[Goldman Sachs firmly optimistic about Pinduoduo] According to a Goldman Sachs research report on August 27, Pinduoduo (PDD.O)'s stock price has performed poorly this year, and its current price-to-earnings ratio is less than 10 times, which has reflected investors' concerns about intensified domestic competition and Temu's geopolitics. At the same time, Pinduoduo's faster GMV growth and transaction service revenue exceeded expectations, which means that Temu's growth momentum continues. Pinduoduo is still one of the fastest growing companies in China's Internet industry in the second quarter, and its strategy/investment will drive future growth. Pinduoduo has a buy rating with a 12-month base target price of $184. (Reprinted from: Jinshi Data)