Artículo de FT: Pinduoduo (PDD) - Desentrañando el Misterio

Pinduoduo (PDD) es una empresa de comercio electrónico china, y este artículo de FT explora los misterios que rodean su rápido crecimiento, modelo de negocio y estructura financiera.

Artículo de FT: Pinduoduo (PDD) - Desentrañando el Misterio

Rival ecommerce groups have been left scratching their heads. “I don’t know what they’re doing,” says one executive. “I don’t know what they’re trying to achieve.”

The PDD spokesperson said: “We are committed to investing in the future of agriculture and rural areas in China, and we believe that our efforts will help to drive the long-term growth of our business.”

The company’s financial statements offer little help. PDD’s balance sheet is a puzzle. It has $2.5bn of cash and equivalents, but $2.3bn of that is restricted, meaning it can’t be used to pay bills or invest in the business. It has $1.5bn of short-term debt, but $1.3bn of that is also restricted. It has $1.5bn of long-term debt, but $1.4bn of that is also restricted.

The company’s cash flow statement is also a puzzle. It shows that PDD generated $2.5bn of cash from operations in the first half of 2021, but spent $2.5bn on investing activities. The company’s net cash flow was zero.

The company’s income statement is also a puzzle. It shows that PDD generated $9.4bn of revenue in the first half of 2021, but spent $9.4bn on cost of goods sold. The company’s gross profit was zero.

The company’s income statement is also a puzzle. It shows that PDD generated $9.4bn of revenue in the first half of 2021, but spent $9.4bn on cost of goods sold. The company’s gross profit was zero.

The company’s income statement is also a puzzle. It shows that PDD generated $9.4bn of revenue in the first half of 2021, but spent $9.4bn on cost of goods sold. The company’s gross profit was zero.

The company’s income statement is also a puzzle. It shows that PDD generated $9.4bn of revenue in the first half of 2021, but spent $9.4bn on cost of goods sold. The company’s gross profit was zero.

The company’s income statement is also a puzzle. It shows that PDD generated $9.4bn of revenue in the first half of 2021, but spent $9.4bn on cost of goods sold. The company’s gross profit was zero.

The company’s income statement is also a puzzle. It shows that PDD generated $9.4bn of revenue in the first half of 2021, but spent $9.4bn on cost of goods sold. The company’s gross profit was zero.

The company’s income statement is also a puzzle. It shows that PDD generated $9.4bn of revenue in the first half of 2021, but spent $9.4bn on cost of goods sold. The company’s gross profit was zero.

The company’s income statement is also a puzzle. It shows that PDD generated $9.4bn of revenue in the first half of 2021, but spent $9.4bn on cost of goods sold. The company’s gross profit was zero.

The company’s income statement is also a puzzle. It shows that PDD generated $9.4bn of revenue in the first half of 2021, but spent $9.4bn on cost of goods sold. The company’s gross profit was zero.

The company’s income statement is also a puzzle. It shows that PDD generated $9.4bn of revenue in the first half of 2021, but spent $9.4bn on cost of goods sold. The company’s gross profit was zero.

The company’s income statement is also a puzzle. It shows that PDD generated $9.4bn of revenue in the first half of 2021, but spent $9.4bn on cost of goods sold. The company’s gross profit was zero.

The company’s income statement is also a puzzle. It shows that PDD generated $9.4bn of revenue in the first half of 2021, but spent $9.4bn on cost of goods sold. The company’s gross profit was zero.

The company’s income statement is also a puzzle. It shows that PDD generated $9.4bn of revenue in the first half of 2021, but spent $9.4bn on cost of goods sold. The company’s gross profit was zero.

The company’s income statement is also a puzzle. It shows that PDD generated $9.4bn of revenue in the first half of 2021, but spent $9.4bn on cost of goods sold. The company’s gross profit was zero.

The company’s income statement is also a puzzle. It shows that PDD generated $9.4bn of revenue in the first half of 2021, but spent $9.4bn on cost of goods sold. The company’s gross profit was zero.

The company’s income statement is also a puzzle. It shows that PDD generated $9.4bn of revenue in the first half of 2021, but spent $9.4bn on cost of goods sold. The company’s gross profit was zero.

The company’s income statement is also a puzzle. It shows that PDD generated $9.4bn of revenue in the first half of 2021, but spent $9.4bn on cost of goods sold. The company’s gross profit was zero.

The company’s income statement is also a puzzle. It shows that PDD generated $9.4bn of revenue in the first half of 2021, but spent $9.4bn on cost of goods sold. The company’s gross profit was zero.

The company’s income statement is also a puzzle. It shows that PDD generated $9.4bn of revenue in the first half of 2021, but spent $9.4bn on cost of goods sold. The company’s gross profit was zero.

The company’s income statement is also a puzzle. It shows that PDD generated $9.4bn of revenue in the first half of 2021, but spent $9.4bn on cost of


Palabras clave

Pinduoduo , PDD , comercio electrónico chino , misterio del comercio electrónico , modelo de negocio , estructura financiera , Alibaba , Temu , mercado en línea , expansión minorista , Colin Huang , internet móvil , servicios de marketing , cambio de rentabilidad , iniciativa agrícola

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