China tech revenue growth
This chart compares annual revenue growth at China's six largest US-listed platform companies: Alibaba, PDD, JD.com, Baidu, NetEase, and Trip.com. As foreign private issuers they report audited figures once a year in yuan, so the chart is annual and every company is rebased to 100 at fiscal 2019 — growth paths are comparable while company size, business mix, and currency stay outside the chart.
What does it show?
PDD has grown revenue more than tenfold since fiscal 2019, while Baidu has barely grown at all.
Methodology
Annual whole-company revenue for Alibaba, PDD, JD.com, Baidu, NetEase, and Trip.com from SEC companyfacts behind each company's 20-F filings. Foreign private issuers publish audited figures annually rather than quarterly, in yuan; each company is independently rebased to 100 at the first fiscal year common to all constituents, so no currency conversion enters the chart. Fiscal years are labeled by the calendar year containing most of the period (Alibaba's fiscal year ends March 31). The basket is a fixed editorial grouping, not an investable index, and whole-company revenue mixes many business lines.