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PDD Holdings Inc.

PDDNasdaqServices-Business Services, NECFiscal year ends December 31
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Apr 29, 2026Score 11/30
$81.68+3.07 (+3.91%)

Close on Nov 2, 2026Market cap $116.26BP/E 8.3Yield –

PDD Customer Advances and Deferred Revenues by Year

Customer Advances and Deferred Revenues (RMB million) (M)

QuarterlyAnnual

PDD Customer Advances and Deferred Revenues: 3,379M in FY2025, up 14.7% from a year earlier. That is the highest of the 9 years on record here.

Latest, FY2025
3,379
Period ended Dec 31, 2025
Change on a year earlier
+14.7%
2,947 in FY2024
History
9 years
Since FY2017
Sources
9
Documents cited below

Where the FY2025 figure comes from

“|| Customer advances and deferred revenues | 3,379 | 3,641 | 537”

Source: PDD Holdings Inc. Form 6-K (tm2623874d1_ex99-1.htm, filed 2026-08-25) ↗

Primarily prepaid balances deposited by merchants into online advertising bidding accounts on the Pinduoduo platform.

Annual history

Hover a value to see the sentence it was read from; calculated values show their formula

PeriodEndedCustomer Advances and Deferred Revenues (RMB million) (M)Year on yearSource
FY2025Dec 31, 20253,379+14.7%PDD Holdings Inc. Form 6-K (tm2623874d1_ex99-1.htm, filed 2026-08-25) ↗
FY2024Dec 31, 20242,947+37.4%PDD Holdings Inc. Form 6-K (tm269789d1_ex99-1.htm, filed 2026-03-26) ↗
FY2023Dec 31, 20232,145+54.3%PDD Holdings Inc. Form 6-K (tm259886d1_ex99-1.htm, filed 2025-03-20) ↗
FY2022Dec 31, 20221,390+19.1%PDD Holdings Inc. Form 6-K (tm249325d1_ex99-1.htm, filed 2024-03-21) ↗
FY2021Dec 31, 20211,167-51.8%PDD Holdings Inc. Form 6-K (tm2310024d1_ex99-1.htm, filed 2023-03-22) ↗
FY2020Dec 31, 20202,423+299.9%PDD Holdings Inc. Form 6-K (tm229947d1_ex99-1.htm, filed 2022-03-22) ↗
FY2019Dec 31, 2019606+216.4%PDD Holdings Inc. Form 6-K (a21-10044_1ex99d1.htm, filed 2021-03-18) ↗
FY2018Dec 31, 2018192+238.9%PDD Holdings Inc. Form 6-K (a19-23587_1ex99d1.htm, filed 2019-11-21) ↗
FY2017Dec 31, 201756.5–PDD Holdings Inc. Form 6-K (a19-6538_1ex99d1.htm, filed 2019-03-15) ↗

Breakdown

What makes up customer Advances and Deferred Revenues

Cite this data

StockData. (2026). PDD Customer Advances and Deferred Revenues (M), annual FY2017–FY2025 [Data set]. Compiled from PDD SEC filings and investor materials. https://stockdatahq.com/stocks/pdd/kpis/sec-bs-customer-advances-deferred-rev-rmb-m-19

See every metric in the PDD KPI table. Data updated Oct 27, 2026.