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拼多多

100.60

+1.271.28%

盘后：100.55-0.0500-0.05%19:59 EDT

成交量：548.41万

成交额：5.48亿

市值：1,428.16亿

市盈率：10.90

高：100.84

开：99.29

低：99.19

收：99.33

数据加载中...

总览公司新闻公告

拼多多“减速换挡”，“千亿扶持”功夫不在一朝一夕

【天风海外|互联网】拼多多2025Q1业绩点评：利润短期承压，看好公司长期发展

利润下降近四成，短期承压的财报中，藏着拼多多未来增长的秘密

拼多多割肉补商家

主动降速，拼多多的千亿长跑

东哥解读电商

拼多多为什么敢牺牲短期业绩？

拼多多需要一场“外卖”叙事

拼多多6月3日成交额为7.40亿美元

千亿投入换万亿市场，拼多多找到了撬动未来增长的杠杆

拼多多不想再靠赚钱证明自己了

利润暴跌五成，拼多多千亿扶持动真格

21世纪商业评论

中国电商三巨头如何应对各自命运？

拼多多不走寻常路

财经故事荟

拼多多财报背后的长期主义：平台笃定“千亿扶持”，有商家订单同比增3倍

拼多多需要新的增长叙事

华尔街科技眼

拼多多6月2日成交额为6.04亿美元

拼多多的快与慢

Ofweek光电信息网

从“颠覆者”到“守城人”：拼多多如何打破“增长诅咒”？

Ofweek光电信息网

烧掉一半净利润，拼多多想培育怎样的“生态”？

陆玖商业评论

拼多多的道心，没破碎过

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00:34","pubTimestamp":1749054864,"startTime":"0","endTime":"0","summary":"天 风 海 外 团 队拼多多2025Q1业绩点评：利润短期承压，看好公司长期发展事件：业绩概览：2025Q1公司营业收入同比增长10%至957亿元；拆分来看，公司25Q1营销服务收入为487亿元，同比增长15%；交易服务收入同比增长6%至470亿元，公司指出Q1营收增速放缓主要受竞争加剧和外部不确定性因素影响；盈利有所波动主要系公司在商家支持和平台生态建设上加大投入。公司25Q1调整后净利润同比减少45%至169亿元，Non-GAAP净利率为18%。","market":"us","thumbnail":null,"type":0,"news_type":0,"thumbnails":[],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250605003547a49a25f1&s=b","rn_cache_url":null,"customStyle":"body{padding-top:10px;}#news_title{font-weight:bold;#titleStyle#;}#news_description span{font-size:12px;#descriptionStyle#;}.footer-note{#statement#}","selectors":".mod-LoadTzbdNews, body","filters":".relate-stock, .hot-list, .recom-box, 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20:40","pubTimestamp":1749040814,"startTime":"0","endTime":"0","summary":"数据显示，荣昌卤鹅的网络曝光率增长了4050%。01“牺牲短期业绩” 拼多多说到做到5月27日，拼多多公布了2025年第一季度未经审计财务业绩，财报显示，报告期内拼多多实现营收956.722亿元，同比增长10%，增速有所放缓；实现营业利润160.856亿元，同比下降38%；实现归属于普通股股东的净利润147.42亿元，同比下降47%。鳌头财经了解到，目前“伊之福”在拼多多的销售已覆盖了周志宇工厂3亿年产值的一半。","market":"us","thumbnail":null,"type":0,"news_type":0,"thumbnails":[],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250604205541a6fa4cf0&s=b","rn_cache_url":null,"customStyle":"body{padding-top:10px;}#news_title{font-weight:bold;#titleStyle#;}#news_description span{font-size:12px;#descriptionStyle#;}.footer-note{#statement#}","selectors":".mod-LoadTzbdNews, body","filters":".relate-stock, .hot-list, .recom-box, 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17:25","pubTimestamp":1749029121,"startTime":"0","endTime":"0","summary":"今年4月，在“百亿减免”基础上，拼多多推出“千亿扶持”，计划未来三年投入资金、流量等资源超1000亿元，扩大对中小商家的帮扶和补贴。这一论断的出发点或许是，拼多多已是一个单季度GMV破万亿的巨型电商平台。根据财报测算，上季度拼多多GMV约为1.07万亿元，是体量最大的电商平台之一。相对应的，拼多多连续多个季度减速。","market":"us","thumbnail":null,"type":0,"news_type":0,"thumbnails":[],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250604172747a499a4e4&s=b","rn_cache_url":null,"customStyle":"body{padding-top:10px;}#news_title{font-weight:bold;#titleStyle#;}#news_description span{font-size:12px;#descriptionStyle#;}.footer-note{#statement#}","selectors":".mod-LoadTzbdNews, body","filters":".relate-stock, .hot-list, .recom-box, 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17:01","pubTimestamp":1749027660,"startTime":"0","endTime":"0","summary":"因为，2025年第一季度财报显示，拼多多的业绩增速有所放缓——营收957亿元，同比增长10%。如今，拼多多平台敢于牺牲短期业绩，激进投入商家扶持。拼多多启动“多多好特产”项目，助推环县羊肉加速走向全国。碳板跑鞋在拼多多热销后，王智福计划将老品类全线更新为各类运动鞋。产业转型，颇具成效“千亿扶持” 首批举措的落地细节，勾勒出拼多多独特的商业逻辑。文水牛肉借拼多多打响知名度畅销全国。","market":"us","thumbnail":null,"type":0,"news_type":0,"thumbnails":[],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250604173227a499a6fb&s=b","rn_cache_url":null,"customStyle":"body{padding-top:10px;}#news_title{font-weight:bold;#titleStyle#;}#news_description span{font-size:12px;#descriptionStyle#;}.footer-note{#statement#}","selectors":".mod-LoadTzbdNews, body","filters":".relate-stock, .hot-list, .recom-box, 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14:23","pubTimestamp":1749018187,"startTime":"0","endTime":"0","summary":"从这个角度看，错过AI叙事的拼多多，可能需要讲一个“外卖”新故事。显然，拼多多也需要一个新的“战场”来重新证明其战斗力。但当遭遇不以人的意志为转移的高度不确定性，拼多多亟需一个更可控、更依赖内部组织力和执行效率的战场。拼多多在财报电话会上强调“千亿扶持中小商家”，确实体现了其长期主义策略。","market":"us","thumbnail":null,"type":0,"news_type":0,"thumbnails":[],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250604142438a4996342&s=b","rn_cache_url":null,"customStyle":"body{padding-top:10px;}#news_title{font-weight:bold;#titleStyle#;}#news_description span{font-size:12px;#descriptionStyle#;}.footer-note{#statement#}","selectors":".mod-LoadTzbdNews, body","filters":".relate-stock, .hot-list, .recom-box, 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11:48","pubTimestamp":1749008921,"startTime":"0","endTime":"0","summary":"美东时间2025年6月3日，拼多多成交额为7.40亿美元，成交额较昨日增加22.58%，当日成交量为757.49万股。拼多多于2025年6月3日涨1.96%，报98.33美元，该股过去5个交易日跌4.52%，年初至今涨1.38%，过去60日跌18.0%。其主要业务是中国的社交商务平台拼多多和全球电子商务市场 Temu。拼多多在中国也有社区团购业务。拼多多建立了一个由采购、物流和配送能力组成的网络，以支持其基础业务。","market":"us","thumbnail":null,"type":0,"news_type":0,"thumbnails":[],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250604114843a4993bf9&s=b","rn_cache_url":null,"customStyle":"body{padding-top:10px;}#news_title{font-weight:bold;#titleStyle#;}#news_description span{font-size:12px;#descriptionStyle#;}.footer-note{#statement#}","selectors":".mod-LoadTzbdNews, body","filters":".relate-stock, .hot-list, .recom-box, 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09:44","pubTimestamp":1749001450,"startTime":"0","endTime":"0","summary":"归属于普通股股东的净利润为147.42亿元，同比下降47%。与此同时，财报数据显示，拼多多营收放缓，利润下滑，营销费用却同比激增百亿。利润之上的追求拼多多为何千亿投入换万亿市场是时候破局了。比如，2025年4月开启的“千亿扶持”，计划未来三年内投入资金、流量等资源超1000亿元，用来构建用户、商家及平台多方共赢的商业生态。2024年，李诗宣拼多多店铺销售额直逼1.5亿元。预计2025年，公司在拼多多平台的销售量可达数千万单。","market":"us","thumbnail":null,"type":0,"news_type":0,"thumbnails":[],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250604094743a4991567&s=b","rn_cache_url":null,"customStyle":"body{padding-top:10px;}#news_title{font-weight:bold;#titleStyle#;}#news_description span{font-size:12px;#descriptionStyle#;}.footer-note{#statement#}","selectors":".mod-LoadTzbdNews, body","filters":".relate-stock, .hot-list, .recom-box, 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21:08","pubTimestamp":1748956091,"startTime":"0","endTime":"0","summary":"过去数个季度，拼多多加大了对高质量发展的投入，将百亿减免举措升级为“千亿扶持”计划，核心是对供需两侧投入的进一步加码，将大量利润反哺给商家和消费者。今年4月，拼多多推出重磅惠商计划“千亿扶持”，未来三年拟投入资金、流量等超过1000亿元，加码高质量电商生态建设。李鸣涛认为，拼多多推出“百亿减免”，直接降低中小企业的运营成本，再通过扶持计划培育和引导商家建立差异化竞争能力。","market":"us","thumbnail":null,"type":0,"news_type":0,"thumbnails":[],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250603211200a6f8b6ba&s=b","rn_cache_url":null,"customStyle":"body{padding-top:10px;}#news_title{font-weight:bold;#titleStyle#;}#news_description span{font-size:12px;#descriptionStyle#;}.footer-note{#statement#}","selectors":".mod-LoadTzbdNews, body","filters":".relate-stock, .hot-list, .recom-box, 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19:30","pubTimestamp":1748950238,"startTime":"0","endTime":"0","summary":"拼多多CEO陈磊早就做过预警，叠加行业竞争加剧和外部不确定性，高增长不可持续。再加上如今GMV跃居行业老二的拼多多，新势力TPD重购了电商格局。拼多多则实现了真正的消费平权。从2024年9月9日起，拼多多免除商家偏远地区订单物流中转费，全部由平台承担，西藏和新疆的物流成本拉低看齐内陆地区。西进政策推出后，拼多多平台头部轮胎商家山东迈瑞途的西部订单，暴涨了10倍不止。","market":"us","thumbnail":null,"type":0,"news_type":0,"thumbnails":[],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250603193203a498358d&s=b","rn_cache_url":null,"customStyle":"body{padding-top:10px;}#news_title{font-weight:bold;#titleStyle#;}#news_description span{font-size:12px;#descriptionStyle#;}.footer-note{#statement#}","selectors":".mod-LoadTzbdNews, body","filters":".relate-stock, .hot-list, .recom-box, 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18:46","pubTimestamp":1748947573,"startTime":"0","endTime":"0","summary":"有河南鸭蛋商家就表示，端午节前后，鸭蛋订单量同比增长了3倍，而增量主要源于平台“千亿扶持”中电商西进对中西部市场的开拓。这背后也是拼多多“千亿扶持”推动电商西进带来的中西部全新市场开拓。今年4月，拼多多在“百亿减免”的基础上升级了“千亿扶持”计划，将在未来三年内投入千亿资源包助力中小商家积极转型。","market":"us","thumbnail":null,"type":0,"news_type":0,"thumbnails":[],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250603185835a6f8861a&s=b","rn_cache_url":null,"customStyle":"body{padding-top:10px;}#news_title{font-weight:bold;#titleStyle#;}#news_description span{font-size:12px;#descriptionStyle#;}.footer-note{#statement#}","selectors":".mod-LoadTzbdNews, body","filters":".relate-stock, .hot-list, .recom-box, 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陈磊在2025年Q1财报电话会议上强调，以此来回应本季度净利润大幅下滑的情况。与拼多多Q1业绩形成明显反差的是，阿里巴巴和京东在同期交出了营收与净利润双增长的亮眼答卷。主站增长失速、跨境电商业务遭遇挑战，拼多多需要新的增长叙事。）鉴于拼多多当下的增长全部依靠于打造商家生态，投资机构对其未来几个季度的业绩持保留态度。","market":"us","thumbnail":null,"type":0,"news_type":0,"thumbnails":[],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250603160639a497e346&s=b","rn_cache_url":null,"customStyle":"body{padding-top:10px;}#news_title{font-weight:bold;#titleStyle#;}#news_description span{font-size:12px;#descriptionStyle#;}.footer-note{#statement#}","selectors":".mod-LoadTzbdNews, body","filters":".relate-stock, .hot-list, .recom-box, 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11:42","pubTimestamp":1748922146,"startTime":"0","endTime":"0","summary":"美东时间2025年6月2日，拼多多成交额为6.04亿美元，成交额较昨日减少63.57%，当日成交量为628.82万股。拼多多于2025年6月2日跌0.07%，报96.44美元，该股过去5个交易日跌19.12%，年初至今跌0.57%，过去60日跌19.51%。其主要业务是中国的社交商务平台拼多多和全球电子商务市场 Temu。拼多多在中国也有社区团购业务。拼多多建立了一个由采购、物流和配送能力组成的网络，以支持其基础业务。","market":"us","thumbnail":null,"type":0,"news_type":0,"thumbnails":[],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250603114227a6f7f65c&s=b","rn_cache_url":null,"customStyle":"body{padding-top:10px;}#news_title{font-weight:bold;#titleStyle#;}#news_description span{font-size:12px;#descriptionStyle#;}.footer-note{#statement#}","selectors":".mod-LoadTzbdNews, body","filters":".relate-stock, .hot-list, .recom-box, 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10:27","pubTimestamp":1748917620,"startTime":"0","endTime":"0","summary":"2，拼多多佣金收入为469.50亿元，明显低于一致预期的560亿元。3，拼多多销售费用从去年同期的234.11亿元，同比增加43%至334.03亿元。2024年Q2业绩电话会上，拼多多管理层曾明确表示，要做好牺牲短期利润、长期投入的准备。拼多多以短期阵痛去换取生态韧性，价值指向也是更关注长期价值而非单个季度的财务表现。可以说，拼多多的利润，因战略性让利举动而减少，中国农产区和产业带正因其长期投入而跃升。","market":"us","thumbnail":null,"type":0,"news_type":0,"thumbnails":[],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250603103326976f2d9c&s=b","rn_cache_url":null,"customStyle":"body{padding-top:10px;}#news_title{font-weight:bold;#titleStyle#;}#news_description span{font-size:12px;#descriptionStyle#;}.footer-note{#statement#}","selectors":".mod-LoadTzbdNews, body","filters":".relate-stock, .hot-list, .recom-box, 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