Pinduoduo (PDD) has seen significant growth in 3Q23, primarily driven by its expanding international presence and a strategic shift towards a low-price model. 

Since November 2022, PDD has broadened its horizons, establishing a cross-border business in over 39 countries, ranging from the US and Europe to Southeast Asia. 

The company's overseas Gross Merchandise Volume (GMV) is expected to exceed USD$5B in 3Q23, showcasing the effectiveness of its low-price, acceptable-quality strategy in capturing market share internationally. 

Domestically, PDD's ecommerce and community group buying businesses continue to thrive, with particular growth in Apparel & Accessories and Food categories. 

With an estimated total revenue of RMB58,719M for 3Q23, PDD is outperforming market expectations and solidifying its position as a go-to platform for bargain hunters amidst an economic downturn.