What strategic changes caused PDD's 2024 revenue acceleration?

PDD's 2024 revenue acceleration was primarily driven by strategic investments and merchant support initiatives, despite facing intensified market competition:

1. **Enhanced Merchant Support**: PDD introduced a ¥10 billion fee reduction program, benefiting over 10 million merchants by reducing costs and improving efficiency. This move strengthened merchant adoption and loyalty, contributing to transaction service revenue growth.
2. **Logistics Support Measures**: Implementation of logistics support measures, such as eliminating transshipment fees for orders to remote regions, significantly boosted order volume growth. Free shipping initiatives extended benefits to nearly 100 million consumers, enhancing consumer satisfaction and driving sales.
3. **Agricultural Technology and Supply Chain Innovation**: Continued investments in agricultural technology and supply chain innovation supported the agricultural industry and next-generation farmers, aligning with sustainable development goals. This strategic focus not only strengthened PDD's competitive position in the agricultural sector but also contributed to long-term value creation.
4. **Platform Ecosystem Development**: Focus on platform ecosystem development, including the establishment of a Merchant Rights Protection Committee, improved communication and addressed merchant issues, fostering a healthier business environment. This emphasis on ecosystem investment attracted more merchants and users, driving platform growth.

In summary, PDD's 2024 revenue acceleration was fueled by strategic initiatives that enhanced merchant support, improved logistics, invested in agricultural technology, and developed the platform ecosystem. These moves positioned PDD for long-term growth and competitiveness in the e-commerce market.