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The competition among Alibaba, JD.com and Pinduoduo heats up
Pinduoduo and Alibaba successively issued their financial reports on Friday, May 22nd, before market open. So far, the three major Chinese e-commerce giants (Alibaba, JD.com and Pinduoduo) have all handed in the first quarter report affected by the epidemic.
The performance of JD.com, which earlier released its financial report, has been discussed many times: revenue exceeded expectations, active users increased significantly, and the logistics system became a key support for JD.com in a special period. Correspondingly, because the number of Alibaba and Pinduoduo is quite different from that of JD.com, it has been affected by the epidemic situation and what kind of response it has received has attracted considerable market attention.
According to analysts' previous estimates compiled by Bloomberg, Alibaba's Q1 revenue is expected to reach 107.038 billion yuan (all units are in RMB unless otherwise specified), a year-on-year increase of 14.5%; adjusted net profit is 16.08 billion yuan, a year-on-year decline of 28.5%.
For Pinduoduo, the market's expectations are more conservative. Analysts expect Pinduoduo's Q1 revenue to be 4.969 billion yuan, an increase of 9.3% year-on-year, or a new low growth rate; adjusted net loss of 2.670 billion yuan, an increase of 93.6% over the same period last year.