TickerFacts.

PDD Holdings Inc. (PDD): R&D Expense

Annual figures by period end, from SEC filings.

16.50B CNY
Year ended 2025-12-31
+16.7%
3-year compound annual growth
+19.1%
5-year compound annual growth
2016-12-31: 29.42M CNY2017-12-31: 129.18M CNY2018-12-31: 1.12B CNY2019-12-31: 3.87B CNY2020-12-31: 6.89B CNY2021-12-31: 8.99B CNY2022-12-31: 10.38B CNY2023-12-31: 10.95B CNY2024-12-31: 12.66B CNY2025-12-31: 16.50B CNY16.50B CNY
2016-12-31 R&D Expense (CNY) 2025-12-31
Period endedR&D ExpenseChange YoYSource filing
2025-12-3116.50B CNY+30.3%2026-04-29, From 2025-01-01
2024-12-3112.66B CNY+15.6%2026-04-29, From 2024-01-01
2023-12-3110.95B CNY+5.5%2026-04-29, From 2023-01-01
2022-12-3110.38B CNY+15.5%2025-04-28, From 2022-01-01
2021-12-318.99B CNY+30.5%2024-04-25, From 2021-01-01
2020-12-316.89B CNY+78.1%2023-04-26, From 2020-01-01
2019-12-313.87B CNY+246.8%2022-04-25, From 2019-01-01
2018-12-311.12B CNY+763.9%2021-04-30, From 2018-01-01
2017-12-31129.18M CNY+339.1%2020-04-24, From 2017-01-01
2016-12-3129.42M CNYn/a2019-04-24, From 2016-01-01

R&D Expense at similar companies

Companies with the same SEC industry code (Services-Business Services, NEC), reporting in the same currency, closest in revenue. Each shows its own latest fiscal year, so period ends differ.

CompanyYear endedR&D ExpenseChange YoY
PDD Holdings Inc. (PDD)2025-12-3116.50B CNY+30.3%
Alibaba Group Holding Ltd (BABA)2026-03-3166.53B CNY+16.4%
Trip.com Group Ltd (TCOM)2025-12-3115.14B CNY+15.2%
Uxin Ltd (UXIN)2025-12-3112.41M CNYn/a
Zhihu Inc. (ZH)2025-12-31525.00M CNY-28.3%
Quhuo Ltd (QH)2025-12-317.11M CNY-33.5%
36Kr Holdings Inc. (KRKR)2025-12-3112.71M CNY-11.8%
MOGU Inc. (MOGU)2026-03-3128.78M CNY-4.0%
Token Cat Ltd (TC)2024-12-3111.89M CNY+5.5%

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