Pinduoduo Inc. (PDD)

We are an innovative and fast growing “new e-commerce” platform that
provides buyers with value-for-money merchandise and fun and interactive
shopping experiences. Our Pinduoduo mobile platform offers a comprehensive
selection of attractively priced merchandise, featuring a dynamic social
shopping experience that leverages social networks as an effective and efficient
tool for buyer acquisition and engagement. As a result of our innovative
business model, we have been able to quickly expand our buyer base and establish
our brand recognition and market position. We are one of the leading Chinese
e-commerce players in terms of GMV and the number of total orders. Our GMV in
2017 and the twelve-month period ended June 30, 2018 was RMB141.2 billion and
RMB262.1 billion (US$41.8 billion), respectively. In 2017 and the twelve-month
period ended June 30, 2018, the number of total orders placed on our Pinduoduo
mobile platform reached 4.3 billion and 7.5 billion, respectively.  

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