Pinduoduo reiterated its priority to abuse up research and development and invest in hike up agricultural productivity in its latest results announcement .
The online marketplace operator reported 61 billion orders in sum for 2021 , up from 38.3 billion from the year before , drive by rising Department of Agriculture dealing . The bit of dynamic customers also increased to 868.7 million . In 2021 , the company spent around 9 billion kwai in R&D , the highest tier in its history .
As its exploiter growth approaches market saturation , Pinduoduo has signal that it would shift its priorities to invest for the long term by focalise on inquiry and development . The caller has identified building up a chic logistics base system with grim wastage and spoiling as a key area for investment .
Pinduoduo previously said it will gift in grooming young talent to strengthen its managerial ranks , and develop more aspire entrepreneurs to set up businesses to aid their communities .
“ In 2021 , we made the strategic shift from sales and marketing toward research and development . ” say Chen Lei , Pinduoduo Chairman and CEO . “ We see ourselves make more farseeing - term investment funds , specially in agriculture and R&D. ”
invest in agriculture has become a assay-mark of Pinduoduo , which learn the abject rate of digitalisation in the sphere as an chance to better productiveness and bring widespread benefits to producer and consumers alike .
To engagement , the ship’s company has set up training partnership with local agronomic institute to help oneself Fannie Farmer kick upstairs their accomplishment . Pinduoduo is also the organizer of the one-year Smart Agriculture Competition , a glasshouse challenge designed to foster a crown of thorns - pollination of ideas and extradite a multi - disciplinal approach to solving agricultural challenge .
The company also on a regular basis machinate noesis - sharing event . Earlier this month , Pinduoduo jointly hosted a webinar with the FAO in China on how smart Department of Agriculture can bolster intellectual nourishment production and security .
As the large online platform for farming sales in China , Pinduoduo give up commissions for agricultural products to boost more husbandman and agricultural entrepreneur to try out e - commerce . The company also works with local better half to throw special agricultural shopping festivals to boost consumer awareness of agrarian specialties from unlike region .
Its flagship Annual Harvest Festival promote high - quality produce from more than 400 growing neighborhood , include many geographical indicant in China .
Last August , Pinduoduo foretell a 10 Billion Agriculture Initiative dedicate to facilitating agritech and promoting digital inclusion . Profits from the fourth quarter will be allocate to the enterprisingness , the party said .
