PDD vs QH
PDD Holdings Inc. and Quhuo Ltd., side by side — 8 fiscal years reported in CNY, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | PDD | QH |
|---|---|---|
| Revenue | ¥431.8B | ¥2.5B |
| Net income | ¥97.8B | ¥-149.5M |
| Gross margin | 56.3% | 0.5% |
| Net margin | 22.7% | −5.9% |
| Return on equity | 26.9% | −36.5% |
| Diluted EPS | — | — |
| Dividend / share | — | — |
| Payout ratio | — | — |
| Free cash flow | ¥28.2B | ¥-39.4M |
| Equity | ¥413.4B | ¥354.8M |
| Net debt / equity | −1.21× | 0.21× |
| Current ratio | 2.43× | 1.03× |
| Revenue CAGR 5y | 48.7% | −0.4% |
| Profit CAGR 5y | — | — |
PDD bills 171.0× the revenue of QH, and QH closed the last reported year at a loss.
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner.
Advertisement
AdSense · Leaderboard 728×90 · responsive
Revenue by year
8 years side by side
| Fiscal year | PDD | QH |
|---|---|---|
| FY2025 | ¥431.8B | ¥2.5B |
| FY2024 | ¥393.8B | ¥3.0B |
| FY2023 | ¥247.6B | ¥3.7B |
| FY2022 | ¥130.6B | ¥3.8B |
| FY2021 | ¥93.9B | ¥4.0B |
| FY2020 | ¥59.5B | ¥2.6B |
| FY2019 | ¥30.1B | ¥2.1B |
| FY2018 | ¥13.1B | ¥1.5B |
Net income by year
Bottom line
| Fiscal year | PDD | QH |
|---|---|---|
| FY2025 | ¥97.8B | ¥-149.5M |
| FY2024 | ¥112.4B | ¥2.7M |
| FY2023 | ¥60.0B | ¥3.3M |
| FY2022 | ¥31.5B | ¥-13.1M |
| FY2021 | ¥7.8B | ¥-157.9M |
| FY2020 | ¥-7.2B | ¥3.4M |
| FY2019 | ¥-7.0B | ¥-11.8M |
| FY2018 | ¥-10.2B | ¥-42.6M |
Advertisement
AdSense · Rectangle 336×280