投资要点：据公司公告，拼多多24Q3 实现营收994 亿元（市场一致预期1029 亿元），同比增长44%，经营利润同比增长46%至243 亿元，Non-GAAP 归母净利润同比增长61%至275 亿元（市场一致预期达292 亿元）。百亿减免优化生态，短期影响佣金收入增速。据公司公告，24Q3 主站加大资源投入，8 月以来陆续落地百亿减免政策，扶持新质商家及产业带，先后推出多项服务费退返、下调先用...
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