Pinduoduo, which used to only rent office spaces, has purchased a building in Xiongan.
Another internet giant has flocked to Xiongan.
On June 21, Pinduoduo Group officially signed a contract with PowerChina, and acquired an office building in the Digital New Consumption E-commerce Industrial Park of Xiongan PowerChina Smart City through overall purchase.
This is Pinduoduo's first time "buying a building".
Industrial Park in Xiongan New Area
Since its official launch in September 2015, although Pinduoduo has developed to about 25,500 employees and over 430 billion in revenue, it has always adopted a light - asset office model, insisting on not buying or building buildings.
Not building its own headquarters, leasing office buildings in a decentralized manner, and even most of the core operational assets such as servers and warehouses are leased. By reducing capital precipitation and investing funds in company operations such as supply chain and subsidies to maintain high efficiency, this is almost Pinduoduo's principle.
But this time is different. Pinduoduo chose to buy a building in Xiongan. Moreover, Pinduoduo acted very quickly this time.
On May 27, 2026, Pinduoduo registered a company in Xiongan: Pinduoduo Information Technology Service (Xiongan) Co., Ltd., with a registered capital of 500 million yuan.
The legal representative of this branch is Yang Qingyong, the senior vice - president of Pinduoduo Group's Temu. The supervisor is Zhu Zheng, the executive president of Pinduoduo Group and the president of Xinpinmu. The actual controller is Chen Lei, the co - founder, co - chairman and co - CEO of Pinduoduo Group.
Yang Qingyong is a core middle - level executive of Pinduoduo, directly in charge of the domestic cross - border investment promotion and government - enterprise cooperation line. The Xiongan company led by him this time is positioned as: not engaging in e - commerce transactions, focusing on big data processing, cloud platforms, digital operation and maintenance, platform compliance review, and technology outsourcing services. It is the strategic entity for Pinduoduo to layout the national - level digital new area.
Source: Tianyancha
While the new company in Xiongan was registered, Pinduoduo started recruiting. On June 10, the first batch of 150 employees officially joined the company.
On June 16, Zhu Zheng, the executive president of Pinduoduo Group and the president of Xinpinmu, led a group to conduct an inspection and research in Xiongan New Area, and signed a "Strategic Cooperation Framework Agreement on Digital Services" with the Xiongan New Area Management Committee.
Zhu Zheng said: Pinduoduo Group will take root in Xiongan, serve Xiongan, increase resource investment and industrial layout, actively explore more cooperation potential, implement more business scenarios, empower the upstream and downstream of the industrial chain with digital technology, build a modern and integrated supply chain system, and contribute to the in - depth promotion of the high - quality construction and development of Xiongan New Area with practical actions.
Just five days after Zhu Zheng went to Xiongan, on June 21, Pinduoduo signed a contract with Hebei Xiongan Construction and Development Co., Ltd., a subsidiary of PowerChina, officially announcing the "purchase of a building".
It is understood that Pinduoduo's new office building in Xiongan has a total of 12 floors. It is one of the key theme buildings in Xiongan PowerChina Smart City. The building is equipped with a large - scale conference center and training center, and welfare facilities such as mother - and - baby rooms and leisure areas are provided for employees. It is expected to be officially put into use at the end of July. The canteen in the park is also under preparation. The first batch of employees of the Xiongan company are currently working in temporary offices. By then, they will all move into the new office building.
Pinduoduo's new office building in Xiongan
Pinduoduo's new office building in Xiongan is opposite the Xiongan Outlets. Two streets away are the Xiongan Fund Industrial Park and the Impression Xiongan Scenic Area.
Source: Gaode Map
Pinduoduo released a message saying that in the future, the Xiongan company will provide more than 5,000 jobs for the local area. More than 80% of the first batch of 150 new employees are from the Beijing - Tianjin - Hebei region, including many fresh graduates from Hebei universities. The three - dimensional transportation network around the new office building, which is connected to various places in the Beijing - Tianjin - Hebei region, also creates convenient conditions for the new company to attract all kinds of high - quality talents.
The total construction area of the Xiongan PowerChina Smart City project of PowerChina is about 1.66 million square meters. The whole project is very large. Pinduoduo bought one of the buildings 1 - 4 in the Western Area of Mingzhi Port, with a market unit price of about 13,000 - 21,000 yuan per square meter. The positioning of this park itself is to "build a demonstration base for e - commerce industry in Hebei Province, a collaborative innovation headquarters for digital e - commerce in the Beijing - Tianjin - Hebei region, and a benchmark park for the development of national - level digital economy".
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