Pinduoduo’s revenue in the fourth quarter of 2023 skyrocketed 123% YoY to $13.8 billion (88.9 billion RMB), while net profit for the quarter surged 146% YoY to $3.6 billion (23.3 billion RMB). This marks the first time Pinduoduo has achieved triple-digit growth in both revenue and profit since 2021. For the full year 2023, revenue soared by 90% YoY to $38.5 billion (247.64 billion RMB), and net profit surged by 90 percent YoY to $9.3 billion (60.02 billion RMB). Since its global business Temu was launched in September 2022, it has expanded into over 50 countries and regions worldwide.