Pinduoduo

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Pinduoduo
TickerPDD
CIK #0001737806
CUSIP722304102
SectorTrade & Services
IndustryServices-Business Services, Nec
Phone862152661300
Address28/F, No 533 Loushanguan Road Changning District
Shanghai, 200051
Source [EDGAR]
Market Cap, 13F ($)
1.00.80.60.40.20.02011201320152018
Business

We commenced our commercial operations in 2015 through Hangzhou Aimi Network Technology Co., Ltd., or Hangzhou Aimi, and Shanghai Xunmeng Information Technology Co., Ltd., or Shanghai Xunmeng, in parallel. In June 2016, to streamline the operations of these two companies, Hangzhou Aimi obtained 100% equity interest in Shanghai Xunmeng, and Shanghai Xunmeng became a wholly-owned subsidiary of Hangzhou Aimi.

We incorporated Walnut Street Group Holding Limited under the laws of the Cayman Islands as our offshore holding company in April 2015 to facilitate offshore financing. In the same month, we established HongKong Walnut Street Limited, or Walnut HK, our wholly-owned Hong Kong subsidiary, and Walnut HK established a wholly-owned PRC subsidiary, Hangzhou Weimi Network Technology Co., Ltd., or Hangzhou Weimi. Walnut HK established two additional wholly-owned PRC subsidiaries, Walnut Street (Shanghai) Information Technology Co., Ltd. (formerly known as Shanghai Pinduoduo Network Technology Co., Ltd.) and Shenzhen Qianhai Xinzhijiang Information Technology Co., Ltd., in January 2018 and April 2018, respectively, which, together with Hangzhou Weimi, are referred to as our WFOEs in this annual report. In July 2018, we renamed our company as Pinduoduo Inc.

Due to restrictions imposed by PRC laws and regulations on foreign ownership of companies that engage in internet and other related business, Hangzhou Weimi later entered into a series of contractual arrangements with Hangzhou Aimi, which we refer to as our VIE in this annual report, and its shareholders. We depend on these contractual arrangements with our VIE, in which we have no ownership interests, and its shareholders to conduct most aspects of our operation. We have relied and expect to continue to rely on these contractual arrangements to conduct our business in China. The shareholders of our VIE may have potential conflicts of interest with us. See "Item 3. Key Information-D. Risk Factors-Risks Related to Our Corporate Structure-The shareholders of our VIE may have potential conflicts of interest with us, which may materially and adversely affect our business and financial condition."

CIK Filing 2011 - 2021
[0001737806] 6-K
[0001737806] SC 13D
[0001737806] SC 13G
Form 13D/13G Filer Form 13D/13G Subject Filed % Owned
Qubit GP Ltd Pinduoduo Inc [2020-07-06] 7.7
BlackRock Inc Pinduoduo Inc [2020-02-07] 6.2
Sequoia Capital China Growth Partners Fund V LP Pinduoduo Inc [2019-02-14] 7.7
Huang Zheng Pinduoduo Inc [2019-02-13] 44.6
Banyan Partners Fund II LP Pinduoduo Inc [2019-02-04] 16.64
Tencent Holdings Ltd Pinduoduo Inc [2018-08-06] 33.4
MM Shares Owned of 1,107.8 MM Total
Firm Period DFND Voting Shares
Baillie Gifford & Co [2020-09-30] DFND 7.5 17.0
Tiger Global Management LLC [2020-09-30] SOLE 14.3 14.3
BlackRock Inc. [2020-09-30] SOLE 12.4 13.9
FMR LLC [2020-09-30] DFND 1.2 13.7
Renaissance Technologies LLC [2020-09-30] SOLE 11.6 11.7
Hillhouse Capital Advisors Ltd [2020-09-30] OTR 0.0 10.2
HSBC Holdings PLC [2020-09-30] SOLE 6.9 9.9
IDG China Venture Capital Fund IV Associates L.P. [2020-09-30] SOLE 9.7 9.7
Altimeter Capital Management, LLC [2020-09-30] SOLE 8.7 8.7
Vanguard Group Inc [2020-09-30] SOLE 0.0 8.7
Susquehanna International Group LLP [2020-09-30] DFND 1.1 8.3
Baillie Gifford & Co [2020-09-30] SOLE 4.5 6.9
State Street Corp [2020-09-30] DFND 4.2 6.6
Goldman Sachs Group Inc [2020-09-30] DFND 5.3 5.5
SC US TTGP Ltd [2020-09-30] DFND 5.3 5.3
Fisher Asset Management LLC [2020-09-30] DFND 1.8 4.1
BRILLIANCE ASSET MANAGEMENT Ltd [2020-09-30] SOLE 3.4 3.4
Greenwoods Asset Management Ltd [2020-09-30] SOLE 3.3 3.3
Parallax Volatility Advisers LP [2020-09-30] SOLE 3.0 3.0
UBS Group AG [2020-09-30] DFND 0.0 2.9
Anatole Investment Management Ltd [2020-09-30] SOLE 2.9 2.9
Citigroup Inc [2020-09-30] DFND 2.9 2.9
SC CHINA HOLDING Ltd [2020-09-30] DFND 2.6 2.6
Discovery Value Fund [2020-09-30] SOLE 2.5 2.5
Morgan Stanley [2020-09-30] DFND 2.3 2.4
Credit Suisse AG [2020-09-30] DFND 2.1 2.2
SCGE Management LP [2020-09-30] SOLE 2.2 2.2
Krane Funds Advisors LLC [2020-09-30] SOLE 2.0 2.0
Legal & General Group Plc [2020-09-30] DFND 1.0 1.8
Canada Pension Plan Investment Board [2020-09-30] SOLE 1.8 1.8
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