Is $PDD 82 worth holding for the long term? In 6 points:
1) Valuation: TTM P/E is about 9x, forward P/E about 7–8x—among the cheapest Chinese internet companies, with plenty of cash
2) China: Still slightly outperforming when the industry is weak; advertising is relatively resilient, and it’s staying focused on core e-commerce rather than recklessly expanding into instant retail
3) Temu: EU fees on low-value parcels and tighter customs controls; Europe accounts for about a third of its GMV, and growth has cooled from a surge to nearly flat
4) Response: Local merchants, local warehouses, and owned brands (new products); costs and profits will remain under pressure in the short term
5) Earnings: Last quarter, revenue was up about 8% but missed expectations, while net profit fell about 12%; results in mid-November will show whether misses are becoming consecutive
6) How to position: Could be a core or satellite holding built up in stages, but don’t go all-in betting on high growth next year; if you want peace of mind, prioritize steadier names like Tencent
This is an inference, not a guarantee. If regulation tightens further or another price war breaks out in China, even a single-digit P/E can keep languishing.
#美股 #币安 #拼多多 #投资 #Contract
1) Valuation: TTM P/E is about 9x, forward P/E about 7–8x—among the cheapest Chinese internet companies, with plenty of cash
2) China: Still slightly outperforming when the industry is weak; advertising is relatively resilient, and it’s staying focused on core e-commerce rather than recklessly expanding into instant retail
3) Temu: EU fees on low-value parcels and tighter customs controls; Europe accounts for about a third of its GMV, and growth has cooled from a surge to nearly flat
4) Response: Local merchants, local warehouses, and owned brands (new products); costs and profits will remain under pressure in the short term
5) Earnings: Last quarter, revenue was up about 8% but missed expectations, while net profit fell about 12%; results in mid-November will show whether misses are becoming consecutive
6) How to position: Could be a core or satellite holding built up in stages, but don’t go all-in betting on high growth next year; if you want peace of mind, prioritize steadier names like Tencent
This is an inference, not a guarantee. If regulation tightens further or another price war breaks out in China, even a single-digit P/E can keep languishing.
#美股 #币安 #拼多多 #投资 #Contract