YMM on NYSE

Full Truck Alliance Co. Ltd.

The FTA platform is a leading digital freight platform in China, connecting shippers with truckers to facilitate shipments across distance ranges, cargo weights and types.5 From its latest annual report

Price unavailable

Last updated Oct 19, 2026.

Overview

$1.8BRevenue, fiscal 20253
4.5BNet income, fiscal 20253

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  • TickerYMM on NYSE2
  • IndustryServices-Prepackaged Software2
  • HeadquartersNanjing, China2
  • Incorporated inCayman Islands4
  • Business addressBuilding 3, Wanbo R&D Park, 20 Fengxin Road, Yuhuatai District, Nanjing4
  • Filer categoryLarge accelerated filer4
  • Legal formexempt company2
  • LEI984500884LB1DP8DAC572
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressPO BOX 2681, KY1-1111 George Town, Cayman Islands2
  • Registered withGeneral Registry, 3313812

The FTA platform is a leading digital freight platform in China, connecting shippers with truckers to facilitate shipments across distance ranges, cargo weights and types.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

33.2%Operating margin3
249.7%Net margin3
16.0%Revenue growth, 20253
76.9%Return on equity3

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue12¢$660.5M
  • Research and development2¢$125.0M
  • Income tax2¢$132.9M
  • Profit83¢$4.5B

Out of $1.8B in revenue.3

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid31¢$203.8M
  • Share buybacks1¢$5.0M
  • Kept or used elsewhere68¢$452.8M

Out of $661.6M of cash from operations.3

Financial statements

Revenue67893$1.8B in 2025+144% since 2021
0$500.0M$1.0B$1.5B$2.0B2021: $730.8M$730.8M20212022: $976.3M$976.3M2022+34%2023: $1.2B$1.2B2023+22%2024: $1.5B$1.5B2024+30%2025: $1.8B$1.8B2025+16%
Operating income67893$592.9M in 2025
-$1.0B-$500.0M0$500.0M$1.0B2021: -$595.7M-$595.7M20212022: -$23.5M-$23.5M2022−96%2023: $140.5M$140.5M20232024: $339.1M$339.1M2024+141%2025: $592.9M$592.9M2025+75%
Net income67893$4.5B in 2025
-$5.0B-$2.5B0$2.5B$5.0B2019: -$1.5B-$1.5B20192020: -$3.5B-$3.5B2020+128%2021: -$3.7B-$3.7B2021+5%2022: $411.9M$411.9M20222023: $2.2B$2.2B2023+441%2024: $3.1B$3.1B2024+40%2025: $4.5B$4.5B2025+43%

Every line of the income statement as filed: the last 3 fiscal years, latest first.3

Period ending2025-12-312024-12-312023-12-31
"Net Revenues (including value added taxes, ""VAT"", of RMB4,172,660, RMB5,097,716 and RMB 4,671,363 for the years ended December 31, 2023, 2024 and 2025, respectively)"12.5B CNY11.2B CNY8.4B CNY
Cost of revenues (including VAT net of government grants, of RMB3,121,010, RMB3,893,351and RMB 3,262,448 for the years ended December 31, 2023, 2024 and 2025, respectively)-4.6B CNY-5.1B CNY-4.1B CNY
Sales and marketing expenses-1.7B CNY-1.6B CNY-1.2B CNY
General and administrative expenses-709.8M CNY-913.8M CNY-937.7M CNY
Research and development expenses-874.4M CNY-880.0M CNY-946.6M CNY
Provision for credit solutions-445.4M CNY-296.5M CNY-234.6M CNY
Total operating expenses-8.4B CNY-8.8B CNY-7.5B CNY
Other operating income52.5M CNY24.0M CNY38.4M CNY
Income from operations4.1B CNY2.5B CNY997.4M CNY
Interest income954.1M CNY1.1B CNY1.1B CNY
Foreign exchange (loss) gain-17.3M CNY8.0M CNY-2.1M CNY
Investment income94.7M CNY54.8M CNY55.6M CNY
Unrealized gains (losses) from fair value changes of investments116.2M CNY-20.9M CNY12.9M CNY
Other income, net109.2M CNY128.2M CNY130.3M CNY
Impairment loss0 CNY-352.7M CNY0 CNY
Share of loss in equity method investees-14.8M CNY-2.9M CNY-2.1M CNY
Total other income1.2B CNY887.9M CNY1.3B CNY
Net income before income tax5.4B CNY3.4B CNY2.3B CNY
Income tax expense-929.2M CNY-239.4M CNY-106.8M CNY
Less: net loss attributable to non-controlling interests-27.5M CNY-3.5M CNY-1.3M CNY
Net income attributable to Full Truck Alliance Co. Ltd.4.4B CNY3.1B CNY2.2B CNY
Net income attributable to ordinary shareholders4.4B CNY3.1B CNY2.2B CNY
Basic, earnings per ordinary share0.21 CNY0.15 CNY0.10 CNY
Diluted, earnings per ordinary share0.21 CNY0.15 CNY0.10 CNY
Basic20.8B shares20.8B shares21.1B shares
Diluted20.9B shares20.9B shares21.2B shares
Net income4.5B CNY3.1B CNY2.2B CNY
Foreign currency translation adjustments, net of tax of nil-484.4M CNY325.5M CNY386.7M CNY
Unrealized gains (losses) on available-for-sale investments, net of reclassification-599.0K CNY599.0K CNY0 CNY
Total comprehensive income4.0B CNY3.4B CNY2.6B CNY
Less: comprehensive loss attributable to non-controlling interests-27.5M CNY-3.5M CNY-1.3M CNY
Foreign Currency Translation Adjustments To Non Controlling Interests-3.2M CNY0 CNY0 CNY
Less: measurement adjustment attributable to redeemable non-controlling interests78.4M CNY57.1M CNY15.5M CNY
Comprehensive income attributable to Full Truck Alliance Co. Ltd.3.9B CNY3.4B CNY2.6B CNY
Comprehensive income attributable to ordinary shareholders3.9B CNY3.4B CNY2.6B CNY
Value added tax on revenue4.7B CNY5.1B CNY4.2B CNY
Value added tax expenses net of government grants3.3B CNY3.9B CNY3.1B CNY

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Leadership

Who has led Full Truck Alliance Co. Ltd., and when. Pick a name to see everywhere that person has worked.

Board members and other officers (7)

Timeline

  1. Dec 27, 2017Founded Full Truck Alliance Co. Ltd. is founded2

Filings

90 filings to the SEC since October 2021: 5 annual reports, 8 insider forms, 23 large holders, 54 other. The latest 20:

  1. Aug 19, 20266-K EDGAR
  2. May 21, 2026144 EDGAR
  3. May 21, 20266-K EDGAR
  4. May 13, 2026SCHEDULE 13G/A EDGAR
  5. Apr 14, 202620-F EDGAR
  6. Mar 18, 20263 EDGAR
  7. Mar 18, 20263 EDGAR
  8. Mar 18, 20263 EDGAR
  9. Mar 18, 20263 EDGAR
  10. Mar 18, 20263 EDGAR
  11. Mar 18, 20263 EDGAR
  12. Mar 18, 20263 EDGAR
  13. Mar 18, 20263 EDGAR
  14. Mar 12, 20266-K EDGAR
  15. Feb 17, 2026SCHEDULE 13G/A EDGAR
  16. Jan 20, 20266-K EDGAR
  17. Nov 17, 20256-K EDGAR
  18. Nov 14, 2025SCHEDULE 13G/A EDGAR
  19. Nov 14, 2025SCHEDULE 13G/A EDGAR
  20. Nov 6, 2025SCHEDULE 13G EDGAR

The 90 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
First Beijing Investment Ltd91,790,875$745.3M30.5%+1,789,980
Invesco Ltd.62,128,513$504.5M0.0%+2,067,672
FIL Ltd60,524,375$491.5M0.4%−2,687,196
Greenwoods Asset Management Hong Kong Ltd.39,452,419$320.4M14.7%−1,505,100
BlackRock, Inc.32,143,971$261.0M0.0%+31,145,847
Krane Funds Advisors LLC28,352,796$230.2M8.2%−248,133
Davis Selected Advisers27,639,082$224.4M1.0%−1,124,109
Vanguard Capital Management LLC23,530,788$191.1M0.0%−359,254
Jpmorgan Chase & Co23,155,263$187.1M0.0%+1,081,406
Mitsubishi UFJ Trust & Banking Corp22,471,443$182.5M0.4%+3,160,527
All-Stars Investment Ltd21,947,164$178.2M89.5%−148,000
Alpine Investment Management Ltd17,210,388$139.7M34.0%+6,160,388
Schroder Investment Management Group13,781,521$111.9M0.1%−20,983,953
Sc Us (ttgp), Ltd.13,057,904$106.0M0.3%No change
North of South Capital LLP12,936,046$105.0M7.7%+1,817,923
Morgan Stanley10,736,456$87.2M0.0%+1,223,819
OLP CAPITAL MANAGEMENT Ltd10,716,590$87.0M21.8%−16,818,948
Goldman Sachs Group Inc10,502,067$85.3M0.0%+2,925,202
Brilliance Asset Management Ltd10,127,735$82.2M24.2%+3,605,355
Alkeon Capital Management LLC9,398,535$76.3M0.3%+500,000
Norges Bank9,160,250$74.4M0.0%New
Empower Harvest Management Services, Inc.8,970,263$72.8M100.0%No change
State Street Corp8,310,044$67.5M0.0%+6,776,511
UBS Group AG7,292,014$59.2M0.0%−346,560
Mondrian Investment Partners LTD6,807,609$55.3M0.9%−589,553

13F reports cover disclosed long positions in U.S. stocks only.