In a letter to investors, Pinduoduo founder Colin Huang suggests that companies with new business models, a group that Huang portrayed Pinduoduo as leading, are expected to outrun their older rivals in a world that’s witnessing a “reestablishment.”
拼多多創(chuàng)始人黃崢在給投資者的信中說，以拼多多為主的采用新的經(jīng)營模式的公司預(yù)計(jì)在“重建”的行業(yè)環(huán)境中會(huì)比資歷更老的對(duì)手更有優(yōu)勢(shì)。

The already intense rivalry between Pinduoduo and arch-rivals like Alibaba and JD is reaching a fever pitch as the Covid-19 is moving more Chinese shoppers online.
新冠病毒把更多的中國店家逼到了線上，因此拼多多和阿里巴巴、京東等勁敵之間原本就很激烈的競(jìng)爭已經(jīng)達(dá)到了白熱化。

Instead of playing catch-up, the four-year-old company now claims to be China’s second-largest e-commerce platform with 585.2 million active buyers, next only to Alibaba.
這家成立四年的公司并沒有窮追猛打，而是聲稱是中國第二大電商平臺(tái)，僅次于阿里巴巴，擁有5.852億活躍買家。

Both Alibaba and JD have rolled out their counterpart apps that adopt similar models of Pinduoduo. More rivals like Alibaba-backed Suning are reportedly joining the battle.
阿里巴巴和京東都效仿拼多多的模式推出了各自的應(yīng)用程序。更多的競(jìng)爭對(duì)手也加入了進(jìn)來，包括阿里巴巴支持的蘇寧。

Included in Pinduoduo’s 2019 annual report was a letter from its founder and CEO Colin Huang which sought to reassure shareholders about the company’s long-term growth prospects.
拼多多2019年的年報(bào)中有一封創(chuàng)始人兼首席執(zhí)行官黃崢寫的信，其目的是要讓股東對(duì)公司長期的發(fā)展前景放心。

Different from the previous public letters that mainly address the company’s operations and strategies, Huang explained this time his thoughts on the Covid-19 pandemic as well as the history of time, mentioning the theories of big thinkers from Newton to Einstein.
此前的公開信主要針對(duì)的是公司業(yè)務(wù)和戰(zhàn)略，而此次不同，黃崢解釋了他對(duì)新冠疫情和時(shí)間簡史的看法，還提到了牛頓和愛因斯坦等大人物的理論。

By predicting a new world setup, he believes new models will prosper the most. He predicts old models will be phased off, without mentioning the company’s rivals by name.
通過預(yù)測(cè)新的世界格局，他認(rèn)為新模式將最為成功。他預(yù)測(cè)舊模式將被取代，但沒有指出對(duì)手公司的名字。

The company has recorded? RMB1.01 trillion ($144.6 billion) of gross merchandise volume from 585.2 million active buyers in 2019. That’s RMB1,720 ($247.1) of annual spending per active buyer, up 53% year on year from RMB 1,127 in 2018, the company’s 2019 report shows.
該公司2019年記錄的商品總價(jià)值高達(dá)1.01萬億元（1446億美元），擁有5.852億活躍買家。該公司2019年的報(bào)告顯示，每位活躍買家的年平均消費(fèi)額為1,720元（247.1美元），比2018年的1,127元高出了53%。

Results may vary: Public reception of Huang’s letter has been mixed. While some appreciate Huang’s philosophic thinking, others complain the letter is missing the point and offers no valuable detail for investors.
結(jié)果可能有所不同：公眾對(duì)黃崢的信的看法不一。雖然有些人欣賞他的哲學(xué)思維，但其他人卻說這封信重點(diǎn)不突出，沒有給投資者提供有價(jià)值的細(xì)節(jié)。

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翻譯：菲菲