Pinduoduo Inc (NASDAQ:PDD) Q1 2020 Earnings Conference Call - Final Transcript

May 22, 2020 • 07:30 am ET

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Pinduoduo Inc (NASDAQ:PDD) Q1 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Ladies and gentlemen, welcome to Pinduoduo First Quarter 2020 Earnings Conference Call. [Operator Instructions] After the management's prepared remarks, there will be a Q&A session. [Operator Instructions]

I would now like to turn the conference over to your first speaker today, Mr. Nick Shu [Phonetic]. Please go ahead, sir.

Executive
Nick Shu

Thank you, Rachel. Hello, everyone, and thank you for joining us today. Pinduoduo's earnings release was distributed earlier and is available on the IR website at investor.pinduoduo.com, as well as through the global newswire services.

On today's call, our CEO, Colin Huang, will make some general remarks on our performance for the first quarter of 2020, on the COVID-19 implication on our industry, our business and our team. Our VP of Strategy, David Liu, will then elaborate further on the strategic initiatives, as well as take us through our financial results for the first quarter ended March 31st, 2020.

Before we begin, I'd like to remind you that this conference contains forward-looking statements within the meaning of Section 21E of the US Securities Exchange Act of 1934, as amended and as defined in the US Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminologies such as will, anticipate, and similar statements. Such statements are based upon management's current expectations and the current market operating conditions and relate to events that involve known and 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 that are included in the company's filings with the US Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statements as a result of new information for the events or otherwise, except as required under the applicable laws.

Now, it is my pleasure to introduce Chairman and Chief Executive Officer, Mr. Huang. Mr. Huang, please go ahead.

Executive
Colin Zheng Huang

Thank you, Nick. Hello, everyone, and thank you for joining our first quarter 2020 results announcement. It is hard to believe that we're nearly halfway through the year, while COVID-19 has put a much of the world on a holding pattern since February, it has also resulted in a period of intense activity for many industries and the companies seeking to cope with such a unprecedented phenomenon.

COVID-19 has unleashed a powerful forces that are changing the way we live, work and play. It has compressed the years of the behavioral change and accelerated the adoption of online commerce at an unprecedented pace. Now, more than ever, people are relying on online platforms to meet not just their discretionary one, but for their critical need.

For a while e-commerce has crossed an important threshold and have become more integral to people's lives. This change also requires a lot of trust on the part of consumers, something that platforms must