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Pinduoduo Inc. Together More Savings More Fun Pinduoduo Announces Second Quarter 2021 Unaudited Financial Results August 24 , 2021 SHANGHAI , China , Aug. 24 , 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 second quarter ended June 30 , 2021 . Second Quarter 2021 Highlights • Total revenues in the quarter were RMB23,046.2 million ( US $ ¹13,569.4 million ) , an increase of 89 % from RMB12,193.3 million in the same quarter of 2020 . • Average monthly active users2 in the quarter was 738.5 million , an increase of 30 % from 568.8 million in the same quarter of 2020 . • Active buyers³ in the twelve - month period ended June 30 , 2021 was 849.9 million , an increase of 24 % from 683.2 million in the twelve - month period ended June 30 , 2020 . • Operating profit in the quarter was RMB1,997.5 million ( US $ 309.4 million ) , compared with operating loss of RMB1,639.6 million in the same quarter of 2020. Non - GAAP4 operating profit in the quarter was RMB3,185.2 million ( US $ 493.3 million ) , compared with non - GAAP operating loss of RMB725.1 million in the same quarter of 2020 . • Net income attributable to ordinary shareholders in the quarter was RMB2,414.6 million ( US $ 374.0 million ) , compared with net loss of RMB899.3 million in the same quarter of 2020. Non - GAAP net income attributable to ordinary shareholders in the quarter was RMB4,125.3 million ( US $ 638.9 million ) , compared with non - GAAP net loss of RMB77.2 million in the same quarter of 2020 . " Agriculture has long been at the core of Pinduoduo's corporate mission and strategy and the '10 Billion Agriculture Initiative ' we announced today is a way for us to deepen our support for agricultural modernization and rural vitalization , " said Lei Chen , Chairman and CEO of Pinduoduo , who will oversee the initiative . " Investing in agriculture pays off for everyone because agriculture is the nexus of food security and quality , public health and environmental sustainability . " " We continued to deliver strong execution in the quarter . Our total revenues , excluding contribution from merchandise sales , for the second quarter 2021 increased 73 % from the prior year , " said Tony Ma , Vice President of Finance of Pinduoduo . " Agriculture remains our strategic priority , and we are committed to patient and continued investment in agriculture . " 1 This announcement contains translations of certain Renminbi ( RMB ) amounts into U.S. dollars ( US $ ) at a specified rate solely for the convenience of the reader . Unless otherwise noted , the translation of RMB into US $ has been made at RMB6.4566 to US $ 1.00 , the noon buying rate in effect on June 30 , 2021 as set forth in the H.10 Statistical Release of the Federal Reserve Board . 2 " Monthly active users " refers to the number of user accounts that visited the Pinduoduo mobile app during a given month , which does not include those that accessed the platform through social networks and access points . 3 " Active buyers " in a given period refers to the number of user accounts that placed one or more orders ( i ) on the Pinduoduo mobile app , and ( ii ) through social networks and access points in that period , regardless of whether the products and services are actually sold , delivered or returned . 4 The Company's non - GAAP financial measures exclude share - based compensation expenses , fair value change of long - term investments , and interest expenses related to the convertible bonds ' amortization to face value and gain or loss on extinguishment . See " Reconciliation of Non - GAAP Measures to The Most Directly Comparable GAAP Measures " set forth at the end of this press release . Second Quarter 2021 Unaudited Financial Results Total revenues were RMB23,046.2 million ( US $ 3,569.4 million ) , an increase of 89 % from RMB12,193.3 million in the same quarter of 2020. The increase was primarily due to an increase in revenues from online marketing services . • Revenues from online marketing services and others were RMB18,080.4 million ( US $ 2,800.3 million ) , an increase of 64 % from RMB11,054.7 million in the same quarter of 2020 . • Revenues from transaction services were RMB3,007.6 million ( US $ 465.8 million ) , an increase of 164 % from RMB1,138.6 million in the same quarter of 2020 . • Revenues from merchandise sales were RMB1,958.2 million ( US $ 303.3 million ) , an increase of RMB1,958.2 million from