投资评级与目标价格 1. 拼多多的估值水平已经十分吸引,参考中国互联网头部公司和美股电商同业公司的估值,以及拼多多过去的业绩表现和新业务拓展潜力,给予"买入"评级和132.0美元/ADR的目标价。[66][67] 公司发展历程 2. 拼多多创始人黄峥此前有多次成功创业经历,为拼多多的发展奠定了基础。拼多多从2015年起经历了起步与增长、迅猛扩张、品牌转型等阶段,目前正处于创新与多元化发展阶段。[8][9][10][11] 3. 拼多多的核心团队和管理层大多有丰富的创业和技术背景,为公司的快速发展提供了有力支撑。[13][14][15] 4. 拼多多的第一大股东为创始人黄峥,第二大股东为腾讯,公司股权结构相对集中。[16][17] 主要业务概览 5. 拼多多的主要业务包括拼多多主站、多多买菜和TEMU三大板块。拼多多主站业务已趋于完善,多多买菜和TEMU为公司带来新的增长动力。[18][19] 6. 拼多多主站业务发展历程包括借助微信平台快速积累用户、抓住下沉市场机遇、品牌转型等阶段,目前正在优化商家结构、提升货币化率。[24][25][26][28] 7. 多多买菜业务是拼多多在社区团购领域的布局,凭借自身供应链优势在激烈竞争中脱颖而出,未来将从扩张规模转向提升盈利能力。[35][36][37][42][44] 8. TEMU是拼多多的跨境电商业务,采用全托管和半托管相结合的运营模式,利用低价优势快速扩张,未来有望提升盈利能力。[45][46][47][51][53] 财务表现 9. 拼多多收入保持高速增长,其中在线营销收入和交易佣金收入占比不断提升。毛利率和净利润率也呈现持续改善趋势。[54][55][56][57][58][59][60][61] 10. 拼多多资产负债表健康,流动性和偿债能力较强,ROE和ROA水平行业领先。[62][63][64][65]

NEW YORK, Aug. 30, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of PDD Holdings Inc. f/k/a Pinduoduo Inc. (NASDAQ: PDD) between April 30, 2021 and June 25, 2024, both dates inclusive (the “Class Period”), of the important October 15, 2024 lead plaintiff deadline in the securities class action first filed by the Firm. SO WHAT: If you purchased PDD Holdings securities during the Class Period you may be entitled to compensation without p ...

Luis Alvarez PDD Holdings (NASDAQ:PDD) stock crashed almost 30% in one day this week after management delivered weak guidance. In this article, I will explain why I believe that the discounting of this stock is likely just beginning. PDD is still overvalued relative to its peers The first problem with PDD Holdings is its valuation relative to the Chinese e-commerce sector. The company is valued at a forward price/sales ratio of 2.34x, according to Seeking Alpha data. Using two of its obvious peers, we ...

文章核心观点 - 拼多多控股(PDD)旗下的在线市场Temu本周股价下跌最高达32.9% [1] - 公司报告显示收入增长86%,但管理层表示未来将专注于增长而非利润 [2] 公司情况总结 - 2024年第二季度收入增长86%至136亿美元,营业利润增长156%至44.8亿美元 [2] - 公司联合CEO赵家珍表示将向高质量发展转型,并建立可持续的生态系统,但短期内可能会牺牲部分盈利能力 [2] - Temu定位于低价低质商品,但现在正试图转向中高端市场,但能否成功还存在不确定性 [3] - 公司在海外市场获取大量客户,利用一些可能被关注的监管漏洞,转向中高端产品可能会带来利润下降 [3] 行业趋势总结 - 美国在线零售商正试图模仿公司的市场模式,允许零售商直接从海外发货,规避关税 [3] - 在线零售业增长迅速,但公司的增长策略可能存在一定风险 [3]

PDD Holdings Inc PDD stock is flapping its wings wildly after hitting a Death Cross on the charts. The stock, down 33.62% year-to-date and -21.50% over the past month, just crossed that ominous technical threshold where the short-term moving average dips below the long-term average. Translation? The bearish clouds are thickening. Chart created using Benzinga ProTemu Trouble & Tumbling StocksPDD Holdings, the parent company of Temu, is feeling the heat. Temu’s low-priced lure is creating headaches for rivals ...

文章核心观点 - 拼多多(PDD)过去两年在疲软的中国电商市场中表现出色,但在二季度财报中警告未来面临挑战,导致股价下跌 [1] - 拼多多收入大幅增长,但盈利能力下降,公司称将进入新的投资阶段以支持优质商家和改善供应链 [2][3] - 拼多多的全球业务Temu面临更大的竞争和不确定性,受到非业务因素的影响 [4] - 阿里巴巴和京东加大了对拼多多平台的挑战,引发了中国电商市场的价格战 [5][6] - 拼多多的Temu业务还面临来自美国政府和消费者的诸多质疑和指责 [5][6] - 从估值角度来看,拼多多的股价相对便宜,但由于缺乏透明度和面临诸多问题,不建议投资者买入 [7][8]

NEWTOWN, Pa., Aug. 29, 2024 (GLOBE NEWSWIRE) -- Edelson Lechtzin LLP, a leading class action law firm, announces that investors of PDD Holdings Inc. f/k/a Pinduoduo (NASDAQ: PDD) between April 30, 2021, and June 25, 2023, inclusive (the “Class Period”) may seek appointment as lead plaintiff in the pending securities fraud class action lawsuit. A copy of the Complaint can be found HERE. Investors who purchased PDD Holdings stock may move the U.S. District Court for the Eastern District of New York to appoint ...

LOS ANGELES, Aug. 29, 2024 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming October 15, 2024 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired PDD Holdings Inc. (“PDD” or the “Company”) (NASDAQ: PDD) securities between April 30, 2021 and June 25, 2024, inclusive (the “Class Period”). If you suffered a loss on your PDD investments or would like to inquire about potentially pursuing claims to r ...

报告公司投资评级 - 公司维持"买入"评级 [3] 报告的核心观点 国内电商业务 - 主站广告收入增速有所下滑,加大投入下公司利润率或将承压 [1] - 在线市场服务收入增速下降主要原因为市场竞争加剧以及国内宏观经济承压下,拼多多主站GMV增长较23年同期放缓;2023年因商家去库存压力增大,拼多多作为平台方拥有较高议价权,2023年广告货币化率同比实现较高增长,但公司主站目前广告货币化率水平或已达到短期顶部 [2] - 向后展望,公司将持续优化平台政策,将投入百亿资源扶持新质商家,同时加大优秀商家的扶持力度,包括大幅减免优质商家的交易服务费用、给予商家推广软件服务费可退权益等,短期内公司货币化率以及利润端获将承受一定压力,但长期来看将促进平台形成正向生态循环 [2] 海外业务 - Temu维持高质量增长,半托管模式持续推进,占平台GMV比例稳步提升,可以帮助Temu提升履约效率、增加高客单价大件商品GMV占比、规避部分海外合规风险 [2] - 尽管公司面临较高海外环境的不确定性,但公司将在供应链能力、服务能力、合规能力等方面持续投入和优化,响应全球消费者的需求,实现公司全球化业务的高质量发展 [2] 财务数据总结 - 2024-2026年公司实现营收4144/5290/6311亿元;归母净利润1151/1589/1980亿元;EPS82.9/114.4/142.5元;对应PE分别为7.8/5.7/4.5倍 [3]

NEW YORK, Aug. 29, 2024 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of PDD Holdings Inc. f/k/a Pinduoduo Inc. (NASDAQ: PDD).Shareholders who purchased shares of PDD during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/pdd-holdings-inc-f-k-a-pinduoduo-inc-loss-submission-form/?id=98730& ...