Pinduoduo’s U.S. stock market value surpasses Alibaba, becoming the largest Chinese concept stock in the U.S. stock market

According to news on November 29, Pinduoduo’s share price rose by more than 3% in early trading on Wednesday, surpassing Alibaba and becoming the Chinese concept stock with the largest value in the US stock market. As of press time, Pinduoduo’s market value is US$192 billion (approximately 1.37 trillion yuan), and Alibaba’s market value is US$191.5 billion (approximately 1.37 trillion yuan)

This site noticed that according to news from Dachang Youth, this morning, Jack Ma made a rare speech on Alibaba’s intranet, where he evaluated Pinduoduo’s financial report data and talked about the future of e-commerce. business.

An employee said: "I am very anxious right now and dare not think about it. Pinduoduo's market value has soared to 185.5 billion U.S. dollars. Compared with our 194.3 billion U.S. dollars, there is only a difference of 8 billion. This is really disappointing. People are surprised. That once humble competitor has now become the leader in the industry."

Jack Ma said in his reply: "Very good. Please provide more constructive comments and suggestions. Especially innovative ideas. I believe that everyone in Alibaba today is watching and listening. I am even more convinced that Alibaba will change and Alibaba will change. All great companies are born in difficult times. The era of AI e-commerce has just begun , is an opportunity and a challenge for everyone. I would like to congratulate Pinduoduo for its decision-making, execution and efforts in the past few years. Everyone may have extraordinary abilities, but those who are truly worthy of respect are those who are willing to reform for the future. People and organizations, they are willing to pay any price and sacrifice. Back to our mission and vision, Alibaba people, come on! Alibaba partner, Jack Ma."

According to previous reports on this site, Pinduoduo Revenue in the third quarter was 68.84 billion yuan, with an estimate of 54.87 billion yuan, compared with 35.504 billion yuan in the same period last year, a year-on-year increase of 93.9%; adjusted earnings per ADS in the third quarter were 11.61 yuan, with an estimate of 8.81 yuan. Net profit attributable to Pinduoduo’s ordinary shareholders was 15.5371 billion yuan, a year-on-year increase of 47%; not in accordance with U.S. GAAP, net profit attributable to Pinduoduo’s ordinary shareholders was 17.0271 billion yuan, a year-on-year increase of 37%.

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