US Stock Market Move | The strong performance in 2024 Q4 and the full year drove Full Truck Alliance Co. Ltd. Sponsored ADR (YMM.US) stock price to surge by 12% in pre-market trading.

Before the market opened on March 5th, the stock price of the digital freight platform Full Truck Alliance Co. Ltd. Sponsored ADR group (YMM.US) surged by 12.25%, with the catalyst being the company's release of its financial report for the fourth quarter and full year of 2024. The data shows that Full Truck Alliance Co. Ltd. Sponsored ADR's annual revenue for 2024 reached 11.24 billion RMB, a year-on-year increase of 33.2%; adjusted operating profit under non-US accounting standards was 3.03 billion RMB, a significant increase of 91.9% year-on-year; and net profit for the year was approximately 4.02 billion RMB, an increase of 43.7% year-on-year. These "double-digit growth in revenue and profit" results far exceeded market expectations, reflecting the company's leading position in the digital freight sector and its profitability, becoming the core logic driving the stock price surge. The financial report shows that Full Truck Alliance Co. Ltd. Sponsored ADR's various operational data reached record highs in growth. The order fulfillment volume for the full year of 2024 reached 197 million for the first time, an increase of 24.1% year-on-year. With 2.93 million active shippers in the fourth quarter of 2024, it also set a new historical high, indicating a continuous increase in user scale. The significant increase in stock price reflects a reevaluation of the growth logic of Full Truck Alliance Co. Ltd. Sponsored ADR by the market. Previously, impacted by the fluctuation of Chinese concept stocks and concerns about industry competition, the company's price-to-earnings ratio (TTM) once fell below 15 times, significantly lower than the global average level of logistics technology platforms. However, this financial report validates the sustainability of its profit model: in the context of macroeconomic pressure, the acceleration of the digital transformation in the logistics industry, Full Truck Alliance Co. Ltd. Sponsored ADR, as a platform-type enterprise, demonstrates strong counter-cyclical properties. In the fourth quarter, major institutions significantly increased their holdings in Full Truck Alliance Co. Ltd. Sponsored ADR, including the Norwegian Government Pension Fund (one of the world's largest sovereign wealth funds), Fidelity International, First Beijing, JP Morgan, BlackRock, Inc., and other large long-term institutions. These institutions are either long-term shareholders of Full Truck Alliance Co. Ltd. Sponsored ADR, or new funds that have significantly increased their positions after in-depth research, further confirming the market's high recognition of the long-term investment value of Full Truck Alliance Co. Ltd. Sponsored ADR. Additionally, Full Truck Alliance Co. Ltd. Sponsored ADR announced the implementation of a semi-annual cash dividend policy starting from 2025, with an estimated total dividend of approximately 200 million US dollars in 2025. Furthermore, the company has extended its buyback program originally scheduled to expire on March 12, 2025, to March 12, 2026, with a buyback amount of 2 billion US dollars.