Chen Lei, Chairman and Co-CEO of Pinduoduo Group, said that in the first quarter, we invested heavily in the platform ecosystem to support merchants and consumers to cope with rapid changes in the external environment. These investments put pressure on short-term profitability, but gave merchants room to adapt and focus on high-quality, sustainable growth, and strengthened the long-term health of the platform.

Chen Lei, Chairman and Co-CEO of Pinduoduo Group, said that in the first quarter, we invested heavily in the platform ecosystem to support merchants and consumers to cope with rapid changes in the external environment. These investments put pressure on short-term profitability, but gave merchants room to adapt and focus on high-quality, sustainable growth, and strengthened the long-term health of the platform.