Look look look, it's been almost a month since I appeared

Bought Pinduoduo, currently making about 4% profit

I just saw a report saying that Pinduoduo is going to layout instant delivery, so I quickly checked the data, after all, e-commerce platforms that dabble in logistics delivery have their gross profit margins inevitably slashed

Pinduoduo had 100 billion RMB in revenue last quarter, with a gross profit margin of over 50%
Meituan had over 80 billion RMB in revenue last quarter, with a gross profit margin of 37%
JD.com had 300 billion RMB in revenue last quarter, with a gross profit margin of 15%

I was shocked by JD.com's revenue, but why is JD.com getting poorer as it earns more?
Behind the 300 billion revenue but only 15% gross profit margin 😂 I don’t understand, but I think the only explanation is probably the operating costs of self-built logistics. Now I’m worried about whether Pinduoduo's instant delivery will affect its stock price, but it seems that it won’t have too much impact for now; the initial setup is limited in product variety and relies on third-party logistics cooperation, which is a cautious early experiment.