Pinduoduo pledges US$1.5 billion of profits to Chinese farmers as it reports 89 per cent jump in sales

//Pinduoduo pledges US$1.5 billion of profits to Chinese farmers as it reports 89 per cent jump in sales

Pinduoduo pledges US$1.5 billion of profits to Chinese farmers as it reports 89 per cent jump in sales

Pinduoduo posted its first-ever quarterly net profit as a public company and pledged on Tuesday to donate those and future earnings toward the development of agriculture until it has given away a total of 10 billion yuan (US$1.5 billion).China’s largest online retailer by consumers reported that sales jumped a less-than-expected 89 per cent to 23 billion yuan in the June quarter, compared with the 26.7 billion yuan average of analyst estimates. Net income was 2.4 billion yuan, compared with a…

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By | 2021-08-24T13:07:58+00:00 August 24th, 2021|Technology|Comments Off on Pinduoduo pledges US$1.5 billion of profits to Chinese farmers as it reports 89 per cent jump in sales