According to the information obtained from the official government portal of the State Post Bureau, Pinduoduo‘s subsidiary Yucan Information Technology Co., Ltd. in multiple locations has obtained a license to operate express delivery services (excluding letters) at service stations, under the brand name “Pinduoduo Station”.
The scope of the licenses obtained by these companies includes Wuxi, Xuzhou, Nanjing, Binzhou, Zibo, Jinan, Nanning, Jinzhong, Changsha, Chenzhou, Hengyang and Shanghai.
The State Post Bureau stipulates that operating express delivery stations must be registered, and the registration subject needs to obtain an express delivery business operation license. Obtaining a license means Pinduoduo will enter the express delivery station market and officially enter the end-to-end service sector of express delivery.
Pinduoduo has previously cooperated with multiple express delivery companies through Duoduo Mai Cai (Pinduoduo‘s grocery shopping platform) and has laid out in the community group buying field, aiming to create an integrated online and offline business model, improve logistics efficiency, and reduce operational costs.
Pinduoduo released its financial report for the fourth quarter and full year of 2023. The revenue in the fourth quarter of 2023 was RMB 88.88 billion, compared to RMB 39.82 billion in the same period last year, exceeding market expectations of RMB 79.874 billion, with a year-on-year growth of 123%. Pinduoduo‘s total revenue for the full year of 2023 was RMB 247.6 billion, representing a year-on-year growth of 90%. The net profit attributable to ordinary shareholders was RMB 60.265 billion, an increase of 90% from RMB 31.5381 billion in 2022.
SEE ALSO: Pinduoduo’s Temu Sees Explosive Growth in South Korea with Aggressive Marketing Strategies
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