PDD Holdings Inc.

NasdaqGS-PDD

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Assets	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Cash and Cash Equivalents	92,386.5	63,222.4	70,126.2	57,768.1	65,295.4	56,756.3
Cash and Cash Equivalents
Cash and Cash Equivalents
Short-Term Investments	331,382.7	323,908.6	294,374.6	273,791.9	243,166.3	228,170.9
Short-Term Investments
Short-Term Investments
Total Cash and Cash Equivalents	423,769.3	387,131.1	364,500.8	331,559.9	308,461.8	284,927.2
Accounts Receivable	5,998.5	6,007.5	5,475.1	3,679.3	4,633.7	5,491.1
Receivables from Online Payment Platforms
Other Receivables	9,148.8	8,685.7	7,411.7	7,569.2	9,289	5,989.4
Amounts Due from Related Parties
Total Trade Receivables	15,147.3	14,693.2	12,886.8	11,248.5	13,922.7	11,480.5
Other Current Assets	77,443.3	74,218.2	70,386.5	72,839.8	64,446.9	63,318.5
Restricted Cash
Restricted Cash
Prepayments and Other Current Assets
Prepayments and Other Current Assets
Total Current Assets	516,359.8	476,042.5	447,774.1	415,648.2	386,831.3	359,726.3
Total Current Assets
Total Current Assets
Net Property, Plant & Equipment	6,208.6	6,052.1	6,431.8	5,943.7	5,695.7	5,101.2
Property, Equipment and Software, Net
Property, Equipment and Software, Net
Right-of-Use Assets
Net Intangible Assets	16.3	17.3	18.2	19.2	20.1	21.1
Intangible Assets
Long-Term Investments	—	—	—	—	—	—
Long-Term Investment
Loan to a Related Party
Other Long-Term Assets	91,139.6	85,044.3	76,289.2	83,423.2	74,246.8	67,895.9
Deferred Tax Assets
Deferred Tax Assets
Other Non-Current Assets
Other Non-Current Assets
Total Assets	613,724.3	567,156.3	530,513.2	505,034.3	466,793.9	432,744.3
Total Assets
Total Assets

Liabilities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Accounts Payable	100,578	95,521.6	92,515.1	91,655.9	82,780.2	78,707.8
Payable to Merchants (Including Payable to Merchants of the Consolidated VIE and Its Subsidiaries Without Recourse to the Primary Beneficiary)
Payable to Merchants
Payable to Merchants
Accrued Expenses	89,065.9	76,838.2	76,207.4	69,141.8	74,404.3	68,735
Accrued Expenses and Other Liabilities
Accrued Expenses and Other Liabilities
Short-Term Debt	—	—	—	—	—	—
Short-Term Borrowings
Current Portion of Long-Term Debt	5,248.4	5,287.6	5,302.1	5,309.6	—	0.2
Convertible Bonds, Current Portion
Convertible Bonds, Current Portion
Current Portion of Leases	2,385.7	2,415.8	2,325.2	2,106	2,015.1	1,865.9
Lease Liabilities
Unearned Revenue	—	3,601.5	2,945.1	2,947	2,951.6	2,413.6
Customer Advances and Deferred Revenues
Other Current Liabilities	18,608.7	18,297.9	17,729.9	17,262.5	17,845.7	19,110.6
Amounts Due to Related Parties (Including Amounts Due to Related Parties of the Consolidated VIE and Its Subsidiaries Without Recourse to the Primary Beneficiary)
Amounts Due to Related Parties
Amounts Due to Related Parties
Merchant Deposits
Merchant Deposits
Warrant Liability
Total Current Liabilities	219,218.2	201,962.5	197,024.7	188,422.9	179,996.9	170,833.1
Total Current Liabilities
Total Current Liabilities
Long-Term Debt	—	—	—	—	5,175.9	5,264.1
Convertible Bonds
Convertible Bonds
Leases	3,039.6	3,260	3,625.6	3,191.6	3,045.8	2,634.9
Lease Liabilities
Lease Liabilities
Lease Liabilities
Other Long-Term Liabilities	63.5	70.2	161.5	106.8	70.3	34.1
Deferred Tax Liabilities
Deferred Tax Liabilities
Other Non-Current Liabilities
Total Long-Term Liabilities	3,103.2	3,330.1	3,787.1	3,298.3	8,292	7,933
Total Liabilities	222,321.3	205,292.6	200,811.8	191,721.2	188,288.9	178,766.1
Total Liabilities
Total Liabilities

Equity	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Common Stock	0.2	0.2	0.2	0.2	0.2	0.2
Ordinary Shares
Ordinary Shares
Class B Ordinary Shares
Additional Paid-in Capital	124,013	121,959	120,003.8	117,829.3	115,424.9	112,946.4
Additional Paid-in Capital
Additional Paid-in Capital
Accumulated Other Comprehensive Income	4,907.2	6,750.1	7,296.5	7,824.5	2,867.4	5,799.9
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income
Retained Earnings	262,482.6	233,154.4	202,400.9	187,659.1	160,212.5	135,231.8
Statutory Reserves
Retained Earnings
Retained Earnings
Total Common Shareholders' Equity	391,403	361,863.7	329,701.4	313,313.1	278,504.9	253,978.2
Total Shareholders' Equity
Total Shareholders' Equity
Minority Interests and Other	—	—	—	—	—	—
Series A1 Convertible Preferred Shares
Series A2 Convertible Preferred Shares
Series B1 Convertible Preferred Shares
Series B2 Convertible Preferred Shares
Series B3 Convertible Preferred Shares
Series B4 Convertible Preferred Shares
Series C1 Convertible Preferred Shares, Net of Subscription Receivable
Series C2 Convertible Preferred Shares
Series C3 Convertible Preferred Shares
Total Shareholders' Equity	391,403	361,863.7	329,701.4	313,313.1	278,504.9	253,978.2
Total Liabilities and Shareholders' Equity	613,724.3	567,156.3	530,513.2	505,034.3	466,793.9	432,744.3
Total Liabilities and Shareholders' Equity
Total Liabilities and Shareholders' Equity