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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 8.2Yield –

PDD 2. Research and Development Expenses by Quarter

2. Research and Development Expenses (RMB million) (M)

QuarterlyAnnual

PDD 2. Research and Development Expenses: -4,567M in Q2 2026, up 27.2% from a year earlier.

Latest, Q2 2026
-4,567
Period ended Jun 30, 2026
Change on a year earlier
+27.2%
-3,591 in Q2 2025
History
37 quarters
Since Q2 2017
Sources
31
Documents cited below

Where the Q2 2026 figure comes from

“|| Research and development expenses | (3,591 | ) | (4,567 | ) | (673 | ) | (7,169 | ) | (8,985 | ) | (1,324 | )”

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

Quarterly history

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

PeriodEnded2. Research and Development Expenses (RMB million) (M)Year on yearSource
Q2 2026Jun 30, 2026-4,567+27.2%PDD Holdings Inc. Form 6-K (tm2623874d1_ex99-1.htm, filed 2026-08-25) ↗
Q1 2026Mar 31, 2026-4,418+23.5%PDD Holdings Inc. Form 6-K (tm2615739d1_ex99-1.htm, filed 2026-05-28) ↗
Q4 2025Dec 31, 2025-4,995+32.2%PDD Holdings Inc. Form 6-K (tm269789d1_ex99-1.htm, filed 2026-03-26) ↗
Q3 2025Sep 30, 2025-4,332+41.4%PDD Holdings Inc. Form 6-K (tm2531580d1_ex99-1.htm, filed 2025-11-18) ↗
Q2 2025Jun 30, 2025-3,591+23.4%PDD Holdings Inc. Form 6-K (tm2623874d1_ex99-1.htm, filed 2026-08-25) ↗
Q1 2025Mar 31, 2025-3,578+23.0%PDD Holdings Inc. Form 6-K (tm2615739d1_ex99-1.htm, filed 2026-05-28) ↗
Q4 2024Dec 31, 2024-3,777+31.9%PDD Holdings Inc. Form 6-K (tm269789d1_ex99-1.htm, filed 2026-03-26) ↗
Q3 2024Sep 30, 2024-3,063+7.6%PDD Holdings Inc. Form 6-K (tm2531580d1_ex99-1.htm, filed 2025-11-18) ↗
Q2 2024Jun 30, 2024-2,909+6.4%PDD Holdings Inc. Form 6-K (tm2524268d1_ex99-1.htm, filed 2025-08-25) ↗
Q1 2024Mar 31, 2024-2,910+16.1%PDD Holdings Inc. Form 6-K (tm2516198d1_ex99-1.htm, filed 2025-05-27) ↗
Q4 2023Dec 31, 2023-2,864+19.0%PDD Holdings Inc. Form 6-K (tm259886d1_ex99-1.htm, filed 2025-03-20) ↗
Q3 2023Sep 30, 2023-2,847+5.5%PDD Holdings Inc. Form 6-K (tm2429127d1_ex99-1.htm, filed 2024-11-21) ↗
Q2 2023Jun 30, 2023-2,734+4.7%PDD Holdings Inc. Form 6-K (tm2422641d1_ex99-1.htm, filed 2024-08-26) ↗
Q1 2023Mar 31, 2023-2,507-6.1%PDD Holdings Inc. Form 6-K (tm2415048d1_ex99-1.htm, filed 2024-05-22) ↗
Q4 2022Dec 31, 2022-2,407+19.0%PDD Holdings Inc. Form 6-K (tm249325d1_ex99-1.htm, filed 2024-03-21) ↗
Q3 2022Sep 30, 2022-2,698+11.4%PDD Holdings Inc. Form 6-K (tm2331648d1_ex99-1.htm, filed 2023-11-28) ↗

Breakdown

What makes up 2. Research and Development Expenses

Cite this data

StockData. (2026). PDD 2. Research and Development Expenses (M), quarterly Q2 2017–Q2 2026 [Data set]. Compiled from PDD SEC filings and investor materials. https://stockdatahq.com/stocks/pdd/kpis/sec-is-rnd-rmb-m-236

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