PDD Holdings Inc.
PDDNasdaqServices-Business Services, NECFiscal year ends December 31
$81.68+3.07 (+3.91%)
Close on Nov 2, 2026Market cap $116.26BP/E 8.2Yield –
PDD Research and Development Expenses (US$ million) by Year
Research and Development Expenses (US$ million) ($M)
PDD Research and Development Expenses (US$ million): -$2,359M in FY2025, up 36.0% from a year earlier. That is the lowest of the 8 years on record here.
Latest, FY2025
-2,359
Period ended Dec 31, 2025
Change on a year earlier
+36.0%
-1,734 in FY2024
History
8 years
Since FY2018
Sources
8
Documents cited below
Where the FY2025 figure comes from
“|| Research and development expenses | (3,777,178 | ) | (4,994,884 | ) | (714,259 | ) | (12,659,361 | ) | (16,496,164 | ) | (2,358,920 | )”
Source: PDD Holdings Inc. Form 6-K (tm269789d1_ex99-1.htm, filed 2026-03-26) ↗
Annual history
Hover a value to see the sentence it was read from; calculated values show their formula
| Period | Ended | Research and Development Expenses (US$ million) ($M) | Year on year | Source |
|---|---|---|---|---|
| FY2025 | Dec 31, 2025 | -2,359 | +36.0% | PDD Holdings Inc. Form 6-K (tm269789d1_ex99-1.htm, filed 2026-03-26) ↗ |
| FY2024 | Dec 31, 2024 | -1,734 | +12.4% | PDD Holdings Inc. Form 6-K (tm259886d1_ex99-1.htm, filed 2025-03-20) ↗ |
| FY2023 | Dec 31, 2023 | -1,543 | +2.5% | PDD Holdings Inc. Form 6-K (tm249325d1_ex99-1.htm, filed 2024-03-21) ↗ |
| FY2022 | Dec 31, 2022 | -1,506 | +6.7% | PDD Holdings Inc. Form 6-K (tm2310024d1_ex99-1.htm, filed 2023-03-22) ↗ |
| FY2021 | Dec 31, 2021 | -1,411 | +33.6% | PDD Holdings Inc. Form 6-K (tm229947d1_ex99-1.htm, filed 2022-03-22) ↗ |
| FY2020 | Dec 31, 2020 | -1,056 | +90.0% | PDD Holdings Inc. Form 6-K (a21-10044_1ex99d1.htm, filed 2021-03-18) ↗ |
| FY2019 | Dec 31, 2019 | -556 | +242.5% | PDD Holdings Inc. Form 6-K (a20-12514_1ex99d1.htm, filed 2020-03-12) ↗ |
| FY2018 | Dec 31, 2018 | -162 | – | PDD Holdings Inc. Form 6-K (a19-6538_1ex99d1.htm, filed 2019-03-15) ↗ |
Cite this data
StockData. (2026). PDD Research and Development Expenses (US$ million) ($M), annual FY2018–FY2025 [Data set]. Compiled from PDD SEC filings and investor materials. https://stockdatahq.com/stocks/pdd/kpis/sec-is-rnd-usd-m-235
See every metric in the PDD KPI table. Data updated Oct 27, 2026.