$拼多多(PDD)$_老虎社区_美港股上老虎 - 老虎社区

$拼多多(PDD)$ 悬念提前揭晓，过两天会把我分析的过程发出来和大家讨论。拼多多真的是很少的，公司信息极度隐秘但收入结构清晰的公司(反观阿里业务就很杂)，所以很适合个体搜集信息来做判断。

@三千波比：拼多多Q4财报收入的确定性与不确定性

晒晒更赚钱

晒晒你的盈亏单，秀秀虎友们的实力！

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vision
2024-03-20
vision
很期待你的分享
nicegame
2024-03-20
nicegame
厉害👍

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tg-height=\"368\"></p>\n<p>Temu指标</p>\n<p>网站每月流量：</p>\n<p>Feb23-Jul23</p>\n<p></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/06757b58133ec63d4be583146e61da3d\" tg-width=\"1376\" tg-height=\"666\"></p>\n<p>Aug23-Jan24</p>\n<p></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b7bde5413494eac9863b2728622e4eed\" tg-width=\"2176\" tg-height=\"1048\"></p>\n<p>Temu卖家下载量：</p>\n<p></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/80d49b515673dff3cdd3e8fd3c3525b9\" tg-width=\"2130\" tg-height=\"840\"></p>\n<p>….</p>\n<p>未完待续,有人看就继续写</p></body></html>","htmlText":"<html><head></head><body><p><strong>前提</strong>：本文适合有一定财务知识，了解过拼多多公司的朋友阅读，不然你都不懂我们在讨论什么。</p>\n<p style=\"text-align: start;\"><strong>结论</strong>：Q4财报关键在于四季度 <strong>国内拼多多是否稳定增长</strong> 和 <strong>Temu是否持续爆炸增长</strong>。</p>\n<p style=\"text-align: start;\"><strong>关键词</strong>：四季度，GMV，佣金收入</p>\n<p></p>\n<p class=\"t-img-caption\"><img 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class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/80d49b515673dff3cdd3e8fd3c3525b9\" tg-width=\"2130\" tg-height=\"840\"></p>\n<p>….</p>\n<p>未完待续,有人看就继续写</p></body></html>","text":"前提：本文适合有一定财务知识，了解过拼多多公司的朋友阅读，不然你都不懂我们在讨论什么。 结论：Q4财报关键在于四季度 国内拼多多是否稳定增长 和 Temu是否持续爆炸增长。 关键词：四季度，GMV，佣金收入 逻辑：在研究完pdd历年财报和收入结构后，23年Q2Q3财报的超预期原因很明显， 1.国内市场下沉带来的pdd主体营收增加。 2.海外Temu作为第二增长曲线带来的巨额佣金收入。 简单来说，用pdd和Temu的人和商家比预测的多太多了，并且拼多多的收入结构相较于jd和bb有明显优势。（下文将围绕流量和收入结构来数据分析pddQ4财报） 指标： pdd国内指标 Temu指标 网站每月流量： Feb23-Jul23 Aug23-Jan24 Temu卖家下载量： …. 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