Pinduoduo Inc (NASDAQ:PDD) Q1 2019 Earnings Conference Call - Final Transcript

May 20, 2019 • 07:30 am ET


Pinduoduo Inc (NASDAQ:PDD) Q1 2019 Earnings Conference Call - Final Transcript


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Once again, ladies and gentlemen, thank you for standing by and welcome to the Pinduoduo First Quarter 2019 Earnings Conference Call. At this time all participants are in a listen-only mode. There will be a presentation followed by a question-and-answer session (Operator Instructions).

I would not like to hand the conference over to our first speaker today Mr. Victor Tseng. Please go ahead, sir.

Victor Tseng

Thank you, operator. Hello, everyone, and thank you for joining us today. Pinduoduo's earnings release was distributed earlier and is available on our IR website at, as well as through Globe Newswire services.

On the call today from Pinduoduo are Mr. Zheng Huang, Chairman and Chief Executive Officer; and Mr. David Liu (ph), Vice President of Strategy. Mr. Huang, will review business operations and company highlights, followed by Mr. Liu, who will discuss financials, they will both be available to answer your questions during the Q-and-A session that follows.

Before we begin, I'd like to remind you that this conference contains forward-looking statements made within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as will, expect, anticipate, future, intend, plans, believes, estimates, targets, going forward, outlook and similar statements.

Such statements are based upon management's current expectations and current market operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict, and many of which are beyond the Company's control, which may cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements.

Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statements as a result of new information, future events or otherwise, except as required under applicable law.

It is now my pleasure to introduce Chairman and Chief Executive Officer, Mr. Huang. Zheng, please go ahead.

Zheng Huang

Okay. Thank you, Victor, and thanks everyone for joining us, our first quarter 2019 results discussion. I'm happy to report that we kicked-off this year with a strong quarter, thanks to our team's hard work and a strong execution across the Board. I also wish to thank our users for their continued support. As I mentioned in my letter to shareholders, several weeks ago, Pinduoduo is turning four this year. We are still very much a startup. But I'm confident that our young Company will continue to make a significant progress this year, as our new e-commerce model is well aligned with the industry evolution and the best interests of all e-commerce participants. By focusing on benefiting all, putting people first, and in being more open, we keep delivering differentiated value to all the users and the merchants. We will continue to prioritize investments to pay its long-term