Professional
Added to YB: 2024-09-06
Pitch date: 2024-08-27
PDD [bullish]
PDD Holdings Inc.
-13.73%
current return
Author Info
Hayden Capital is an investment firm that follows a research-intensive, concentrated strategy. We travel the world, seeking to invest in growing businesses run by world-class founders. Sign up for the newsletter.
Company Info
PDD Holdings Inc., a multinational commerce group that owns and operates a portfolio of businesses. The company operates Pinduoduo platform, which provides various product categories and interactive shopping experiences; and Temu, an online platform, which enables merchants to streamline their manufacturing and commercial operations.
Market Cap
$801.2B
Pitch Price
$95.50
Price Target
N/A
Dividend
N/A
EV/EBITDA
3.70
P/E
8.72
EV/Sales
0.84
Sector
Broadline Retail
Category
growth
Hayden Capital Portfolio Holding: PDD Holdings Inc.
PDD: Duoduo Grocery profitable (5-15% margins), ~$2.5B annual profit. Q2 results strong: rev +86% YoY, net income +125% YoY. Stock -28% on cautious outlook. Mgmt signaling aggressive expansion into high-end market & Temu. Trading at 5x 2024 EV/EBIT, -45% vs BABA. Potential offensive move, not weakness.
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