Hayden-Capital_Pinduoduo-Memo

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2024-04-10 999+ 1.37MB 36 页 海报
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摘要:

HAYDENCAPITAL11345AVENUEOFTHEAMERICAS33RDFLOORNEWYORK,NY10105HAYDENCAPITAL.COMPinduoduo(Nasdaq:PDD)PinduoduoisthethirdlargestecommerceplatforminChina.Webelievethestockisunder-valued,asPDDisnowtradingat~10.4xEV/FCF(adjustedforstock-basedcomp)or~6.4xEV/FCFon2025estimates.Thisvaluationseemsfartoocheap,...

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