PDD Holdings Inc. reported its unaudited financial results for Q2 2025, with total revenues of RMB103,984.8 million, a 7% increase from the same quarter in 2024. Operating profit decreased by 21% to RMB25,792.9 million, and net income attributable to ordinary shareholders decreased by 4% to RMB30,753.5 million.

Chairman Lei Chen highlighted investments in merchant support initiatives for a healthier platform ecosystem. Co-CEO Jiazhen Zhao emphasized rolling out merchant support measures. VP of Finance Jun Liu noted revenue growth moderation due to intense competition and sustained investments affecting profitability in the short term.

Revenues in Q2 2025 were driven by online marketing services and transaction services, totaling RMB103,984.8 million. Costs of revenues increased by 36% to RMB45,858.9 million, mainly from fulfillment fees and server costs. Operating expenses rose by 5% to RMB32,333.0 million, primarily due to higher sales and marketing expenses.

Operating profit in Q2 2025 decreased by 21% to RMB25,792.9 million, and net income attributable to ordinary shareholders decreased by 4% to RMB30,753.5 million. Cash, cash equivalents, and short-term investments totaled RMB387.1 billion as of June 30, 2025, compared to RMB331.6 billion as of December 31, 2024.

PDD Holdings will host an earnings conference call on August 25, 2025, to discuss financial results. The Company utilizes non-GAAP financial measures to evaluate performance, excluding share-based compensation expenses and fair value changes. Forward-looking statements in the announcement are subject to inherent risks and uncertainties. PDD Holdings aims to bring more businesses and people into the digital economy for increased productivity and opportunities.

Read more at GlobeNewswire: PDD Holdings Announces Second Quarter 2025 Unaudited