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MCH Top Holding Pinduoduo Rises on Third-Quarter Profit Surpass

2022/11/30 (Nov 30th, 2022 7:44 am)
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Pinduoduo increased in price by about 14% in premarket trading on Monday, reaching $76.43. The momentum continued on Tuesday, as the fund increased by more than 6% to reach $78.55 in midday trading. The stock of Pinduoduo has increased by over 43% in the most recent month, bringing its year-to-date returns to 40%.

Technology is used by Pinduoduo, a PDD Holdings subsidiary, to support and advance traditional agriculture.
Pinduoduo reported revenue growth of 65% year over year to 35.5 billion yuan in the third quarter, exceeding the average estimate of 30.94 billion yuan made by analysts surveyed by Refinitiv. The platform increased consumption using various strategies, such as coupons and promotional events, increasing the company’s revenue from online marketing services and transaction services by 58% and 102%, respectively, year over year.

However, Pinduoduo claimed that the company’s increased investments to strengthen its platform and enhance the supply chain make it unlikely that the profit surge seen in the third quarter will last.

The third quarter’s investment in some projects was impacted, according to Jun Liu, vice president of finance at Pinduoduo.
As of November 29, Pinduoduo had an 8.7% weighting and was the largest holding in the Matthews China Active ETF (MCH).

In order to maintain consistency through cycles, it employs an all-cap fundamental GARP approach that is driven by proprietary research and combines long-term core holdings with more opportunistic ideas. MCH provides concentrated exposure to China, but it has a more futuristic perspective on complex and vast geography than many indexes.

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