Pinduoduo disclosed the latest equity situation: Huang Zheng still holds 27.9% and is the largest shareholder, while Sequoia Shen NANPENG reduced his holdings
May 13th, 2022

Source: visual China

Recently, pinduoduo’s latest annual report submitted to the securities and Exchange Commission (SEC) disclosed pinduoduo’s shareholders.

As of February 28, Huang Zheng, founder of pinduoduo, was still the largest shareholder of the company, with a shareholding ratio of 27.9%, followed by Tencent, with a shareholding of 15.5%, the collective shareholding of pinduoduo partners was 7.3%, banyan partners funds held 6.6% and Sequoia Capital held 2.6%.

As of February 28, 2022, the shareholding of pinduoduo’s major shareholders

Compared with the same period of the previous year, Huang Zheng’s shareholding ratio decreased slightly. As of February 28, Huang Zheng held 1409744080 class a ordinary shares of the company, accounting for 27.9%. In the same period of the previous year (as of March 31, 2021), Huang Zheng held 1409744080 class a ordinary shares, accounting for 28.1%.

The affiliated entity of Tencent, the second largest shareholder, owns 783468116 class a ordinary shares, accounting for 15.5%, compared with 783217772 shares in the same period of last year, accounting for 15.6%.

Shen NANPENG, founder and executive partner of Sequoia China, held 132876308 class a ordinary shares, accounting for 2.6%, while he held 183684400 class a ordinary shares, accounting for 3.7% in the same period last year. This year, Shen NANPENG reduced 5080892 class a ordinary shares.

Shares held by major shareholders of pinduoduo in the same period of the previous year (as of March 31, 2021)

In addition, pinduoduo partnership collectively held 370772220 class A shares, accounting for 7.3%, compared with 7.4% in the same period last year. Pinduoduo’s directors and senior management team, including pinduoduo CEO Chen Lei, independent director Gan Bingliang, director Lin Haifeng, independent director Lu Qi, independent director George Yong boon Yeo, vice president of Finance Jun Liu, senior vice president of operations Junyun Xiao, senior vice president of product R & D Zhenwei Zheng and consultant Jianzhong Zhu, each hold less than 1% of the shares.

Banyan partners funds, a subsidiary of Gaorong capital, held 6.6% of the shares, compared with 7.2% in the same period last year.

According to the annual report, pinduoduo’s total revenue in 2021 was 93.949 billion yuan, an increase of 57.9% compared with 59.491.9 billion yuan in 2020, mainly due to the increase of brand activities, more active merchants and the provision of richer products, which increased the number of active buyers and the annual expenditure of a single active buyer. The net profit attributable to ordinary shareholders of pinduoduo was 7.768.7 billion yuan, compared with a net loss of 7.179.7 billion yuan in the same period of the previous year.

Pinduoduo’s revenue and cost in 2021 was 31.7111 billion yuan, a year-on-year increase of 64.5%. Pinduoduo explained that it was mainly due to the increase of payment processing fee and cost, as well as the increase of operating expenses of pinduoduo on other platforms and companies.

In terms of gross profit, pinduoduo’s gross profit was 62.231.8 billion yuan in 2021 and 40.213.2 billion yuan in the same period in 2020.

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