Pinduoduo’s market value soared 74 billion yuan, and Ali dropped a xiaomi.

Overnight, Chinese stocks fell together, but Pinduoduo was a standout. Its market value surged 10.4 billion US dollars and rose 15.35% against the trend. Alibaba’s stock price fell 6.13%, the market value instantly evaporated 33.5 billion US dollars, equivalent to 240 billion yuan. The two major Chinese e-commerce giants have gone through two nights of ice and fire. This is a rare scene in the history of Chinese e-commerce.

May 22 evening, Pinduoduo and Ali released the latest financial results at the same time.However, it is very intriguing to note that the number of active buyers in Pinduoduo which is only five years old in the first quarter of 2020 has reached 628 million, while Alibaba’s global active consumers in fiscal year 2020 were 960 million.In addition, Alibaba’s turnover exceeded $1 trillion in fiscal year 2020, which Zhang Yong described as a historic milestone.

At this point, whether it is market value or user size, Pinduoduo has become the second-ranked second largest player in the Chinese e-commerce industry after Alibaba, steadily leaving Jingdong behind.We are afraid Ma Yun would never have thought that when Ali and Jingdong fought to death, their opponent turned out to be this “post-wave”—Pinduoduo.

According to the latest market value, the top four Internet companies in China are Ali, Tencent, Meituan Dianping and Pinduoduo. Obviously, the rise of Pinduoduo has not only reshaped Chinese e-commerce, but it has also rewritten the Internet landscape in China.

01

The market value soared 74.1 billion overnight, and the stock price doubled in 2 months.

People all over the country misread Pinduoduo

Pinduoduo began to tell the outside world that you might have misread it.

On the evening of May 22, Pinduoduo released its first quarter earnings report for 2020. The financial report data shows that in the first quarter of 2020, Pinduoduo’s revenue reached 6.541 billion yuan, exceeding the market’s expected 4.969 billion yuan. The same period last year was 4.545 billion yuan, compared with a 44% increase over the same period. At the same time, Pinduoduo has truly achieved “Pingduoduo which is used by 600 million people”. Its number of active buyers is 628 million, a year-on-year increase of 42%, which is less than 100 million from Alibaba’s 728 million annual active buyers. Among them, the average consumption of individual active buyers has steadily increased to 1842.4 yuan, a year-on-year increase of 47% from 1257.3 yuan in the same period last year.

Driven by the rapid growth of active buyers and a substantial increase in per capita consumption, Pinduoduo continued the trend of double GMV growth. The financial report shows that in the past 12 months, the Pinduoduo GMV reached 1157.2 billion yuan, an increase of 108% year-on-year. Domatters calculated that the GMV of Pinduoduo in the first quarter of 2020 was 302.6 billion yuan, a year-on-year increase of 99%.

However, Pinduoduo’s losses increased in the first quarter of 2020. According to the financial report, the net loss attributable to ordinary shareholders under Pinduoduo’s non-GAAP quarter was RMB 3.17 billion, compared with a net loss of RMB 1.379 billion in the same period last year. The reason for this stems from the zero-commercial anti-epidemic strategy of merchants under the new crown epidemic. On the other hand, it is because of the tens of billions of subsidies that are continuously online. Pinduoduo said that the company has sufficient cash reserves and the tens of billions of subsidies will continue.

Founded less than 5 years ago and listed for 22 months, Pinduoduo handed over a transcript that is not bad. Chinese stocks have all fallen, but they are more outstanding than others. They rose 15.35% against the trend, closed up 14.5%, reported at 68.7 US dollars per share, and the market value was 82.28 billion US dollars.

Overnight, the market value of Pinduoduo skyrocketed by 10.4 billion U.S. dollars, which is equivalent to about 74.1 billion yuan, which was more than 50 billion U.S. dollars on the day of listing, and kicked off 9 billion U.S. dollars.

02

With a turnover of 1 trillion US dollars, Ali breaks history

The market value fell 240 billion yuan overnight

Immediately after Pinduoduo, Alibaba also released its fourth quarter financial report as of March 31, 2020 and its fiscal year 2020 financial report.

Also on the evening of May 22, Alibaba Group disclosed a shocking number in its financial report: the transaction volume exceeded US $ 1 trillion in fiscal year 2020. Zhang Yong, chairman and CEO of Alibaba Group, commented that this is a historic milestone.

Overall, in the past 12 months ended March 31, 2020, the consumer business GMV of Alibaba’s digital economy reached RMB 7.053 trillion, exceeding USD 1 trillion. During the fiscal year, Alibaba’s digital economy had 960 million annual active consumers worldwide.

Zhang Yong admitted that the final quarter of the fiscal year was affected by the impact of the new coronary pneumonia epidemic. The financial report shows that Alibaba’s revenue in the fourth quarter was RMB 114.314 billion, an increase of 22% year-on-year. This number has become Ali’s slowest revenue growth rate since its listing, and it is also the quarter with the lowest revenue in the entire fiscal year. The other three fiscal quarter revenues were 114.924 billion yuan, 119.107 billion yuan and 1614.56 billion yuan respectively.

As of the close of US stocks, most Chinese stocks closed down, JD.com fell 5.08%, Baidu fell 6.10%, Alibaba fell 6.13%, and the market value was US $ 535.7 billion. In other words, Ali’s market value evaporated 33.5 billion US dollars overnight, equivalent to 240 billion yuan.

Ali’s stock price plunge is not just affected by the latest financial report. On Wednesday, the US Senate passed a bill stipulating that if foreign companies such as China are controlled by foreign governments or do not comply with the same accounting standards as US companies, they may be prohibited from listing in the United States. The bill is yet to be approved by the US House of Representatives. Once passed, it may have a serious impact on the Chinese stock market.

At the Ali financial report meeting, Alibaba Group CFO Wuwei also rarely responded to the “Accountability Law for Foreign Companies”, saying that Ali is closely following the progress of the bill. She said that since Ali’s listing in 2014, she has filed with the US Securities and Exchange Commission to demand herself with high standards of transparency.

03

Chinese e-commerce has become a battle between Huang Zheng and Ma Yun.

In ten years, the Internet has completely changed.

We are afraid that Ma Yun would never have thought that when Ali and Jingdong fought to death, their opponents turned out to be “Houlang”-Pinduoduo. The rise of Pinduoduo has not only reshaped Chinese e-commerce, but it has also rewritten the Internet landscape in China.

JD.com was squeezed into the third position of Chinese e-commerce. In October 2019, Pinduoduo surpassed JD.com for the first time with a market value of US $ 46.44 billion; on May 12, 2020, Pinduoduo surpassed Jingdong once again. Until May 22, Pinduoduo broke away from Jingdong 90 100 million US dollars, which is equivalent to RMB 64.1 billion.

When the market value surpassed Jingdong more than once, when the ByteDance company became a behemoth in the Internet industry, and Baidu became the measurement unit of the Internet company’s market value … We started to think about that how China Mobile’s Internet will enter the new decade Ranking.

Let us recall that in the first ten years of the 21st century, the Internet completely subverted the development trajectory of the entire world. Chinese Internet technology companies have taken the lead and achieved the business empire of Alibaba, Tencent, Baidu and other companies. Lei Jun, the founder of Xiaomi, lamented that countless people questioned the Internet as a bubble in the past two decades. However, today’s top ten global market value has undergone dramatic changes, which fully proves the enormous power of the Internet.

During this period, Chinese Internet is still like a wasteland reclamation. BAT, named Baidu, Alibaba, and Tencent, dominates the minds of the previous generation of Internet users. B occupies information acquisition, A occupies consumption, and T occupies social. BAT, we shouted for nearly a decade.

However, in 2014, the advent of the mobile Internet era broke this balance. In that year, Alibaba listed on the New York Stock Exchange, Tencent won the 3Q war, Didi made a lot of money to fight the price war, the US group was hungry and grabbed the takeaway, Zhang Yiming’s today’s headline (tou tiao) is running smoothly, Huang Zheng made a game company It’s called “seeking dreams” …

In the shadow of BAT, China still has three quasi-giants: Toutiao, Meituan and Didi. It is also called TMD. TMD grew up on the edge of the BAT business. It grew rapidly but was relatively independent, so it inevitably became an opponent of BAT.

At the same time, as a number of enterprises such as Xiaomi, Pinduoduo, Meituan, and Station B began to go to the United States and go to Hong Kong for listing, these batches of startup companies that were born in the era of mobile Internet are collectively maturing. In this process, Baidu gradually failed to keep up with the pace. The latest news is that it intends to withdraw from the market and return to the country. Although Baidu has rumored, the outside world believes that this seems to be one of Baidu’s few choices.

According to the laws of economics, the economy is cyclical. Every ten years, the top ten companies by global market value are basically eliminated and then replaced with a new wave of new companies. Today, this scene is being staged in Chinese Internet.