PDD Holdings reports Q2 revenue up 8%, net income down 12%

PDD Holdings (NASDAQ: PDD ) held its second-quarter earnings conference call on Monday.

Below is the complete transcript from the call.

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View the webcast at Watch the full earnings call below: Summary PDD Holdings reported a 8% year-over-year increase in group revenue to RMB 112.4 billion, despite a 12% decline in net income to RMB 27.2 billion, attributed to continued investments in platform and industry ecosystem.

The company is progressing with its 100 billion support program, focusing on supply chain transformation and traditional industry upgrades, and established a new company in Tsing'an New Area for intelligent technology opportunities.

PDD Holdings is enhancing platform governance with over 150 trust and safety measures, including initiatives for food safety, IP protection, and targeted governance to create a safer shopping environment.

The company's Free Shipping to Villages program has expanded delivery networks across rural areas, increasing job creation and consumer goods distribution, with significant results in provinces like Shandong.

Management expressed commitment to high-quality development and long-term growth, with strategic focus on building another PDD within three years and advancing supply chain investments.

PDD Holdings is navigating global regulatory changes, particularly in the EU, by optimizing supply chain and fulfillment processes to maintain consumer experience and merchant operations.

The company is exploring first-party brand business as a long-term strategic priority, focusing on core product categories and maintaining a diverse supply chain ecosystem.

Investments in logistics prioritize addressing last-mile delivery challenges in rural and remote areas, enhancing supply chain capabilities to support sustainable growth.

The 100 billion support program is starting to yield results, improving merchant quality and efficiency, with examples of successful product launches in industrial belts.

Full Transcript OPERATOR Ladies and gentlemen, thank you for standing by and welcome to PDD Holdings second quarter 2026 earnings conference call.

At this time, all participants are in a listen-only mode.

There will be a presentation followed by a question-and-answer session, at which time, if you wish to ask a question, you will need to press star one on your telephone.

Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your host today.

Sir, please go ahead.

Investor Relations Thank you, operator, and hello everyone, and thank you for joining us today.

PDD Holdings' conference earnings release was distributed earlier and is available on our website at investor.pddholdings.com, as well as through the Globe Newswire services.

Before we begin, I'd like to refer you to our safe harbor statement in the earnings press release, which applies to this call, as we will make certain forward-looking statements.

Also, this call includes discussions of certain non-GAAP financial measures.

Please refer to our earnings release, which contains a reconciliation of non-GAAP measures to GAAP measures.

Joining us today on the call are Mr.

Chen Lei, our Co-Chairman and Co-Chief Executive Officer, Mr.

Zhao Jiazhen, our Co-Chairman and Co-Chief Executive Officer, as well as Mr.

Lijong, our Financial Director.

Lei and Jiajun will make some general remarks on our performance for the past quarter and our strategic focus.

Jung will then walk us through our financial results for the second quarter ended June 30, 2026.

On today's call, certain management remarks will be in Chinese, and we will help translate.

Please kindly note that the English translation is for reference only, and in case of any discrepancy, statements in the original language should prevail.

Now it's my pleasure to introduce our Co-Chairman and Co-Chief Executive Officer, Mr.

Zhao Jiazhen.

Please go ahead.

Zhao Jiazhen, Co-Chairman and Co-Chief Executive Officer Hello everyone, this is Zhao Jiazhen, and thank you for joining our earnings call for the second quarter of 2026.