Pinduoduo Issues 2019 Annual Report along with a Philosophical Letter to Shareholders

(Source: Techcrunch)

Group buying e-commerce platform Pinduoduo released its annual report of fiscal year 2019, along with a letter to shareholders from its founder and CEO Huang Zheng where he talked about his thoughts brought by the ongoing outbreak.

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The annual report shows in 2019, Pinduoduo’s transaction volume reached 1 trillion yuan, the number of active users exceeded 580 million, and total revenue was 30.14 billion yuan. Based on the number of users, it has become China’s second-largest e-commerce platform only four and a half years after it was founded.

Huang’s 2020 annual letter to shareholders, unlike the previous two that focus on the company’s strategies, takes a philosophical spin and demonstrates his thinking on the relationship between the pandemic and the world, as well as the relationship between the human race and time.

Huang said the coronavirus acts like a catalyst in a test tube, accelerating the formation of a new world. He said dimensions were being reconstructed, rules were being rewritten, and the world will see fundamental and permanent changes.

Apparently, “time” is the main subject of the letter as it opens with the question “What time?” and is subtitled by “Time for new,” “Feel the time,” and “Seize the time.” He claimed the coronavirus outbreak has made people realize that “time is not really a parameter in an equation, but an irreversible vector.”

“As a result, we will be more committed than ever to investing in the future, and to be part of the driving force in the new world we are seeing. The journey has only started. This is our Carpe Diem. This is our C’est La Vie,” the letter concluded.