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{"i18n":{"language":"zh_CN"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":324650291,"tweetId":"324650291","gmtCreate":1615990684513,"gmtModify":1703496068623,"author":{"id":3568372815594089,"idStr":"3568372815594089","authorId":3568372815594089,"authorIdStr":"3568372815594089","name":"SharonMF","avatar":"https://static.tigerbbs.com/0622e369963193a4b95a24fec3db4181","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":16,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body>Like</body></html>","htmlText":"<html><head></head><body>Like</body></html>","text":"Like","highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/324650291","repostId":1194606272,"repostType":4,"repost":{"id":"1194606272","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1615990525,"share":"https://www.laohu8.com/m/news/1194606272?lang=zh_CN&edition=full","pubTime":"2021-03-17 22:15","market":"other","language":"en","title":"Pinduoduo drops more than 8%<blockquote>拼多多跌超8%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1194606272","media":"Tiger Newspress","summary":"(March 17) Pinduoduo drops more than 8%.Pinduoduo Q4 Non-GAAP EPS of -$0.02beats by $0.01; GAAP EPS ","content":"(March 17)&nbsp;Pinduoduo drops more than 8%.<img src=\"https://static.tigerbbs.com/fcf2dac380ffeb19c76c6409e91133a7\" tg-width=\"685\" tg-height=\"496\" referrerpolicy=\"no-referrer\"><blockquote>（3月17日）拼多多跌逾8%。</blockquote><ul><li>Pinduoduo Q4 Non-GAAP EPS of -$0.02beats by $0.01; GAAP EPS of -$0.17misses by $0.01.</li><li>Revenue of $4.07B (+162.6% Y/Y)beats by $1.2B.</li><li>Average monthly active users were 719.9M, an increase of 50% from 481.5M in Q4 2019.</li><li>GMV in the TTM ended Dec. 31, 2020 was RMB1,667.6B ($255.6B), +66% from RMB1006.6B in year ended Dec. 31, 2019.</li></ul>Fourth Quarter 2020 Highlights<blockquote><ul><li>拼多多第四季度非GAAP每股收益为-0.02美元超过预期0.01美元；GAAP每股收益为-0.17美元，低于预期为0.01美元。</li><li>收入为$4.07 B（同比+162.6%）超过预期$1.2 B。</li><li>平均月活跃用户为7.199亿，较2019年第四季度的4.815亿增长50%。</li><li>截至2020年12月31日，TTM的GMV为人民币1,667.6 B（$255.6 B），较截至2019年12月31日的年度人民币1006.6 B增长66%。</li></ul>2020年第四季度亮点</blockquote><ul><li>GMV1&nbsp;in the twelve-month period endedDecember 31, 2020wasRMB1,667.6 billion(US$2255.6 billion), an increase of 66% fromRMB1,006.6 billionin the twelve-month period endedDecember 31, 2019.</li><li>Total revenues&nbsp;in the quarter wereRMB26,547.7 million(US$4,068.6 million), an increase of 146% fromRMB10,792.7 millionin the same quarter of 2019.</li><li>Average monthly active users3&nbsp;in the quarter were 719.9 million, an increase of 50% from 481.5 million in the same quarter of 2019.</li><li>Active buyers4&nbsp;in the twelve-month period endedDecember 31, 2020were 788.4 million, an increase of 35% from 585.2 million in the twelve-month period endedDecember 31, 2019.</li><li>Annual spending per active buyer5&nbsp;in the twelve-month period endedDecember 31, 2020wasRMB 2,115.2(US$324.2), an increase of 23% fromRMB 1,720.1in the twelve-month period endedDecember 31, 2019.</li></ul>“We saw six years ago that mobile is the only way to go. Therefore, we are the only major consumer internet company in the world that is mobile only. The mobile internet fundamentally transforms the way humans interact with each other,” said Mr.Lei Chen, Chairman and Chief Executive Officer ofPinduoduo.<blockquote><ul><li>GMV1截至2020年12月31日止十二个月期间为人民币16,676亿元（22,556亿美元），较截至2019年12月31日止十二个月期间的人民币100,066亿元增长66%。</li><li>总收入本季度营收为265.477亿元人民币（40.686亿美元），较2019年同季度的107.927亿元人民币增长146%。</li><li>平均每月活跃用户数3本季度为7.199亿，较2019年同季度的4.815亿增长50%。</li><li>活跃买家4截至2020年12月31日止12个月期间为7.884亿，较截至2019年12月31日止12个月期间的5.852亿增长35%。</li><li>每位活跃买家的年度支出5截至2020年12月31日止十二个月期间为人民币2,115.2元（324.2美元），较截至2019年12月31日止十二个月期间的人民币1,720.1元增长23%。</li></ul>拼多多董事长兼首席执行官陈磊表示：“六年前，我们就看到移动是唯一的出路。因此，我们是世界上唯一一家只面向移动的大型消费互联网公司。移动互联网从根本上改变了人类的互动方式。”</blockquote>“This revolution is tearing down the walls between the physical and digital worlds. Being a mobile-only product in this new age, we are well-placed to benefit from the opportunities thrown up by each behavioral change.”<blockquote>“这场革命正在拆除物理世界和数字世界之间的围墙。作为这个新时代的纯移动产品，我们处于有利地位，可以从每一次行为变化带来的机遇中受益。”</blockquote>“One such change sweeping the world is agriculture and grocery.Pinduoduostarted with agricultural products, with the vision of offering consumers the ‘Costco + Disney’ experience of more savings and more fun. We are now the largest agriculture platform inChinaand we hope thatPinduoduocan one day become the largest grocer in the world,”Mr. Chencontinued.<blockquote>“席卷全球的一个这样的变化就是农业和杂货。拼多多从农产品起家，愿景是为消费者提供更省钱、更有趣的‘好市多+迪士尼’体验。我们现在是中国最大的农业平台，我们希望拼多多有一天能够成为世界上最大的杂货商，”先生陈继续说道。</blockquote>“Agriculture is a strategic priority for us, and we will continue to invest in technology and operations across the agricultural value chain to optimize food production, distribution and consumption,” added Mr.David Liu, Vice President of Strategy. “Reducing inefficiencies in the supply chain will lower structural costs and make groceries more affordable for everyone.”<blockquote>“农业是我们的战略重点，我们将继续投资于整个农业价值链的技术和运营，以优化食品生产、分销和消费，”战略副总裁David Liu先生补充道。“减少供应链中的低效率将降低结构性成本，并使每个人都能更实惠地购买食品杂货。”</blockquote>“We continued to deliver strong results in the fourth quarter and generate positive cash flow from operations,” said Mr.Tony Ma, Vice President of Finance. “Our total revenues for fiscal year 2020 increased 97% from the prior year, and excluding contribution from merchandise sales, our total revenues grew 78%.”<blockquote>“我们在第四季度继续取得强劲业绩，并从运营中产生正现金流，”财务副总裁Tony Ma先生表示。“我们2020财年的总收入比上一年增长了97%，排除商品销售的贡献，我们的总收入增长了78%。”</blockquote>Fourth Quarter 2020 Unaudited Financial Results<blockquote>2020年第四季度未经审计的财务业绩</blockquote>Total revenueswereRMB26,547.7 million(US$4,068.6 million), an increase of 146% fromRMB10,792.7 millionin the same quarter of 2019. The increase was primarily due to an increase in revenues from online marketing services and contribution from merchandise sales.<blockquote>总收入为265.477亿元人民币（40.686亿美元），较2019年同季度的107.927亿元人民币增长146%。该增加主要由于线上营销服务收入增加及商品销售贡献所致。</blockquote><ul><li>Revenues from online marketing services and others&nbsp;were&nbsp;RMB18,922.0 million(US$2,899.9 million), an increase of 95% fromRMB9,686.7 millionin the same quarter of 2019.</li><li>Revenues from transaction serviceswereRMB2,267.9 million(US$347.6 million), an increase of 105% fromRMB1,106.0 millionin the same quarter of 2019.</li><li>Revenues from merchandise saleswereRMB5,357.8 million(US$821.1 million), an increase ofRMB5,357.8 millionfrom nil in the same quarter of 2019.</li></ul>Total costs of revenueswereRMB11,526.1 million(US$1,766.5 million), an increase of 466% fromRMB2,037.4 millionin the same quarter of 2019. The increase was mainly due to costs and expenses attributable to merchandise sales, higher cost of payment processing fees, cloud services fees, merchant support services, and delivery and storage fees.<blockquote><ul><li>线上营销服务及其他收入为人民币189.22亿元（28.999亿美元），较2019年同季度的人民币96.867亿元增长95%。</li><li>交易服务收入为人民币22.679亿元（3.476亿美元），较2019年同季度的人民币11.060亿元增长105%。</li><li>商品销售收入为人民币53.578亿元（8.211亿美元），较2019年同季度的零增加人民币53.578亿元。</li></ul>收入总成本为115.261亿元人民币（17.665亿美元），较2019年同季度的20.374亿元人民币增长466%。该增加主要是由于商品销售应佔成本及开支、支付处理费、云服务费、商户支援服务以及送货及仓储费成本增加所致。</blockquote>Total operating expenseswereRMB17,069.4 million(US$2,616.0 million), compared withRMB10,890.6 millionin the same quarter of 2019.<blockquote>营业费用总额为人民币170.694亿元（26.16亿美元），而2019年同季度为人民币108.906亿元。</blockquote><ul><li>Sales and marketing expenseswereRMB14,712.5 million(US$2,254.8 million), an increase of 59% fromRMB9,272.5 millionin the same quarter of 2019, mainly due to an increase in advertising expenses and promotion and coupon expenses.</li><li>General and administrative expenseswereRMB405.6 million(US$62.2 million), an increase of 17% fromRMB345.7 millionin the same quarter of 2019, primarily due to an increase in professional and outsourcing services.</li><li>Research and development expenseswereRMB1,951.3 million(US$299.0 million), an increase of 53% fromRMB1,272.4 millionin the same quarter of 2019. The increase was primarily due to an increase in headcount and the recruitment of more experienced R&amp;D personnel and an increase in R&amp;D-related cloud services expenses.</li></ul>Operating losswasRMB2,047.8 million(US$313.8 million), compared with operating loss ofRMB2,135.3 millionin the same quarter of 2019.Non-GAAP operating loss6wasRMB1,114.5 million(US$170.8 million), compared with operating loss ofRMB1,336.6 millionin the same quarter of 2019.<blockquote><ul><li>销售及市场推广开支为人民币147.125亿元（22.548亿美元），较2019年同季度的人民币92.725亿元增长59%，主要是由于广告费用以及促销和优惠券费用增加。</li><li>一般及行政开支为人民币4.056亿元（6220万美元），较2019年同季度的人民币3.457亿元增长17%，主要是由于专业和外包服务的增加。</li><li>研发费用为人民币19.513亿元（2.99亿美元），较2019年同季度的人民币12.724亿元增长53%。该增加主要由于员工人数增加及招聘更有经验的研发人员以及研发相关云服务开支增加所致。</li></ul>经营亏损为人民币20.478亿元（3.138亿美元），而2019年同季度营业亏损为人民币21.353亿元。非公认会计准则经营亏损6为人民币11.145亿元（1.708亿美元），而2019年同季度的运营亏损为人民币13.366亿元。</blockquote>Net loss attributable to ordinary shareholderswasRMB1,376.4 million(US$210.9 million), compared withRMB1,751.6 millionin the same quarter of 2019.Non-GAAP net loss attributable to ordinary shareholderswasRMB184.5 million(US$28.3 million), compared withRMB815.0 millionin the same quarter of 2019.<blockquote>归属于普通股股东的净亏损为人民币13.764亿元（2.109亿美元），而2019年同季度为人民币17.516亿元。非公认会计准则归属于普通股股东的净亏损为人民币1.845亿元（2830万美元），而2019年同季度为人民币8.15亿元。</blockquote>Basic and diluted net loss per ADSwereRMB1.13(US$0.17), compared withRMB1.52in the same quarter of 2019.Non-GAAP basic and diluted net loss per ADSwereRMB0.15(US$0.02), compared withRMB0.72in the same quarter of 2019.<blockquote>每股美国存托股基本和摊薄净亏损为人民币1.13元（0.17美元），而2019年同季度为人民币1.52元。非GAAP每股美国存托凭证基本和摊薄净亏损为人民币0.15元（0.02美元），而2019年同季度为人民币0.72元。</blockquote>Net cash flow from operating activitieswasRMB14,946.6 million(US$2,290.7 million), compared withRMB9,598.0 millionin the same quarter of 2019, primarily due to an increase in online marketing services revenues.<blockquote>经营活动产生的现金流量净额为人民币149.466亿元（22.907亿美元），而2019年同季度为人民币95.98亿元，主要是由于在线营销服务收入增加。</blockquote>Cash, cash equivalents and short-term investmentswereRMB87.0 billion(US$13.3 billion) as ofDecember 31, 2020, compared withRMB41.1 billionas ofDecember 31, 2019.<blockquote>现金、现金等价物及短期投资截至2020年12月31日为870亿元人民币（133亿美元），而截至2019年12月31日为411亿元人民币。</blockquote>Fiscal Year 2020 Financial Results<blockquote>2020财年财务业绩</blockquote>Total revenueswereRMB59,491.9 million(US$9,117.5 million), representing an increase of 97% fromRMB30,141.9 millionin 2019. The increase was primarily due to an increase in revenues from online marketing services and contribution from merchandise sales.<blockquote>总收入为人民币59,491.9百万元（9,117.5百万美元），较2019年的人民币30,141.9百万元增长97%。该增加主要由于线上营销服务收入增加及商品销售贡献所致。</blockquote><ul><li>Revenues from online marketing services and otherswereRMB47,953.8 million(US$7,349.2 million), representing an increase of 79% fromRMB26,813.6 millionin 2019.</li><li>Revenues from transaction serviceswereRMB5,787.4 million(US$887.0 million), representing an increase of 74% fromRMB3,328.2 millionin 2019.</li><li>Revenues from merchandise saleswereRMB5,750.7 million(US$881.3 million), an increase ofRMB5,750.7 millionfrom nil in 2019.</li></ul>Total costs of revenueswereRMB19,278.6 million(US$2,954.6 million), representing an increase of 204% fromRMB6,338.8 millionin 2019. The increase was mainly due to costs and expenses attributable to merchandise sales, higher cost of payment processing fees, cloud services fees, merchant support services, and delivery and storage fees.<blockquote><ul><li>线上营销服务及其他收入为人民币47,953.8百万元（7,349.2百万美元），较2019年的人民币26,813.6百万元增长79%。</li><li>交易服务收入为人民币5,787.4百万元（887.0百万美元），较2019年的人民币3,328.2百万元增长74%。</li><li>商品销售收入为人民币57.507亿元（8.813亿美元），较2019年的零增加人民币57.507亿元。</li></ul>收入总成本为人民币19,278.6百万元（2,954.6百万美元），较2019年的人民币6,338.8百万元增长204%。该增加主要是由于商品销售应佔成本及开支、支付处理费、云服务费、商户支援服务以及送货及仓储费成本增加所致。</blockquote>Total operating expenseswereRMB49,593.5 million(US$7,600.5 million), compared withRMB32,341.3 millionin 2019.<blockquote>营业费用总额为人民币495.935亿元（76.005亿美元），而2019年为人民币323.413亿元。</blockquote><ul><li>Sales and marketing expenseswereRMB41,194.6 million(US$6,313.3 million), an increase of 52% fromRMB27,174.2 millionin 2019, mainly due to an increase in advertising expenses and promotion and coupon expenses.</li><li>General and administrative expenseswereRMB1,507.3 million(US$231.0 million), an increase of 16% fromRMB1,296.7 millionin 2019, primarily due to an increase in headcount.</li><li>Research and development expenseswereRMB6,891.7 million(US$1,056.2 million), an increase of 78% fromRMB3,870.4 millionin 2019. The increase was primarily due to an increase in headcount and the recruitment of more experienced R&amp;D personnel and an increase in R&amp;D-related cloud services expenses.</li></ul>Operating losswasRMB9,380.3 million(US$1,437.6 million), compared with operating loss ofRMB8,538.2 millionin 2019.Non-GAAP operating losswasRMB5,767.3 million(US$883.9 million), compared withRMB5,980.5 millionin 2019.<blockquote><ul><li>销售及市场推广开支为人民币41,194.6百万元（6,313.3百万美元），较2019年的人民币27,174.2百万元增长52%，主要是由于广告费用以及促销和优惠券费用增加。</li><li>一般及行政开支为人民币1,507.3百万元（231.0百万美元），较2019年的人民币1,296.7百万元增长16%，主要由于员工人数增加。</li><li>研发费用为人民币6,891.7百万元（1,056.2百万美元），较2019年的人民币3,870.4百万元增长78%。该增加主要由于员工人数增加及招聘更有经验的研发人员以及研发相关云服务开支增加所致。</li></ul>经营亏损为人民币93.803亿元（14.376亿美元），而2019年经营亏损为人民币85.382亿元。非公认会计准则营业亏损为人民币57.673亿元（8.839亿美元），而2019年为人民币59.805亿元。</blockquote>Net loss attributable to ordinary shareholderswasRMB7,179.7 million(US$1,100.3 million), compared withRMB6,967.6 millionin 2019.Non-GAAP net loss attributable to ordinary shareholderswasRMB2,965.0 million(US$454.4 million), compared withRMB4,265.8 millionin 2019.<blockquote>归属于普通股股东的净亏损为人民币71.797亿元（11.003亿美元），而2019年为人民币69.676亿元。非公认会计准则归属于普通股股东的净亏损为人民币29.65亿元（4.544亿美元），而2019年为人民币42.658亿元。</blockquote>Basic and diluted net loss per ADSwereRMB6.02(US$0.92), compared withRMB6.04in 2019. Non-GAAP basic and diluted net loss per ADS wereRMB2.49(US$0.38), compared withRMB3.68in 2019.<blockquote>每股美国存托股基本和摊薄净亏损为人民币6.02元（0.92美元），而2019年为人民币6.04元。非公认会计准则每股美国存托凭证基本和摊薄净亏损为人民币2.49元（0.38美元），而2019年为人民币3.68元。</blockquote>Net cash provided by operating activitieswasRMB28,196.6 million(US$4,321.3 million), compared withRMB14,821.0 millionin 2019, primarily due to an increase in online marketing services revenues.<blockquote>经营活动提供的现金净额为人民币28,196.6百万元（4,321.3百万美元），而2019年为人民币14,821.0百万元，主要是由于在线营销服务收入增加。</blockquote>Recent Development<blockquote>近期发展</blockquote>As of&nbsp;February 28, 2021,US$711.9 millionof the 0% convertible bond due in 2024 have been converted into newly issued ADSs.<blockquote>截至2021年2月28日，2024年到期的0%可转换债券中有7.11.9百万美元已转换为新发行的美国存讬股。</blockquote>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Pinduoduo drops more than 8%<blockquote>拼多多跌超8%</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPinduoduo drops more than 8%<blockquote>拼多多跌超8%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\nTiger Newspress \n2021-03-17 22:15\n</div>\n</a>\n</h4>\n</header>\n<article>\n(March 17)&nbsp;Pinduoduo drops more than 8%.<img src=\"https://static.tigerbbs.com/fcf2dac380ffeb19c76c6409e91133a7\" tg-width=\"685\" tg-height=\"496\" referrerpolicy=\"no-referrer\"><blockquote>（3月17日）拼多多跌逾8%。</blockquote><ul><li>Pinduoduo Q4 Non-GAAP EPS of -$0.02beats by $0.01; GAAP EPS of -$0.17misses by $0.01.</li><li>Revenue of $4.07B (+162.6% Y/Y)beats by $1.2B.</li><li>Average monthly active users were 719.9M, an increase of 50% from 481.5M in Q4 2019.</li><li>GMV in the TTM ended Dec. 31, 2020 was RMB1,667.6B ($255.6B), +66% from RMB1006.6B in year ended Dec. 31, 2019.</li></ul>Fourth Quarter 2020 Highlights<blockquote><ul><li>拼多多第四季度非GAAP每股收益为-0.02美元超过预期0.01美元；GAAP每股收益为-0.17美元，低于预期为0.01美元。</li><li>收入为$4.07 B（同比+162.6%）超过预期$1.2 B。</li><li>平均月活跃用户为7.199亿，较2019年第四季度的4.815亿增长50%。</li><li>截至2020年12月31日，TTM的GMV为人民币1,667.6 B（$255.6 B），较截至2019年12月31日的年度人民币1006.6 B增长66%。</li></ul>2020年第四季度亮点</blockquote><ul><li>GMV1&nbsp;in the twelve-month period endedDecember 31, 2020wasRMB1,667.6 billion(US$2255.6 billion), an increase of 66% fromRMB1,006.6 billionin the twelve-month period endedDecember 31, 2019.</li><li>Total revenues&nbsp;in the quarter wereRMB26,547.7 million(US$4,068.6 million), an increase of 146% fromRMB10,792.7 millionin the same quarter of 2019.</li><li>Average monthly active users3&nbsp;in the quarter were 719.9 million, an increase of 50% from 481.5 million in the same quarter of 2019.</li><li>Active buyers4&nbsp;in the twelve-month period endedDecember 31, 2020were 788.4 million, an increase of 35% from 585.2 million in the twelve-month period endedDecember 31, 2019.</li><li>Annual spending per active buyer5&nbsp;in the twelve-month period endedDecember 31, 2020wasRMB 2,115.2(US$324.2), an increase of 23% fromRMB 1,720.1in the twelve-month period endedDecember 31, 2019.</li></ul>“We saw six years ago that mobile is the only way to go. Therefore, we are the only major consumer internet company in the world that is mobile only. The mobile internet fundamentally transforms the way humans interact with each other,” said Mr.Lei Chen, Chairman and Chief Executive Officer ofPinduoduo.<blockquote><ul><li>GMV1截至2020年12月31日止十二个月期间为人民币16,676亿元（22,556亿美元），较截至2019年12月31日止十二个月期间的人民币100,066亿元增长66%。</li><li>总收入本季度营收为265.477亿元人民币（40.686亿美元），较2019年同季度的107.927亿元人民币增长146%。</li><li>平均每月活跃用户数3本季度为7.199亿，较2019年同季度的4.815亿增长50%。</li><li>活跃买家4截至2020年12月31日止12个月期间为7.884亿，较截至2019年12月31日止12个月期间的5.852亿增长35%。</li><li>每位活跃买家的年度支出5截至2020年12月31日止十二个月期间为人民币2,115.2元（324.2美元），较截至2019年12月31日止十二个月期间的人民币1,720.1元增长23%。</li></ul>拼多多董事长兼首席执行官陈磊表示：“六年前，我们就看到移动是唯一的出路。因此，我们是世界上唯一一家只面向移动的大型消费互联网公司。移动互联网从根本上改变了人类的互动方式。”</blockquote>“This revolution is tearing down the walls between the physical and digital worlds. Being a mobile-only product in this new age, we are well-placed to benefit from the opportunities thrown up by each behavioral change.”<blockquote>“这场革命正在拆除物理世界和数字世界之间的围墙。作为这个新时代的纯移动产品，我们处于有利地位，可以从每一次行为变化带来的机遇中受益。”</blockquote>“One such change sweeping the world is agriculture and grocery.Pinduoduostarted with agricultural products, with the vision of offering consumers the ‘Costco + Disney’ experience of more savings and more fun. We are now the largest agriculture platform inChinaand we hope thatPinduoduocan one day become the largest grocer in the world,”Mr. Chencontinued.<blockquote>“席卷全球的一个这样的变化就是农业和杂货。拼多多从农产品起家，愿景是为消费者提供更省钱、更有趣的‘好市多+迪士尼’体验。我们现在是中国最大的农业平台，我们希望拼多多有一天能够成为世界上最大的杂货商，”先生陈继续说道。</blockquote>“Agriculture is a strategic priority for us, and we will continue to invest in technology and operations across the agricultural value chain to optimize food production, distribution and consumption,” added Mr.David Liu, Vice President of Strategy. “Reducing inefficiencies in the supply chain will lower structural costs and make groceries more affordable for everyone.”<blockquote>“农业是我们的战略重点，我们将继续投资于整个农业价值链的技术和运营，以优化食品生产、分销和消费，”战略副总裁David Liu先生补充道。“减少供应链中的低效率将降低结构性成本，并使每个人都能更实惠地购买食品杂货。”</blockquote>“We continued to deliver strong results in the fourth quarter and generate positive cash flow from operations,” said Mr.Tony Ma, Vice President of Finance. “Our total revenues for fiscal year 2020 increased 97% from the prior year, and excluding contribution from merchandise sales, our total revenues grew 78%.”<blockquote>“我们在第四季度继续取得强劲业绩，并从运营中产生正现金流，”财务副总裁Tony Ma先生表示。“我们2020财年的总收入比上一年增长了97%，排除商品销售的贡献，我们的总收入增长了78%。”</blockquote>Fourth Quarter 2020 Unaudited Financial Results<blockquote>2020年第四季度未经审计的财务业绩</blockquote>Total revenueswereRMB26,547.7 million(US$4,068.6 million), an increase of 146% fromRMB10,792.7 millionin the same quarter of 2019. The increase was primarily due to an increase in revenues from online marketing services and contribution from merchandise sales.<blockquote>总收入为265.477亿元人民币（40.686亿美元），较2019年同季度的107.927亿元人民币增长146%。该增加主要由于线上营销服务收入增加及商品销售贡献所致。</blockquote><ul><li>Revenues from online marketing services and others&nbsp;were&nbsp;RMB18,922.0 million(US$2,899.9 million), an increase of 95% fromRMB9,686.7 millionin the same quarter of 2019.</li><li>Revenues from transaction serviceswereRMB2,267.9 million(US$347.6 million), an increase of 105% fromRMB1,106.0 millionin the same quarter of 2019.</li><li>Revenues from merchandise saleswereRMB5,357.8 million(US$821.1 million), an increase ofRMB5,357.8 millionfrom nil in the same quarter of 2019.</li></ul>Total costs of revenueswereRMB11,526.1 million(US$1,766.5 million), an increase of 466% fromRMB2,037.4 millionin the same quarter of 2019. The increase was mainly due to costs and expenses attributable to merchandise sales, higher cost of payment processing fees, cloud services fees, merchant support services, and delivery and storage fees.<blockquote><ul><li>线上营销服务及其他收入为人民币189.22亿元（28.999亿美元），较2019年同季度的人民币96.867亿元增长95%。</li><li>交易服务收入为人民币22.679亿元（3.476亿美元），较2019年同季度的人民币11.060亿元增长105%。</li><li>商品销售收入为人民币53.578亿元（8.211亿美元），较2019年同季度的零增加人民币53.578亿元。</li></ul>收入总成本为115.261亿元人民币（17.665亿美元），较2019年同季度的20.374亿元人民币增长466%。该增加主要是由于商品销售应佔成本及开支、支付处理费、云服务费、商户支援服务以及送货及仓储费成本增加所致。</blockquote>Total operating expenseswereRMB17,069.4 million(US$2,616.0 million), compared withRMB10,890.6 millionin the same quarter of 2019.<blockquote>营业费用总额为人民币170.694亿元（26.16亿美元），而2019年同季度为人民币108.906亿元。</blockquote><ul><li>Sales and marketing expenseswereRMB14,712.5 million(US$2,254.8 million), an increase of 59% fromRMB9,272.5 millionin the same quarter of 2019, mainly due to an increase in advertising expenses and promotion and coupon expenses.</li><li>General and administrative expenseswereRMB405.6 million(US$62.2 million), an increase of 17% fromRMB345.7 millionin the same quarter of 2019, primarily due to an increase in professional and outsourcing services.</li><li>Research and development expenseswereRMB1,951.3 million(US$299.0 million), an increase of 53% fromRMB1,272.4 millionin the same quarter of 2019. The increase was primarily due to an increase in headcount and the recruitment of more experienced R&amp;D personnel and an increase in R&amp;D-related cloud services expenses.</li></ul>Operating losswasRMB2,047.8 million(US$313.8 million), compared with operating loss ofRMB2,135.3 millionin the same quarter of 2019.Non-GAAP operating loss6wasRMB1,114.5 million(US$170.8 million), compared with operating loss ofRMB1,336.6 millionin the same quarter of 2019.<blockquote><ul><li>销售及市场推广开支为人民币147.125亿元（22.548亿美元），较2019年同季度的人民币92.725亿元增长59%，主要是由于广告费用以及促销和优惠券费用增加。</li><li>一般及行政开支为人民币4.056亿元（6220万美元），较2019年同季度的人民币3.457亿元增长17%，主要是由于专业和外包服务的增加。</li><li>研发费用为人民币19.513亿元（2.99亿美元），较2019年同季度的人民币12.724亿元增长53%。该增加主要由于员工人数增加及招聘更有经验的研发人员以及研发相关云服务开支增加所致。</li></ul>经营亏损为人民币20.478亿元（3.138亿美元），而2019年同季度营业亏损为人民币21.353亿元。非公认会计准则经营亏损6为人民币11.145亿元（1.708亿美元），而2019年同季度的运营亏损为人民币13.366亿元。</blockquote>Net loss attributable to ordinary shareholderswasRMB1,376.4 million(US$210.9 million), compared withRMB1,751.6 millionin the same quarter of 2019.Non-GAAP net loss attributable to ordinary shareholderswasRMB184.5 million(US$28.3 million), compared withRMB815.0 millionin the same quarter of 2019.<blockquote>归属于普通股股东的净亏损为人民币13.764亿元（2.109亿美元），而2019年同季度为人民币17.516亿元。非公认会计准则归属于普通股股东的净亏损为人民币1.845亿元（2830万美元），而2019年同季度为人民币8.15亿元。</blockquote>Basic and diluted net loss per ADSwereRMB1.13(US$0.17), compared withRMB1.52in the same quarter of 2019.Non-GAAP basic and diluted net loss per ADSwereRMB0.15(US$0.02), compared withRMB0.72in the same quarter of 2019.<blockquote>每股美国存托股基本和摊薄净亏损为人民币1.13元（0.17美元），而2019年同季度为人民币1.52元。非GAAP每股美国存托凭证基本和摊薄净亏损为人民币0.15元（0.02美元），而2019年同季度为人民币0.72元。</blockquote>Net cash flow from operating activitieswasRMB14,946.6 million(US$2,290.7 million), compared withRMB9,598.0 millionin the same quarter of 2019, primarily due to an increase in online marketing services revenues.<blockquote>经营活动产生的现金流量净额为人民币149.466亿元（22.907亿美元），而2019年同季度为人民币95.98亿元，主要是由于在线营销服务收入增加。</blockquote>Cash, cash equivalents and short-term investmentswereRMB87.0 billion(US$13.3 billion) as ofDecember 31, 2020, compared withRMB41.1 billionas ofDecember 31, 2019.<blockquote>现金、现金等价物及短期投资截至2020年12月31日为870亿元人民币（133亿美元），而截至2019年12月31日为411亿元人民币。</blockquote>Fiscal Year 2020 Financial Results<blockquote>2020财年财务业绩</blockquote>Total revenueswereRMB59,491.9 million(US$9,117.5 million), representing an increase of 97% fromRMB30,141.9 millionin 2019. The increase was primarily due to an increase in revenues from online marketing services and contribution from merchandise sales.<blockquote>总收入为人民币59,491.9百万元（9,117.5百万美元），较2019年的人民币30,141.9百万元增长97%。该增加主要由于线上营销服务收入增加及商品销售贡献所致。</blockquote><ul><li>Revenues from online marketing services and otherswereRMB47,953.8 million(US$7,349.2 million), representing an increase of 79% fromRMB26,813.6 millionin 2019.</li><li>Revenues from transaction serviceswereRMB5,787.4 million(US$887.0 million), representing an increase of 74% fromRMB3,328.2 millionin 2019.</li><li>Revenues from merchandise saleswereRMB5,750.7 million(US$881.3 million), an increase ofRMB5,750.7 millionfrom nil in 2019.</li></ul>Total costs of revenueswereRMB19,278.6 million(US$2,954.6 million), representing an increase of 204% fromRMB6,338.8 millionin 2019. The increase was mainly due to costs and expenses attributable to merchandise sales, higher cost of payment processing fees, cloud services fees, merchant support services, and delivery and storage fees.<blockquote><ul><li>线上营销服务及其他收入为人民币47,953.8百万元（7,349.2百万美元），较2019年的人民币26,813.6百万元增长79%。</li><li>交易服务收入为人民币5,787.4百万元（887.0百万美元），较2019年的人民币3,328.2百万元增长74%。</li><li>商品销售收入为人民币57.507亿元（8.813亿美元），较2019年的零增加人民币57.507亿元。</li></ul>收入总成本为人民币19,278.6百万元（2,954.6百万美元），较2019年的人民币6,338.8百万元增长204%。该增加主要是由于商品销售应佔成本及开支、支付处理费、云服务费、商户支援服务以及送货及仓储费成本增加所致。</blockquote>Total operating expenseswereRMB49,593.5 million(US$7,600.5 million), compared withRMB32,341.3 millionin 2019.<blockquote>营业费用总额为人民币495.935亿元（76.005亿美元），而2019年为人民币323.413亿元。</blockquote><ul><li>Sales and marketing expenseswereRMB41,194.6 million(US$6,313.3 million), an increase of 52% fromRMB27,174.2 millionin 2019, mainly due to an increase in advertising expenses and promotion and coupon expenses.</li><li>General and administrative expenseswereRMB1,507.3 million(US$231.0 million), an increase of 16% fromRMB1,296.7 millionin 2019, primarily due to an increase in headcount.</li><li>Research and development expenseswereRMB6,891.7 million(US$1,056.2 million), an increase of 78% fromRMB3,870.4 millionin 2019. The increase was primarily due to an increase in headcount and the recruitment of more experienced R&amp;D personnel and an increase in R&amp;D-related cloud services expenses.</li></ul>Operating losswasRMB9,380.3 million(US$1,437.6 million), compared with operating loss ofRMB8,538.2 millionin 2019.Non-GAAP operating losswasRMB5,767.3 million(US$883.9 million), compared withRMB5,980.5 millionin 2019.<blockquote><ul><li>销售及市场推广开支为人民币41,194.6百万元（6,313.3百万美元），较2019年的人民币27,174.2百万元增长52%，主要是由于广告费用以及促销和优惠券费用增加。</li><li>一般及行政开支为人民币1,507.3百万元（231.0百万美元），较2019年的人民币1,296.7百万元增长16%，主要由于员工人数增加。</li><li>研发费用为人民币6,891.7百万元（1,056.2百万美元），较2019年的人民币3,870.4百万元增长78%。该增加主要由于员工人数增加及招聘更有经验的研发人员以及研发相关云服务开支增加所致。</li></ul>经营亏损为人民币93.803亿元（14.376亿美元），而2019年经营亏损为人民币85.382亿元。非公认会计准则营业亏损为人民币57.673亿元（8.839亿美元），而2019年为人民币59.805亿元。</blockquote>Net loss attributable to ordinary shareholderswasRMB7,179.7 million(US$1,100.3 million), compared withRMB6,967.6 millionin 2019.Non-GAAP net loss attributable to ordinary shareholderswasRMB2,965.0 million(US$454.4 million), compared withRMB4,265.8 millionin 2019.<blockquote>归属于普通股股东的净亏损为人民币71.797亿元（11.003亿美元），而2019年为人民币69.676亿元。非公认会计准则归属于普通股股东的净亏损为人民币29.65亿元（4.544亿美元），而2019年为人民币42.658亿元。</blockquote>Basic and diluted net loss per ADSwereRMB6.02(US$0.92), compared withRMB6.04in 2019. Non-GAAP basic and diluted net loss per ADS wereRMB2.49(US$0.38), compared withRMB3.68in 2019.<blockquote>每股美国存托股基本和摊薄净亏损为人民币6.02元（0.92美元），而2019年为人民币6.04元。非公认会计准则每股美国存托凭证基本和摊薄净亏损为人民币2.49元（0.38美元），而2019年为人民币3.68元。</blockquote>Net cash provided by operating activitieswasRMB28,196.6 million(US$4,321.3 million), compared withRMB14,821.0 millionin 2019, primarily due to an increase in online marketing services revenues.<blockquote>经营活动提供的现金净额为人民币28,196.6百万元（4,321.3百万美元），而2019年为人民币14,821.0百万元，主要是由于在线营销服务收入增加。</blockquote>Recent Development<blockquote>近期发展</blockquote>As of&nbsp;February 28, 2021,US$711.9 millionof the 0% convertible bond due in 2024 have been converted into newly issued ADSs.<blockquote>截至2021年2月28日，2024年到期的0%可转换债券中有7.11.9百万美元已转换为新发行的美国存讬股。</blockquote>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PDD":"拼多多"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1194606272","content_text":"(March 17) Pinduoduo drops more than 8%.Pinduoduo Q4 Non-GAAP EPS of -$0.02beats by $0.01; GAAP EPS of -$0.17misses by $0.01.Revenue of $4.07B (+162.6% Y/Y)beats by $1.2B.Average monthly active users were 719.9M, an increase of 50% from 481.5M in Q4 2019.GMV in the TTM ended Dec. 31, 2020 was RMB1,667.6B ($255.6B), +66% from RMB1006.6B in year ended Dec. 31, 2019.Fourth Quarter 2020 HighlightsGMV1 in the twelve-month period endedDecember 31, 2020wasRMB1,667.6 billion(US$2255.6 billion), an increase of 66% fromRMB1,006.6 billionin the twelve-month period endedDecember 31, 2019.Total revenues in the quarter wereRMB26,547.7 million(US$4,068.6 million), an increase of 146% fromRMB10,792.7 millionin the same quarter of 2019.Average monthly active users3 in the quarter were 719.9 million, an increase of 50% from 481.5 million in the same quarter of 2019.Active buyers4 in the twelve-month period endedDecember 31, 2020were 788.4 million, an increase of 35% from 585.2 million in the twelve-month period endedDecember 31, 2019.Annual spending per active buyer5 in the twelve-month period endedDecember 31, 2020wasRMB 2,115.2(US$324.2), an increase of 23% fromRMB 1,720.1in the twelve-month period endedDecember 31, 2019.“We saw six years ago that mobile is the only way to go. Therefore, we are the only major consumer internet company in the world that is mobile only. The mobile internet fundamentally transforms the way humans interact with each other,” said Mr.Lei Chen, Chairman and Chief Executive Officer ofPinduoduo.“This revolution is tearing down the walls between the physical and digital worlds. Being a mobile-only product in this new age, we are well-placed to benefit from the opportunities thrown up by each behavioral change.”“One such change sweeping the world is agriculture and grocery.Pinduoduostarted with agricultural products, with the vision of offering consumers the ‘Costco + Disney’ experience of more savings and more fun. We are now the largest agriculture platform inChinaand we hope thatPinduoduocan one day become the largest grocer in the world,”Mr. Chencontinued.“Agriculture is a strategic priority for us, and we will continue to invest in technology and operations across the agricultural value chain to optimize food production, distribution and consumption,” added Mr.David Liu, Vice President of Strategy. “Reducing inefficiencies in the supply chain will lower structural costs and make groceries more affordable for everyone.”“We continued to deliver strong results in the fourth quarter and generate positive cash flow from operations,” said Mr.Tony Ma, Vice President of Finance. “Our total revenues for fiscal year 2020 increased 97% from the prior year, and excluding contribution from merchandise sales, our total revenues grew 78%.”Fourth Quarter 2020 Unaudited Financial ResultsTotal revenueswereRMB26,547.7 million(US$4,068.6 million), an increase of 146% fromRMB10,792.7 millionin the same quarter of 2019. The increase was primarily due to an increase in revenues from online marketing services and contribution from merchandise sales.Revenues from online marketing services and others were RMB18,922.0 million(US$2,899.9 million), an increase of 95% fromRMB9,686.7 millionin the same quarter of 2019.Revenues from transaction serviceswereRMB2,267.9 million(US$347.6 million), an increase of 105% fromRMB1,106.0 millionin the same quarter of 2019.Revenues from merchandise saleswereRMB5,357.8 million(US$821.1 million), an increase ofRMB5,357.8 millionfrom nil in the same quarter of 2019.Total costs of revenueswereRMB11,526.1 million(US$1,766.5 million), an increase of 466% fromRMB2,037.4 millionin the same quarter of 2019. The increase was mainly due to costs and expenses attributable to merchandise sales, higher cost of payment processing fees, cloud services fees, merchant support services, and delivery and storage fees.Total operating expenseswereRMB17,069.4 million(US$2,616.0 million), compared withRMB10,890.6 millionin the same quarter of 2019.Sales and marketing expenseswereRMB14,712.5 million(US$2,254.8 million), an increase of 59% fromRMB9,272.5 millionin the same quarter of 2019, mainly due to an increase in advertising expenses and promotion and coupon expenses.General and administrative expenseswereRMB405.6 million(US$62.2 million), an increase of 17% fromRMB345.7 millionin the same quarter of 2019, primarily due to an increase in professional and outsourcing services.Research and development expenseswereRMB1,951.3 million(US$299.0 million), an increase of 53% fromRMB1,272.4 millionin the same quarter of 2019. The increase was primarily due to an increase in headcount and the recruitment of more experienced R&D personnel and an increase in R&D-related cloud services expenses.Operating losswasRMB2,047.8 million(US$313.8 million), compared with operating loss ofRMB2,135.3 millionin the same quarter of 2019.Non-GAAP operating loss6wasRMB1,114.5 million(US$170.8 million), compared with operating loss ofRMB1,336.6 millionin the same quarter of 2019.Net loss attributable to ordinary shareholderswasRMB1,376.4 million(US$210.9 million), compared withRMB1,751.6 millionin the same quarter of 2019.Non-GAAP net loss attributable to ordinary shareholderswasRMB184.5 million(US$28.3 million), compared withRMB815.0 millionin the same quarter of 2019.Basic and diluted net loss per ADSwereRMB1.13(US$0.17), compared withRMB1.52in the same quarter of 2019.Non-GAAP basic and diluted net loss per ADSwereRMB0.15(US$0.02), compared withRMB0.72in the same quarter of 2019.Net cash flow from operating activitieswasRMB14,946.6 million(US$2,290.7 million), compared withRMB9,598.0 millionin the same quarter of 2019, primarily due to an increase in online marketing services revenues.Cash, cash equivalents and short-term investmentswereRMB87.0 billion(US$13.3 billion) as ofDecember 31, 2020, compared withRMB41.1 billionas ofDecember 31, 2019.Fiscal Year 2020 Financial ResultsTotal revenueswereRMB59,491.9 million(US$9,117.5 million), representing an increase of 97% fromRMB30,141.9 millionin 2019. The increase was primarily due to an increase in revenues from online marketing services and contribution from merchandise sales.Revenues from online marketing services and otherswereRMB47,953.8 million(US$7,349.2 million), representing an increase of 79% fromRMB26,813.6 millionin 2019.Revenues from transaction serviceswereRMB5,787.4 million(US$887.0 million), representing an increase of 74% fromRMB3,328.2 millionin 2019.Revenues from merchandise saleswereRMB5,750.7 million(US$881.3 million), an increase ofRMB5,750.7 millionfrom nil in 2019.Total costs of revenueswereRMB19,278.6 million(US$2,954.6 million), representing an increase of 204% fromRMB6,338.8 millionin 2019. The increase was mainly due to costs and expenses attributable to merchandise sales, higher cost of payment processing fees, cloud services fees, merchant support services, and delivery and storage fees.Total operating expenseswereRMB49,593.5 million(US$7,600.5 million), compared withRMB32,341.3 millionin 2019.Sales and marketing expenseswereRMB41,194.6 million(US$6,313.3 million), an increase of 52% fromRMB27,174.2 millionin 2019, mainly due to an increase in advertising expenses and promotion and coupon expenses.General and administrative expenseswereRMB1,507.3 million(US$231.0 million), an increase of 16% fromRMB1,296.7 millionin 2019, primarily due to an increase in headcount.Research and development expenseswereRMB6,891.7 million(US$1,056.2 million), an increase of 78% fromRMB3,870.4 millionin 2019. The increase was primarily due to an increase in headcount and the recruitment of more experienced R&D personnel and an increase in R&D-related cloud services expenses.Operating losswasRMB9,380.3 million(US$1,437.6 million), compared with operating loss ofRMB8,538.2 millionin 2019.Non-GAAP operating losswasRMB5,767.3 million(US$883.9 million), compared withRMB5,980.5 millionin 2019.Net loss attributable to ordinary shareholderswasRMB7,179.7 million(US$1,100.3 million), compared withRMB6,967.6 millionin 2019.Non-GAAP net loss attributable to ordinary shareholderswasRMB2,965.0 million(US$454.4 million), compared withRMB4,265.8 millionin 2019.Basic and diluted net loss per ADSwereRMB6.02(US$0.92), compared withRMB6.04in 2019. Non-GAAP basic and diluted net loss per ADS wereRMB2.49(US$0.38), compared withRMB3.68in 2019.Net cash provided by operating activitieswasRMB28,196.6 million(US$4,321.3 million), compared withRMB14,821.0 millionin 2019, primarily due to an increase in online marketing services revenues.Recent DevelopmentAs of February 28, 2021,US$711.9 millionof the 0% convertible bond due in 2024 have been converted into newly issued ADSs.","news_type":1,"symbols_score_info":{"PDD":0.9}},"isVote":1,"tweetType":1,"viewCount":1700,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/324650291"}