On the evening of November 20, Beijing time, pinduoduo opened at US $31.3, down 23.13%. At present, pinduoduo's market value is US $36.841 billion, falling below US $40 billion. The market value once again lags behind Baidu and JD.
Pinduoduo today released its financial report for the third quarter of 2019 as of September 30, with a total revenue of RMB 7513.9 billion (about US $1051.2 million), an increase of 122.84% compared with RMB 33.724 in the same period last year. The net loss attributable to pinduoduo's common shareholders was RMB 2335 million (about US $326.7 million), compared with a net loss of RMB 1098.3 million in the same period last year. Not in accordance with U.S. GAAP, the net loss attributable to pinduoduo's common shareholders was RMB 1660.4 million (about US $232.3 million), compared with a net loss of RMB 618.9 million in the same period last year.
In the first nine months of 2019, the total revenue was 19.349 billion yuan, compared with 7.466 billion yuan in the same period last year. In the first nine months of 2019, the net loss was RMB 5.216 billion, and the net loss in the same period last year was RMB 7.874 billion.
In the first nine months of 2019, the loss per ads under US GAAP was 4.52 yuan, and the loss per ads in the same period last year was 12.76 yuan.
According to the third quarterly report, as of September 30, 2019, the number of active buyers for many years had reached 536.3 million, a net increase of 150.8 million over the same period last year and 53.1 million over the previous quarter, the largest quarterly increase since listing; In the 12 months ended September 30, 2019, the number of active buyers of pinduoduo reached 536.3 million, a year-on-year increase of 39%.
Pinduoduo's market value was reduced to less than US $38 billion, which was again surpassed by Baidu (US $39.5 billion). Among China concept technology stocks listed in the United States, pinduoduo's market value fell behind Alibaba (Baba), JD (JD) and Baidu.