$拼多多(PDD)$_老虎社区_美港股上老虎

$拼多多(PDD)$5年前拼多多股价如日中天的时候，主流叙事是阿里京东如朽木迟早被拼多多干掉，事实已经验证了我们的判断：低价低质只能切入部分市场远到不了一统天下的程度。TEMU在全球攻城略地是5年前叙事的翻版而已

中概开始陆续公布业绩：上周腾讯、阿里巴巴已经发布最新业绩报，本周小米、快手、拼多多、美团等科网股巨头财报陆续发布。拼多多2025财年实现净利润138.23亿美元，同比减少11.52%；美团Q4经调整净亏损150.8亿元，营收同比增4.1%略超预期【大家对近期中概财报变现有何看法？你看好哪家公司表现？】

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