拼多多一季度净利跌逾一成：管理层称业绩波动在所难免将联合全球知名IP深度共创

澎湃新闻05-28 07:47

拼多多新一季度财报低于市场预期。　　5月27日，拼多多（Nasdaq:PDD）发布2026年第一季度财报，今年一季度财报显示，拼多多总营收1062.29亿元，同比增长11%，低于市场预期的1086.02亿元；Non-GAAP净利润141亿元，同比减少17%，大幅低于市场预期；归属于普通股股东的净利润为125亿元，同比下降15%。财报称，利润下降主要源于“千亿扶持”计划及供应链投入。　　从营收结构看...

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join forces with world-renowned IP in depth","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PDDL":0.6,"KPDD":0.6,"PDD":1.98},"content_text":"拼多多新一季度财报低于市场预期。　　5月27日，拼多多（Nasdaq:PDD）发布2026年第一季度财报，今年一季度财报显示，拼多多总营收1062.29亿元，同比增长11%，低于市场预期的1086.02亿元；Non-GAAP净利润141亿元，同比减少17%，大幅低于市场预期；归属于普通股股东的净利润为125亿元，同比下降15%。财报称，利润下降主要源于“千亿扶持”计划及供应链投入。　　从营收结构看，交易服务收入成为拉动增长的核心引擎。一季度，拼多多交易服务收入达563亿元，同比增长20%；在线营销服务及其他收入为499亿元，较去年同期的487亿元基本持平。　　在开支方面，营业费用比较上年同期增长约12亿元至398亿元。其中，销售和市场费用338亿元，一般及行政费用16亿元，较上年同期基本持平，研发费用44亿元，较上年的36亿元增长约22%。　　去年12月，在年度股东大会上，拼多多宣布实行联席董事长制度，并将公司的战略重心聚焦到“重仓中国供应链”，力争三年再造一个拼多多。今年一季度，拼多多宣布，新拼姆专项公司正式落地上海。　　在财报后的电话会议中，拼多多集团联席董事长兼联席CEO赵佳臻回应称，三年再造拼多多的重大战略进入深化发展新阶段。今年3月在上海成立了专项公司，正式开启品牌自营业务，首期现金注资150亿元，未来三年计划投入1000亿元。团队正深入产业一线，加快整合供应链资源，联合全球知名IP进行深度共创，孵化面向不同市场、不同品类的品牌，全方位赋能供应链迈向品牌化，推动供应链体系实现价值跃迁。　　赵佳臻表示，在接任董事长后，将围绕“新十年高质量发展”这一核心，启动公司组织与文化的整体重塑。要求新一届的团队必须直面问题，坚决进行组织内部的自我变革，踏踏实实，久久为功，用扎实的行动与可检验的成果，回应外界的关切与期许，不负各方的信任与支持。　　“新的发展阶段也是塑造新团队、新机制和新文化的契机，自我革新不会一蹴而就，我们将在内部管理和平台治理上持续刀刃向内，用实际行动回应外界关切，坚决再造拼多多。”赵佳臻表示。　　拼多多CEO陈磊则表示，在国际业务上，未来拼多多会从两方面发力。首先将继续推进供应链资源的整合优化，打通各个环节上的瓶颈。这不仅能够丰富平台的商品品类，也更能实质性地提升消费者的购物体验。在这个过程中，将积极吸纳优质商家和生态伙伴的加入，平台会融入到各个市场的商业业态中去。　　其次将发展品牌自营的模式，特别是在全球市场，尤其是要通过品牌化的建设去增强消费者对平台商品“优质优价”的用户心智。与此同时，品牌化的发展也是进一步提升商品品质标准的重要途径，能够在日益复杂的监管环境中进一步提升平台的合规能力。　　“电商行业的竞争其实是非常激烈的，我们也观察到消费者在不同的平台之间转化成本很低。大家可以看得到的是，平台之间通过营销的手段来争取消费者，但是更长期、更可持续的优势还是来自于这些看不见的底层的供应链能力。”陈磊说。　　谈到本季度在利润表现上的波动，据拼多多高管表示，拼多多追求的是平台内在价值的长期、可持续增长。在这一过程中，受季节性因素以及投资节奏的影响，季度间的业绩波动在所难免。拼多多平台长期价值的根基在于持续为消费者和生态伙伴创造价值。因此将坚定推进长期供应链建设，包括自有品牌战略、村级直达配送网络以及供应链布局等重点项目。这些投入虽然着眼长远，但将为行业创造可观的长期价值，并培育新的增长动能。未来，拼多多仍将坚定地投入这些关键领域。与短期的财务指标相比，更加重视平台生态的健康、繁荣以及供应链能力的持续沉淀。这些能力不仅是平台长期竞争优势的重要来源，也将是最终决定平台内在价值的关键路径。　　截至27日美股收盘，拼多多跌10.38%，报收86.61美元。（文章来源：澎湃新闻）","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"dataReport","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":1,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 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拼多多一季度净利跌逾一成：管理层称业绩波动在所难免 将联合全球知名IP深度共创

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拼多多一季度净利跌逾一成：管理层称业绩波动在所难免将联合全球知名IP深度共创