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 8.3Yield –
PDD SBC in Research and Development (RMB million) by Year
SBC in Research and Development (RMB million) (M)
PDD SBC in Research and Development (RMB million): 2,257M in FY2025, down 10.1% from a year earlier.
Latest, FY2025
2,257
Period ended Dec 31, 2025
Change on a year earlier
-10.1%
2,511 in FY2024
History
9 years
Since FY2017
Sources
8
Documents cited below
Where the FY2025 figure comes from
“|| Research and development expenses | 747,693 | 573,844 | 82,059 | 2,511,235 | 2,257,068 | 322,756”
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 | SBC in Research and Development (RMB million) (M) | Year on year | Source |
|---|---|---|---|---|
| FY2025 | Dec 31, 2025 | 2,257 | -10.1% | PDD Holdings Inc. Form 6-K (tm269789d1_ex99-1.htm, filed 2026-03-26) ↗ |
| FY2024 | Dec 31, 2024 | 2,511 | +9.0% | PDD Holdings Inc. Form 6-K (tm269789d1_ex99-1.htm, filed 2026-03-26) ↗ |
| FY2023 | Dec 31, 2023 | 2,303 | -8.7% | PDD Holdings Inc. Form 6-K (tm259886d1_ex99-1.htm, filed 2025-03-20) ↗ |
| FY2022 | Dec 31, 2022 | 2,522 | +7.6% | PDD Holdings Inc. Form 6-K (tm249325d1_ex99-1.htm, filed 2024-03-21) ↗ |
| FY2021 | Dec 31, 2021 | 2,344 | +54.2% | PDD Holdings Inc. Form 6-K (tm2310024d1_ex99-1.htm, filed 2023-03-22) ↗ |
| FY2020 | Dec 31, 2020 | 1,520 | +71.5% | PDD Holdings Inc. Form 6-K (tm229947d1_ex99-1.htm, filed 2022-03-22) ↗ |
| FY2019 | Dec 31, 2019 | 886 | +551.3% | PDD Holdings Inc. Form 6-K (a21-10044_1ex99d1.htm, filed 2021-03-18) ↗ |
| FY2018 | Dec 31, 2018 | 136 | +2,206.8% | PDD Holdings Inc. Form 6-K (a20-12514_1ex99d1.htm, filed 2020-03-12) ↗ |
| FY2017 | Dec 31, 2017 | 5.90 | – | PDD Holdings Inc. Form 6-K (a19-6538_1ex99d1.htm, filed 2019-03-15) ↗ |
Cite this data
StockData. (2026). PDD SBC in Research and Development (RMB million) (M), annual FY2017–FY2025 [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.