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Pinduoduo Inc. Together More Savings More Fun Pinduoduo Announces First Quarter 2021 Unaudited Financial Results May 26 , 2021 SHANGHAI , China , May 26 , 2021 ( GLOBE NEWSWIRE ) Pinduoduo Inc. ( " Pinduoduo " or the " Company " ) ( NASDAQ : PDD ) , China's largest agriculture and interactive commerce platform , today announced its unaudited financial results for the first quarter ended March 31 , 2021 . First Quarter 2021 Highlights • Total revenues in the quarter were RMB22,167.1 million ( US $ 13,383.4 million ) , an increase of 239 % from RMB6,541.1 million in the same quarter of 2020 . • Average monthly active users² in the quarter was 724.6 million , an increase of 49 % from 487.4 million in the same quarter of 2020 . • Active buyers³ in the twelve - month period ended March 31 , 2021 was 823.8 million , an increase of 31 % from 628.1 million in the twelve - month period ended March 31 , 2020 . • Operating loss in the quarter was RMB4 , 147.0 million ( US $ 633.0 million ) , compared with operating loss of RMB4,397.2 million in the same quarter of 2020. Non - GAAP4 operating loss in the quarter was RMB3 , 174.1 million ( US $ 484.5 million ) , compared with operating loss of RMB3,587.9 million in the same quarter of 2020 . • Net loss attributable to ordinary shareholders in the quarter was RMB2,905.4 million ( US $ 443.5 million ) , compared with RMB4 , 119.3 million in the same quarter of 2020. Non - GAAP net loss attributable to ordinary shareholders in the quarter was RMB1,890.3 million ( US $ 288.5 million ) , compared with RMB3 , 169.6 million in the same quarter of 2020 . " Our growing scale gives us both greater capacity and responsibility to live up to our mission to ' benefit all ' , " said Mr. Lei Chen , Chairman and Chief Executive Officer of Pinduoduo . " We envision Pinduoduo as a platform that not only facilitates the trading of goods and services but also serves as a conduit for turning ideas into solutions to everyday problems . " " We remain laser - focused on serving our users and anticipating what they need , and doing so in a way that is respectful of the community and environment , " added Mr. David Liu , Vice President of Strategy . " We will continue to engage our users , merchants and partners in improving all aspects of our services . " " We continued to deliver strong results in the first quarter and remain disciplined , " said Mr. Tony Ma , Vice President of Finance . " Our total revenues , excluding contribution from merchandise sales , for the first quarter 2021 increased 161 % from the prior year , while our non - GAAP operating and net losses narrowed at the same time . " First Quarter 2021 Unaudited Financial Results Total revenues were RMB22,167.1 million ( US $ 3,383.4 million ) , an increase of 239 % from RMB6,541.1 million in the same quarter of 2020. The increase was primarily due to an increase in revenues from online marketing services and contribution from merchandise sales . • Revenues from online marketing services and others were RMB14,111.5 million ( US $ 2,153.8 million ) , an increase of 157 % from RMB5,492.3 million in the same quarter of 2020 . • Revenues from transaction services were RMB2,931.5 million ( US $ 447.4 million ) , an increase of 180 % from RMB1,048.8 million in the same quarter of 2020 . • Revenues from merchandise sales were RMB5 , 124.1 million ( US $ 782.1 million ) , an increase of RMB5,124.1 million from nil in the same quarter of 2020 . Total costs of revenues were RMB10,746.1 million ( US $ 1,640.2 million ) , an increase of 487 % from RMB1,830.2 million in the same quarter of 2020 . The increase was mainly due to costs attributable to merchandise sales , higher cost of payment processing fees , cloud services fees , and delivery and storage fees . Total operating expenses were RMB15,568.0 million ( US $ 2,376.1 million ) , compared with RMB9 , 108.0 million in the same quarter of 2020 . • Sales and marketing expenses were RMB12,997.4 million ( US $ 1,983.8 million ) , an increase of 78 % from RMB7,296.6 million in the same quarter of 2020 , mainly due to an increase in advertising expenses and promotion and coupon expenses .