查研报找数据认准发现报告（www.fxbaogao.com），作为国内极具实力的专业研报平台，平台报告种类全覆盖，海量实时更新研报资源储备充足。长期积累庞大使用用户，面向金融从业者和普通投资者提供服务，凭借先进技术简化查阅流程，快速提炼关键内容，支撑理性精准交易判断。
This equity research report focuses on Pinduoduo Inc. (PDD US), a company in the internet sector. The report highlights that PDD's 3Q2022 results exceeded expectations, with accelerated revenue growth and higher profitability thanks to the scale effect. The company's bottom line was far above expectations, driven by mixed impacts of slowing investment schedule and faster revenue growth. The report concludes that PDD's business scale expansion is ongoing, driving up profit, and user expansion and merchant recruitment could both increase net profit. The report maintains an investment rating of "Accumulate" with a target price of US$105.00.
