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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 SBC in Research and Development (RMB million) by Quarter

SBC in Research and Development (RMB million) (M)

QuarterlyAnnual

PDD SBC in Research and Development (RMB million): 297M in Q2 2026, down 45.0% from a year earlier.

Latest, Q2 2026
297
Period ended Jun 30, 2026
Change on a year earlier
-45.0%
540 in Q2 2025
History
37 quarters
Since Q2 2017
Sources
33
Documents cited below

Where the Q2 2026 figure comes from

“|| Research and development expenses | 540 | 297 | 44 | 1,096 | 725 | 107”

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

PeriodEndedSBC in Research and Development (RMB million) (M)Year on yearSource
Q2 2026Jun 30, 2026297-45.0%PDD Holdings Inc. Form 6-K (tm2623874d1_ex99-1.htm, filed 2026-08-25) ↗
Q1 2026Mar 31, 2026428-23.0%PDD Holdings Inc. Form 6-K (tm2615739d1_ex99-1.htm, filed 2026-05-28) ↗
Q4 2025Dec 31, 2025574-23.3%PDD Holdings Inc. Form 6-K (tm269789d1_ex99-1.htm, filed 2026-03-26) ↗
Q3 2025Sep 30, 2025587-6.1%PDD Holdings Inc. Form 6-K (tm2531580d1_ex99-1.htm, filed 2025-11-18) ↗
Q2 2025Jun 30, 2025540+7.5%PDD Holdings Inc. Form 6-K (tm2623874d1_ex99-1.htm, filed 2026-08-25) ↗
Q1 2025Mar 31, 2025556-12.7%PDD Holdings Inc. Form 6-K (tm2615739d1_ex99-1.htm, filed 2026-05-28) ↗
Q4 2024Dec 31, 2024748+50.4%PDD Holdings Inc. Form 6-K (tm269789d1_ex99-1.htm, filed 2026-03-26) ↗
Q3 2024Sep 30, 2024625-0.8%PDD Holdings Inc. Form 6-K (tm2531580d1_ex99-1.htm, filed 2025-11-18) ↗
Q2 2024Jun 30, 2024502-22.4%PDD Holdings Inc. Form 6-K (tm2524268d1_ex99-1.htm, filed 2025-08-25) ↗
Q1 2024Mar 31, 2024637+20.4%PDD Holdings Inc. Form 6-K (tm2516198d1_ex99-1.htm, filed 2025-05-27) ↗
Q4 2023Dec 31, 2023497-24.6%PDD Holdings Inc. Form 6-K (tm259886d1_ex99-1.htm, filed 2025-03-20) ↗
Q3 2023Sep 30, 2023629+10.4%PDD Holdings Inc. Form 6-K (tm2429127d1_ex99-1.htm, filed 2024-11-21) ↗
Q2 2023Jun 30, 2023647-2.4%PDD Holdings Inc. Form 6-K (tm2422641d1_ex99-1.htm, filed 2024-08-26) ↗
Q1 2023Mar 31, 2023529-15.9%PDD Holdings Inc. Form 6-K (tm2415048d1_ex99-1.htm, filed 2024-05-22) ↗
Q4 2022Dec 31, 2022659-8.2%PDD Holdings Inc. Form 6-K (tm249325d1_ex99-1.htm, filed 2024-03-21) ↗
Q3 2022Sep 30, 2022570-0.1%PDD Holdings Inc. Form 6-K (tm2331648d1_ex99-1.htm, filed 2023-11-28) ↗

Cite this data

StockData. (2026). PDD SBC in Research and Development (RMB million) (M), quarterly Q2 2017–Q2 2026 [Data set]. Compiled from PDD SEC filings and investor materials. https://stockdatahq.com/stocks/pdd/kpis/sec-sbc-rnd-rmb-m-285

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