• PDD Holdings average return on tangible equity for 2023 was 34.64, a 27.49% increase from 2022.
• PDD Holdings average return on tangible equity for 2022 was 27.17, a 1241.6% increase from 2021.
• PDD Holdings average return on tangible equity for 2021 was -2.38, a 92.82% decline from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.