Operations
Q1 2026
Q1 Revenue
↑ 11.0% YoY
¥106.23B
Segments
Online Marketing Services and Others
47.0%
Transaction Services
53.0%
Key Earnings Driver
Transaction Services Online Marketing Services and Others revenue increased 2.5% year over year to RMB49.9B, but declined 16.8% sequentially. Transaction Services revenue increased 20% to RMB56.3B
Key Operating Metrics¹
METRIC
STATUS
Online Marketing Services and Others↑ 2.5%
Transaction Services↑ 19.9%
🟢 Scaling
Key Financial Metrics
Gross Margin
55.86%
-1.35 pp YoY
Backlog / Revenue
N/A
CapEx Intensity
N/A
Key Operating Metrics¹: Core operating metrics relevant to revenue, sourced from PDD Holdings website and/or SEC filings for Q1, with status based on reported data.