Officials say the real estate market is bottoming out. What’s your view on China's property market?

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Stirling joined discussion · Oct 2, 2024 13:12

PDD Forward PE?

$PDD Holdings (PDD.US)$

Below is my estimate of PDD EPS for FY2024:

* Q1 2024: Actual EPS came in at CNY18.9.

* Q2 2024: Actual EPS was CNY21.60.

* Q3 2024: Actual EPS was CNY21.00.#

* Q2 2024: Actual EPS was CNY21.00.#

## Earnings are expected to fluctuate due to increased investments in merchant support and competitive pressures, with overall projections for full-year EPS around CNY82.5 or US$11.7 (assuming flat qtr on qtr growth till Q4).

Based on current price of US$154, it is trading at around around 14X FY2024 PE. Caveat Emptor. DYODD.

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Stirling

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