IT News on October 16th: According to a report by Cailian Press on the evening of October 15th, several industry insiders confirmed that Pinduoduo has acquired a Class-A office building located in Hongqiao, Changning District, Shanghai, from Tieshimen.
A senior executive from a well-known real estate agency revealed that Pinduoduo's acquisition was conducted directly with the seller, without going through any intermediaries. "Pinduoduo didn't buy just a few floors; they acquired an entire building. From the information we have so far, this transaction was completed in the third quarter of this year, and the amount involved is approximately 1.2 billion yuan."
According to a report by Cailian News in July this year, Pinduoduo purchased a building in Pudong New Area, Shanghai – the Star Alliance Bank Tower located in Lujiazui. If the information is true, this would be Pinduoduo's second major real estate acquisition in Shanghai this year.
IT noticed that in June this year, the Xiongan·Dianjian Zhihui City project, constructed and operated by PowerChina, officially signed a contract with Pinduoduo Group. Pinduoduo Group acquired the Xiongan·Dianjian Zhihui City Digital New Consumption E-commerce Industrial Park through an overall purchase.
Financial reports show that Pinduoduo's total operating revenue in the first half of 2026 was 218.587 billion yuan, a year-on-year increase of 9.48%; net profit attributable to the parent company was 39.729 billion yuan, a year-on-year decrease of 12.68%.
