | |
| Share-based compensation | $4.1m | $13.4m | $6.8b | $2.6b | $3.6b | $4.8b | $7.7b | $7.1b | $9.9b | $7.9b | $7.9b | |
| Equity Method Investment, Other than Temporary Impairment | — | — | — | — | — | $0 | $0 | $0 | $0 | $0 | — | |
| Impairment of Intangible Assets, Finite-lived | — | — | $0 | $0 | $0 | $0 | $0 | $0 | — | — | — | |
| Income (Loss) from Equity Method Investments | — | — | — | $4.1m | $12.8m | $246.8m | ($22.5m) | ($663k) | $2.4m | $18.4m | — | |
| Other Nonoperating Income (Expense) | — | $1.4m | ($1.8m) | $11.9m | $29.7m | $656.3m | $322.1m | $415.9m | $427.4m | $389.9m | — | |
| Earnings (Loss)es From Equity Investments | — | — | — | — | — | — | $155.3m | $4.7m | ($17.2m) | ($129.0m) | ($129.0m) | |
| Changes in operating assets and liabilities: | ||||||||||||
| Change In Working Capital | — | — | — | — | — | — | $7.4b | $26.5b | $6.7b | $7.4b | $7.4b | |
| Increase (Decrease) in Accounts Receivable | — | — | — | $115.4m | ($49.3m) | ($55.8m) | ($12.5m) | $468.5m | ($6.7m) | $217.9m | ($4.0b) | |
| Receivables from online payment platforms | ($8.3m) | ($77.9m) | ($159.4m) | ($803.4m) | $321.4m | $55.8m | $86.0m | ($3.3b) | $48.8m | ($1.5b) | — | |
| Change In Receivables | — | — | — | — | — | — | ($2.0b) | ($4.4b) | ($92.3m) | ($4.0b) | ($4.0b) | |
| Changes In Account Receivables | — | — | — | — | — | — | $86.0m | ($3.3b) | $48.8m | ($1.5b) | ($4.0b) | |
| Change In Payables And Accrued Expense | — | — | — | — | — | — | $7.5b | $45.4b | $30.2b | $28.0b | $15.3b | |
| Customer advances and deferred revenues | — | — | $135.0m | $414.5m | $1.8b | ($1.3b) | $222.9m | $755.0m | $802.4m | $431.7m | — | |
| Accrued expenses and other liabilities | ($95.4m) | $318.4m | $1.9b | $2.6b | $5.8b | $3.5b | $7.0b | $34.3b | $13.8b | $12.4b | — | |
| Purchase of property, equipment and software included in accrued expenses and other liabilities | — | $198k | $1.3m | $2.2m | $162.6m | $194.4m | $136.4m | $257.2m | $43.7m | $84.1m | — | |
| Change In Accrued Expense | — | — | — | — | — | — | $7.0b | $34.3b | $13.8b | $12.4b | $12.4b | |
| Prepayments and other current assets | $98.7m | ($87.6m) | ($788.6m) | $12.4m | ($4.0b) | $1.7b | $758.3m | ($2.1b) | ($782.0m) | ($3.7b) | — | |
| Change In Other Current Assets | — | — | — | — | — | — | ($34.5m) | ($14.0b) | ($21.2b) | ($12.6b) | ($12.6b) | |
| Change In Other Current Liabilities | — | — | — | — | — | — | ($488.1m) | ($977.8m) | ($1.9b) | ($2.1b) | ($2.1b) | |
| Net Cash Provided by (Used in) Operating Activities | $879.8m |
$9.7b
+1001.00%
|
$1.1b
-88.34%
|
$2.1b
+88.43%
|
$4.3b
+102.98%
|
$28.8b
+566.07%
|
$7.0b
-75.57%
|
$13.3b
+88.58%
|
$16.7b
+25.95%
|
$15.3b
-8.45%
|
$106.9b
+599.31%
|
|
| Cash flows from investing activities: | ||||||||||||
| Gain (Loss) on Disposition of Property Plant Equipment | — | ($64k) | ($2k) | ($25k) | ($4k) | $258k | ($1.6m) | ($247k) | ($529k) | ($438k) | $1.8b | |
| Payments to Acquire Property, Plant, and Equipment | ($2.3m) | $8.9m | $4.0m | $3.9m | $6.6m | ($3.3b) | ($635.7m) | ($583.9m) | ($967.1m) | ($1.1b) | ($1.1b) | |
| Marketable Securities, Unrealized Gain (Loss) | — | — | — | — | — | — | — | — | $1.2b | $2.7b | — | |
| Unrealized Gain (Loss) on Investments | — | — | — | — | — | $67.1m | $32.1m | $105.6m | ($3.5m) | — | ($10.4b) | |
| Fair value change of investments | — | — | — | — | ($104.1m) | $22.2m | $242.2m | ($1.0b) | ($6.8b) | ($10.4b) | — | |
| Short-term investments | — | — | — | — | — | — | — | ($13.9b) | ($21.4b) | ($12.6b) | — | |
| Purchase of available-for-sale debt securities | — | — | — | — | — | — | ($3.6b) | ($17.3b) | ($13.7b) | ($28.5b) | — | |
| Purchase of short-term time deposits, held to maturities and other investments | ($320.0m) | ($1.4b) | ($7.5b) | ($52.5b) | ($86.4b) | ($116.6b) | ($160.4b) | ($147.1b) | ($210.3b) | ($209.6b) | — | |
| Purchase of long-term time deposits, held to maturities and other investments | ($15.0m) | — | ($184.6m) | ($214.1m) | ($6.7b) | ($13.6b) | ($6.8b) | ($25.1b) | ($43.8b) | ($42.4b) | — | |
| Proceeds from sales of short-term time deposits, held to maturities and other investments | $30.0m | $1.6b | $50.0m | $24.8b | $55.1b | $97.5b | $141.9b | $130.3b | $147.3b | $230.9b | — | |
| Proceeds from sales of long-term time deposits, held to maturities and other investments | — | — | $5.0m | — | — | — | $7.1b | — | $2.0b | $709.2m | — | |
| Proceeds from sales of available-for-sale debt securities | — | — | — | — | — | — | — | $4.2b | $1.1b | $6.9b | — | |
| Payments for (Proceeds from) Other Investing Activities | — | — | — | — | — | ($445.0m) | — | ($18.3m) | ($4.8m) | ($35k) | — | |
| Net Other Investing Changes | — | — | — | — | — | $445.0m | — | $130.2m | $35.7m | ($199.8m) | ($199.8m) | |
| Net Cash Provided by (Used in) Investing Activities | ($307.3m) | $71.7m | ($1.1b) | ($4.1b) | ($5.9b) | ($35.6b) | ($3.2b) | ($7.8b) | ($16.2b) | ($6.2b) | ($43.4b) | |
| Cash flows from financing activities: | ||||||||||||
| Gain (Loss) on Extinguishment of Debt | — | — | — | — | $795k | $2.8m | — | — | — | — | — | |
| Issuance Of Debt | — | — | — | — | — | $0 | $0 | — | — | — | — | |
| Long Term Debt Issuance | — | — | — | — | — | $0 | $0 | ($9.0b) | ($91k) | ($5.2b) | — | |
| Net Issuance Payments Of Debt | — | — | — | — | — | — | $0 | ($9.0b) | ($91k) | ($5.2b) | ($5.2b) | |
| Net Short Term Debt Issuance | — | — | — | — | — | ($1.9b) | $0 | $0 | — | — | $0 | |
| Short Term Debt Issuance | — | — | — | — | — | $0 | $0 | — | — | — | — | |
| Long Term Debt Payments | — | — | — | — | — | — | $0 | ($9.0b) | ($91k) | ($5.2b) | ($5.2b) | |
| Repayment Of Debt | — | — | — | — | — | — | $0 | ($9.0b) | ($91k) | ($5.2b) | ($5.2b) | |
| Short Term Debt Payments | — | — | — | — | — | ($1.9b) | $0 | $0 | — | — | $0 | |
| Issuance Of Capital Stock | — | — | — | — | — | $0 | $0 | — | — | — | — | |
| Common Stock Issuance | — | — | — | — | — | $0 | $0 | — | — | — | — | |
| Payments for Repurchase of Common Stock | — | $32.7m | — | — | — | — | — | — | — | — | — | |
| Proceeds from (Payments for) Other Financing Activities | — | — | — | — | ($1k) | $318k | $1.5m | $1.2m | $171k | $194k | — | |
| Net Other Financing Charges | — | — | — | — | — | — | $10.1m | $8.2m | $1.3m | $1.4m | $1.4m | |
| Net cash (used in)/ generated from financing activities | $486.5m |
$1.4b
+187.51%
|
$17.3b
+1139.89%
|
$15.9b
-8.59%
|
$51.8b
+226.71%
|
($1.9b)
-103.62%
|
$10.1m
+100.54%
|
($9.0b)
-89003.92%
|
$1.2m
+100.01%
|
($5.2b)
-449185.31%
|
— | |
| Net Cash Provided by (Used in) Financing Activities | — | $1.4b |
$2.5b
+80.33%
|
$2.3b
-9.72%
|
$7.9b
+248.58%
|
($1.9b)
-123.62%
|
$1.5m
+100.08%
|
($1.3b)
-86484.53%
|
$159k
+100.01%
|
($747.5m)
-470227.04%
|
($5.2b)
-599.31%
|
|
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | $11.1b | $2.6b | $403.1m | $6.4b | ($8.8b) | $3.8b | $4.2b | $604.8m | $8.1b | $202.9b | |
| Beginning Cash Position | — | — | — | — | — | — | $66.0b | $92.3b | $121.8b | $126.2b | $135.3b | |
| Cash, cash equivalents and restricted cash at beginning of the year | $1.3b | $12.4b | $30.5b | $33.3b | $74.8b | $66.0b | $92.3b | $121.8b | $126.2b | $182.7b | — | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | ($47.7m) | $79.5m | $64.7m | ($21.4m) | — | — | — | — | — | ($3.7b) | |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | — | ($47.7m) | $546.9m | $450.1m | ($139.9m) | ($145.2m) | $100.2m | ($291.1m) | $840.1m | ($1.8b) | ($3.7b) | |
| Increase in cash, cash equivalents and restricted cash | $1.1b | $11.1b | $18.1b | $2.8b | $41.5b | ($8.8b) | $26.3b | $29.5b | $4.4b | $56.5b | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | $1.8b | $4.4b | $4.8b | $11.7b | $9.6b | $13.4b | $17.2b | $17.3b | $26.1b | $202.9b | |
| Restricted cash | — | $9.4b | $16.4b | — | — | — | — | $62.0b | $68.4b | $73.8b | — | |
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Income Tax Expense (Benefit) | — | — | — | — | $0 | $1.9b | $685.2m | $1.7b | $2.8b | $3.1b | — | |
| Operating Lease, Expense | — | — | — | $10.5m | — | — | — | — | — | — | — | |
| Interest expenses | — | — | — | — | — | $1.2b | $51.7m | $44.0m | — | — | — | |
| Additional Financial Items | ||||||||||||
| Foreign Currency Transaction Gain (Loss), before Tax | — | ($11.5m) | $1.5m | $9.1m | $34.5m | $71.8m | ($21.7m) | $5.0m | $80.5m | ($281.2m) | — | |
| General and Administrative Expense | — | $133.2m | $939.1m | $186.3m | $231.0m | $1.5b | $574.9m | $574.0m | $1.0b | $1.2b | — | |
| Investment Income, Interest | — | $80.8m | $85.1m | $221.5m | $376.3m | $3.1b | $579.5m | $1.4b | $2.8b | $3.7b | — | |
| Operating Expenses | — | $1.6b | $3.1b | $4.6b | $7.6b | $55.3b | $10.0b | $13.7b | $18.0b | $21.4b | — | |
| Allowance for credit losses | — | — | $2.2m | $11.8m | $43.4m | $49.3m | $118.4m | $265.2m | $329.9m | $313.1m | — | |
| Interest and investment gain, net | — | ($2.6m) | ($78.3m) | ($209.6m) | ($469.5m) | ($147.0m) | ($606.4m) | ($1.4b) | ($2.8b) | ($774.2m) | — | |
| Foreign exchange (gain)/loss | — | — | — | — | ($225.2m) | ($71.8m) | $149.7m | ($35.7m) | ($587.9m) | $2.0b | — | |
| Share of results of equity investees | — | — | $0 | ($28.7m) | ($83.7m) | ($246.8m) | $155.3m | $4.7m | ($17.2m) | ($129.0m) | — | |
| Amounts due from related parties | ($2.7m) | ($350.3m) | ($576.1m) | ($886.9m) | ($1.6b) | ($10.1m) | ($2.1b) | ($1.1b) | ($141.1m) | ($2.4b) | — | |
| Amounts due to related parties | ($42.3m) | $51.1m | $402.1m | $1.0b | $1.9b | ($1.4b) | ($286.6m) | ($437.6m) | ($436.9m) | $284.7m | — | |
| Payable to merchants | $1.1b | $8.7b | $7.4b | $12.7b | $23.9b | $8.7b | $749.4m | $11.6b | $16.9b | $15.3b | — | |
| Merchant deposits | $219.5m | $1.6b | $2.4b | $3.7b | $3.1b | $2.7b | $1.5b | $1.8b | ($418.1m) | $1.2b | — | |
| Lease liabilities | — | — | — | $544.3m | ($137.9m) | ($354.1m) | ($487.1m) | ($977.8m) | ($1.9b) | ($2.1b) | — | |
| Other non-current assets | — | — | — | ($69.5m) | ($13.2m) | ($23.1m) | ($34.5m) | ($184.2m) | $160.4m | $46.1m | — | |
| Loans to a related party | — | ($159.8m) | — | ($459.6m) | ($238.0m) | — | — | ($13.0m) | — | ($200.0m) | — | |
| Others | — | — | — | — | ($6k) | $318k | $10.1m | $8.2m | $1.3m | $1.4m | — | |
| Repayment or repurchase of convertible bonds | — | — | — | — | — | — | — | ($9.0b) | ($91k) | ($5.2b) | — | |
| Interest received | $4.0m | $52.1m | $433.4m | $1.2b | $1.9b | $2.9b | $3.6b | $7.3b | $9.4b | $12.3b | — | |
| Recognition of right-of-use assets and lease liabilities | — | — | — | $632.5m | $265.8m | $704.1m | $1.1b | $3.9b | $3.0b | $2.3b | — | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | — | — | $10.1m | ($9.0b) | $1.2m | ($5.2b) | ($5.2b) | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | — | — | ($22.4b) | ($55.4b) | ($118.4b) | ($43.4b) | ($43.4b) | |
| Change In Account Payable | — | — | — | — | — | — | $749.4m | $11.6b | $16.9b | $15.3b | $15.3b | |
| Change In Other Working Capital | — | — | — | — | — | — | $222.9m | $755.0m | $802.4m | $431.7m | $431.7m | |
| Change In Payable | — | — | — | — | — | — | $462.8m | $11.2b | $16.4b | $15.6b | $15.3b | |
| Change In Prepaid Assets | — | — | — | — | — | — | $2.2b | ($300.8m) | ($1.2b) | ($2.4b) | ($2.4b) | |
| Changes In Cash | — | — | — | — | — | — | $26.2b | $29.8b | $3.6b | $58.3b | $67.7b | |
| End Cash Position | — | — | — | — | — | — | $92.3b | $121.8b | $126.2b | $182.7b | $202.9b | |
| Financing Cash Flow | — | — | — | — | — | — | $10.1m |
($9.0b)
-89003.92%
|
$1.2m
+100.01%
|
($5.2b)
-449185.31%
|
($5.2b)
0.00%
|
|
| Free Cash Flow | — | — | — | — | — | — | $47.9b | $93.6b | $121.0b | $105.8b | $106.7b | |
| Gain Loss On Sale Of PPE | — | — | — | — | — | — | $10.7m | $1.8m | $3.9m | $3.1m | $3.1m | |
| Investing Cash Flow | — | — | — | — | — | — | ($22.4b) | ($55.4b) | ($118.4b) | ($43.4b) | ($43.4b) | |
| Net Foreign Currency Exchange Gain Loss | — | — | — | — | — | — | $149.7m | ($35.7m) | ($587.9m) | $2.0b | $2.0b | |
| Net PPE Purchase And Sale | — | — | — | — | — | — | ($635.7m) | ($583.9m) | ($967.1m) | ($1.1b) | ($1.1b) | |
| Operating Gains Losses | — | — | — | — | — | — | $315.7m | ($29.3m) | ($601.2m) | $1.8b | $1.8b | |
| Other Non Cash Items | — | — | — | — | — | — | ($554.8m) | ($1.3b) | ($2.8b) | ($774.2m) | — | |
| Provisionand Write Offof Assets | — | — | — | — | — | — | $118.4m | $265.2m | $329.9m | $313.1m | $313.1m | |
| Purchase Of PPE | — | — | — | — | — | — | ($635.7m) | ($583.9m) | ($967.1m) | ($1.1b) | ($1.1b) | |
| Sale Of PPE | — | — | — | — | — | $394k | $40k | $450k | $540k | — | $540k | |
| Stock Based Compensation | — | — | — | — | — | — | $7.7b | $7.1b | $9.9b | $7.9b | $7.9b | |
| Unrealized Gain Loss On Investment Securities | — | — | — | — | — | — | $242.2m | ($1.0b) | ($6.8b) | ($10.4b) | ($10.4b) | |
| Net Investment Purchase And Sale | — | — | — | — | — | — | ($21.7b) | ($55.0b) | ($117.4b) | ($42.1b) | ($42.1b) | |
| Purchase Of Investment | — | — | — | — | — | — | ($170.8b) | ($189.5b) | ($267.9b) | ($280.6b) | ($280.6b) | |
| Sale Of Investment | — | — | — | — | — | — | $149.1b | $134.5b | $150.4b | $238.5b | $238.5b | |
| Cash and cash equivalents | $1.3b | $3.1b | $14.2b | — | — | — | — | $59.8b | $57.8b | $108.9b | $135.3b | |
| Change In Cash Supplemental As Reported | — | — | — | — | — | — | $26.3b | $29.5b | $4.4b | $56.5b | — | |
| Income taxes paid | — | — | — | — | — | — | $4.9b | $5.8b | $17.5b | $21.6b | — |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.