拼多多收入增速创三年新低

近日，拼多多公布，公司利润大幅下降，收入增速降至三年来最低水平。

今天你练听力了吗？

🤔️小作业：

1. Based on the article, which of the following is most likely a reason why PDD missed market expectations?

A. Its primary revenue source shifted from domestic to international markets

B. It invested heavily in building physical retail stores

C. It faced increased costs due to intensified competition and trade barriers

D. It reduced marketing efforts to focus on long-term branding

无注释原文：

Temu Owner PDD's Profit Nearly Halves as Revenue Growth Slows to Three-Year Low

From: The Wall Street Journal

The results come as PDD faces a major setback to its global ambitions to scale its popular shopping platform.

The Chinese owner of bargain-shopping app Temu reported sharply lower profit and its slowest revenue growth in three years as tariff barriers threatened its business and increased merchant support weighed on its bottom line.

PDD Holdings on Tuesday said its first-quarter revenue rose 10% from a year earlier to 95.67 billion yuan, equivalent to $13.31 billion. That undershot market expectations of 104.41 billion yuan and marked its slowest top-line growth since the first quarter of 2022.

Net profit fell 47% to 14.74 billion yuan, widely missing a FactSet-compiled consensus estimate of 26.125 billion yuan.

The weaker-than-expected results come as PDD faces a major setback to its global ambitions to scale its popular Temu shopping platform, which has been a hit with budget-conscious consumers in the U.S.

An escalation in trade tensions between the U.S. and China forced PDD to raise prices on the platform in April. The Trump administration's scrapping of a duty exemption for low-value packages entering the country from China, which Chinese e-commerce companies lean on heavily, has cast a shadow over PDD's business in the U.S.

Temu-owner PDD Holdings profit dives as it faces challenges at home and abroad

From: Reuters

Chinese e-commerce firm PDD Holdings, saw first-quarter net profit fall 47% to 14.74 billion yuan ($2.05 billion) as its domestic platform suffered from intense local competition and its international business was hit by global trade uncertainty.

U.S.-listed shares of the company fell more than 17%.

China's largest online e-commerce platforms - Alibaba, Pinduoduo and JD.com - have been scrambling for a greater share of the domestic market, sparking a long-running price war to entice consumers to open their wallets.

- ◆ -

注：完整题目见本文开头；中文文本部分为华尔街日报官方译文，部分为机器翻译，仅供参考

含注释全文：

Temu Owner PDD's Profit Nearly Halves as Revenue Growth Slows to Three-Year Low

From: The Wall Street Journal

The results come as PDD faces a major setback to its global ambitions to scale its popular shopping platform.

这项结果公布之际，拼多多的热门购物平台全球扩张计划正面临重大挫折。

scale /skeɪl/ 表示“扩大规模”或“拓展”。常见于商业语境中，指的是企业将某项业务从小规模扩展到大规模运作。

scale sth up表示“增加，增大”，英文解释为“to increase the size, amount, or importance of something, usually an organization or process”举个🌰：My company is scaling up its operations in Western Asia. 我公司正在扩大西亚的业务。

The Chinese owner of bargain-shopping app Temu reported sharply lower profit and its slowest revenue growth in three years as tariff barriers threatened its business and increased merchant support weighed on its bottom line.

廉价购物应用Temu的中国所有者拼多多(PDD Holdings)公布，公司利润大幅下降，收入增速降至三年来最低水平，因关税壁垒威胁到其业务且商家支持成本上升令利润承压。

bargain /ˈbɑː.ɡɪn/ 1）表示“便宜货，廉价品”，英文解释为“something on sale at a lower price than its true value”举个🌰：This coat was half-price - a real bargain. 这件大衣是半价买的——真便宜。

2）表示“协议；交易”，英文解释为“an agreement between two people or groups in which each promises to do something in exchange for something else”举个🌰：The management and employees eventually struck/made a bargain (= reached an agreement). 劳资双方最终达成了协议。

作动词，表示“（与某人就某事）讨价还价，商讨条件”，英文解释为“to discuss prices, conditions, etc. with sb in order to reach an agreement that is acceptable”举个🌰：He said he wasn't prepared to bargain. 他说他不愿讨价还价。

revenue /ˈrev.ən.juː/ 表示“税收，岁入；（公司的）收益”，英文解释为“the income that a government or company receives regularly”

tariff /ˈtærɪf/ 表示“关税”，英文解释为“A tariff is a tax that a government collects on goods coming into a country.”

merchant /ˈmɜːtʃənt/ 表示“商人；批发商；（尤指）进出口批发商”，英文解释为“a person who buys and sells goods in large quantities, especially one who imports and exports goods”如：builders' merchants (= who sell supplies to the building trade) 建材批发商。

weigh /weɪ/ on sb/sth 表示“（问题、责任等）使（某人）焦虑不安，使（某人）担忧”，英文解释为“If a problem or responsibility weighs on you, it makes you worried or unhappy.”举个🌰：He's under huge pressure at work and it's really weighing on him. 他工作压力很大，内心负担很重。

1）表示“底线；最重要的事实”，英文解释为“the most important fact in a situation”

2）表示“损益表底线；盈亏一览结算线”，英文解释为“the final line in the accounts of a company or organization, stating the total profit or loss that has been made”举个🌰：How will the rise in interest rates affect our bottom line? 利率上升对我们的盈亏状况会有什么影响？

PDD Holdings on Tuesday said its first-quarter revenue rose 10% from a year earlier to 95.67 billion yuan, equivalent to $13.31 billion. That undershot market expectations of 104.41 billion yuan and marked its slowest top-line growth since the first quarter of 2022.

拼多多周二表示，第一季度收入同比增长10%，至人民币956.7亿元，相当于133.1亿美元。该数字低于市场预期的人民币1,044.1亿元，并且是自2022年第一季度以来收入增速最慢的一次。

equivalent /ɪˈkwɪv.əl.ənt/ 1）作形容词，表示“（价值、数量、意义、重要性等）相等的，相同的”，英文解释为“equal in value, amount, meaning, importance, etc.”举个🌰：Eight kilometres is roughly equivalent to five miles. 八公里约等于五英里。

2）作名词，表示“相等的东西；等量；对应词”，英文解释为“a thing, amount, word, etc. that is equivalent to sth else”

表示“未达到、低于（预期、目标或标准）”，英文解释为“to fail to achieve a particular result”

类似还有： missed expectations（未达预期），fell short of projections（低于预测）

Net profit fell 47% to 14.74 billion yuan, widely missing a FactSet-compiled consensus estimate of 26.125 billion yuan.

净利润下降47%，至人民币147.4亿元，远低于FactSet汇编的平均预期人民币261.25亿元。

compile /kəmˈpaɪl/ 1）表示“汇编；编纂；编辑；编制”，英文解释为“to collect information from different places and arrange it in a book, report, or list”举个🌰：We're compiling some facts and figures for a documentary on the subject. 我们正在为一部有关这个主题的纪录片汇编资料。

2）表示“编译（计算机程序）”，英文解释为“to change a computer program into a machine language”

consensus /kənˈsen.səs/ 表示“一致的意见；共识”，英文解释为“a generally accepted opinion or decision among a group of people”举个🌰：The general consensus in the office is that he can't do his job. 办公室成员一致认为他无法胜任工作。

📍这个词来自拉丁语“consensus”，意味着“共同感觉”或“一致同意”。近义词：agreement（协议），同根词：consent（同意），常用短语：build consensus（建立共识）

The weaker-than-expected results come as PDD faces a major setback to its global ambitions to scale its popular Temu shopping platform, which has been a hit with budget-conscious consumers in the U.S.

拼多多业绩弱于预期之际，该公司正面临着扩大旗下广受欢迎的Temu购物平台这一全球性计划遭遇重大挫折的局面；Temu深受美国注重性价比的消费者的欢迎。

conscious /ˈkɒn.ʃəs/ 表示“（用于名词或副词后）有…意识的，看重…的”，英文解释为“determined and intentional”如：fashion-conscious teenagers 注重时尚的青少年，the health-conscious consumer 注重健康的消费者。

An escalation in trade tensions between the U.S. and China forced PDD to raise prices on the platform in April. The Trump administration's scrapping of a duty exemption for low-value packages entering the country from China, which Chinese e-commerce companies lean on heavily, has cast a shadow over PDD's business in the U.S.

贸易紧张关系的升级，迫使拼多多在4月份上调该平台商品价格。Trump政府取消了针对中国商品的“小额豁免”条款，而中国的电商公司高度依赖这种关税豁免，这为拼多多在美国市场的业务前景蒙上了一层阴影。

表示“升级；恶化；增加”，英文解释为“the process of becoming greater or more serious, or a particular situation when thishappens”举个🌰：The threat of nuclear escalation remains. 核升级的威胁依然存在。

1）表示“废弃；取消；抛弃；报废”，英文解释为“to cancel or get rid of sth that is no longer practical or useful”举个🌰：They had been forced to scrap plans for a new school building. 他们已被迫撤销了建筑新校舍的计划。

2）表示“打架”，英文解释为“to fight with sb”举个🌰：The bigger boys started scrapping. 年龄较大的男孩打了起来。

📍2019年9月份，经济学人（The Economist）的一篇关于美国拟撤销奥巴马时期甲烷排放规定的文章中，就以「Energy companies are divided over a plan to scrap methane-emission rules」为题，用到了scrap这个词。

而在引言（unwind Obama-era environmental regulations）中则用unwind来替换scrap这一含义。

📍unwind一词表示“解开；放松”，英文解释为“To undo (a financial arrangement or position) through the neessary legal or financial steps. If you unwind a length of something that is wrapped around something else or around itself, you loosen it and make it straight. You can also say that it unwinds.”举个🌰：One of them unwound a length of rope from around his waist. 他们中的一个人解开绕在他腰间的一条绳子。

duty 英式 /ˈdʒuː.ti/ 美式/ˈduː.t̬i/ 熟词僻义，表示“税；（尤指进口）关税”，英文解释为“a tax paid to the government, especially on things that you bring into a country”举个🌰：There's a high duty on alcohol. 酒类的关税很高。

exemption /ɪɡˈzemp.ʃən/ 表示“豁免”，英文解释为“special permission not to do or pay something”举个🌰：Candidates with a qualification in chemistry have exemption from this course. 有化学学历的学生可以免修此课。

lean on sb 表示“向（某人）施加压力，威胁（某人）；依靠（支持和鼓励）”，英文解释为“to try to make someone do what you want by threatening or persuading them”举个🌰：We may have to lean on them a little if we want our money. 我们如果想把钱拿回来，就必须要对他们施加一些压力。

Temu-owner PDD Holdings profit dives as it faces challenges at home and abroad

From: Reuters

Chinese e-commerce firm PDD Holdings, saw first-quarter net profit fall 47% to 14.74 billion yuan ($2.05 billion) as its domestic platform suffered from intense local competition and its international business was hit by global trade uncertainty.

中国电商企业拼多多控股（PDD Holdings）第一季度净利润同比下滑47%，降至147.4亿元人民币（约合20.5亿美元），主要原因是其国内平台面临激烈本土竞争，而国际业务也受到全球贸易不确定性的冲击。

U.S.-listed shares of the company fell more than 17%.

该公司美股下跌超过17%。

list作动词，表示“使（公司）上市；（公司）上市”（If a company is listed, or if it lists, on a stock exchange, it obtains an official quotation for its shares so that people can buy and sell them.）举个🌰：Last month, thirty new companies were listed. 上个月有30家公司上市。

📍relist 重新上市。

📍listing作名词，除了表示“（表册上的）位置，项目”，也有“上市”的含义，英文解释为“a position or an item on a list”举个🌰：The company is seeking a stock exchange listing (= for trading shares). 这家公司正在争取上市。

China's largest online e-commerce platforms - Alibaba, Pinduoduo and JD.com - have been scrambling for a greater share of the domestic market, sparking a long-running price war to entice consumers to open their wallets.

阿里巴巴、拼多多和京东这三大中国电商平台，近年来一直在激烈争夺国内市场份额，由此引发了一场持久的价格战，力图激发消费者的购买欲望。

scramble /ˈskræm.bəl/ 作名词，表示“争抢；抢占；争夺”，英文解释为“a situation in which people push, fight or compete with each other in order to get or do sth”举个🌰：There was a mad scramble for the best seats. 人们不顾一切地抢占最好的座位。

作动词：1）表示“艰难地（或仓促地）完成”，英文解释为“to manage to achieve sth with difficulty, or in a hurry, without much control”

2）表示“仓促行动”，英文解释为“If you scramble to a different place or position, you move there in a hurried, awkward way.”举个🌰：He threw back the covers and scrambled out of bed. 他掀开被子，急忙下了床。

3）表示“争夺”，英文解释为“If a number of people scramble for something, they compete energetically with each other for it.”举个🌰：More than three million fans are expected to scramble for tickets. 预计会有三百万以上的歌迷抢购门票。

4）表示“扰乱（思维）”，英文解释为“to confuse sb's thoughts, ideas, etc. so that they have no order”举个🌰：Alcohol seemed to have scrambled his brain. 酒精似乎扰乱了他的脑子。

entice /ɪnˈtaɪs/ 表示“诱惑；诱使；引诱”，英文解释为：to persuade someone to do something or go somewhere, usually by offering them something that they want，短语：entice sb/sth to do sth，举个🌰：Our special offers are intended to entice people to buy. 我们的特价优惠是为了吸引人们购买。

对比：

📍seduce 表示“引诱，诱惑”，英文解释为“to persuade or cause someone to do something that they would not usually consider doing by being very attractive and difficult to refuse”举个🌰：I wouldn't normally stay in a hotel like this, but I was seduced by the fabulous location. 我一般不会住在这样的旅馆，但还是被其地点所诱。

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