Full Truck Alliance Co. Ltd. Announces Second Quarter 2024 Unaudited Financial Results
Full Truck Alliance Co. (NYSE: YMM) reported strong Q2 2024 financial results. Key highlights include:
- Total net revenues increased 34.1% YoY to RMB2,764.3 million (US$380.4 million)
- Net income rose 38.0% YoY to RMB840.5 million (US$115.7 million)
- Non-GAAP adjusted net income grew 34.3% YoY to RMB970.9 million (US$133.6 million)
- Fulfilled orders reached 49.1 million, up 22.0% YoY
- Average shipper MAUs increased 32.8% YoY to 2.65 million
The company saw significant growth in its transaction service revenues, up 63.4% YoY. FTA expects Q3 2024 revenues between RMB2.76-2.82 billion, representing 21.9-24.6% YoY growth.
Full Truck Alliance Co. (NYSE: YMM) ha riportato risultati finanziari solidi per il secondo trimestre 2024. I punti salienti includono:
- Le entrate nette totali sono aumentate del 34,1% rispetto all'anno precedente, raggiungendo RMB2.764,3 milioni (US$380,4 milioni)
- Il reddito netto è cresciuto del 38,0% rispetto all'anno precedente, toccando RMB840,5 milioni (US$115,7 milioni)
- Il reddito netto rettificato non-GAAP è aumentato del 34,3% su base annua, raggiungendo RMB970,9 milioni (US$133,6 milioni)
- Gli ordini evasi hanno raggiunto 49,1 milioni, con un incremento del 22,0% su base annua
- Gli utenti mensili attivi medi dei mittenti sono cresciuti del 32,8% su base annua, arrivando a 2,65 milioni
L'azienda ha registrato una crescita significativa nei ricavi dei servizi di transazione, aumentati del 63,4% su base annua. FTA prevede ricavi tra RMB2,76-2,82 miliardi per il terzo trimestre 2024, pari a una crescita del 21,9-24,6% rispetto all'anno passato.
Full Truck Alliance Co. (NYSE: YMM) reportó resultados financieros sólidos para el segundo trimestre de 2024. Los puntos destacados incluyen:
- Los ingresos netos totales aumentaron un 34,1 % interanual a RMB2,764.3 millones (US$380.4 millones)
- El ingreso neto creció un 38,0 % interanual a RMB840.5 millones (US$115.7 millones)
- El ingreso neto ajustado no-GAAP aumentó un 34,3 % interanual a RMB970.9 millones (US$133.6 millones)
- Los pedidos cumplidos alcanzaron los 49.1 millones, un incremento del 22,0 % interanual
- Los MAUs promedio de los remitentes aumentaron un 32,8 % interanual a 2.65 millones
La empresa vio un crecimiento significativo en sus ingresos por servicios de transacción, que aumentaron un 63,4 % interanual. FTA espera ingresos para el tercer trimestre de 2024 entre RMB2,76-2,82 mil millones, lo que representa un crecimiento del 21,9-24,6 % interanual.
풀 트럭 얼라이언스 주식회사 (NYSE: YMM)가 2024년 2분기 재무 실적을 발표했습니다. 주요 하이라이트는 다음과 같습니다:
- 총 순매출이 전년 대비 34.1% 증가하여 RMB2,764.3 백만 (US$380.4 백만)에 도달했습니다.
- 순이익이 전년 대비 38.0% 증가하여 RMB840.5 백만 (US$115.7 백만)으로 증가했습니다.
- 비GAAP 조정 순이익이 전년 대비 34.3% 증가하여 RMB970.9 백만 (US$133.6 백만)에 도달했습니다.
- 이행된 주문 수는 4910만 건에 도달하여 전년 대비 22.0% 증가했습니다.
- 평균 화주 월활성사용자(MAU)가 전년 대비 32.8% 증가하여 265만 명에 이릅니다.
회사는 거래 서비스 수익에서 63.4%의 중요한 성장을 보았습니다. FTA는 2024년 3분기 수익을 RMB2.76-2.82억 사이로 예상하며, 이는 전년 대비 21.9-24.6%의 성장률을 의미합니다.
Full Truck Alliance Co. (NYSE: YMM) a annoncé de solides résultats financiers pour le 2ème trimestre 2024. Les points forts incluent :
- Les revenus nets totaux ont augmenté de 34,1 % par rapport à l'année précédente pour atteindre RMB2,764.3 millions (US$380.4 millions)
- Le revenu net a augmenté de 38,0 % par rapport à l'année précédente, atteignant RMB840.5 millions (US$115.7 millions)
- Le revenu net ajusté non-GAAP a crû de 34,3 % en glissement annuel pour atteindre RMB970.9 millions (US$133.6 millions)
- Les commandes traitées ont atteint 49,1 millions, en hausse de 22,0 % par rapport à l'année précédente
- Les utilisateurs actifs mensuels moyens des expéditeurs ont augmenté de 32,8 % par rapport à l'année précédente pour atteindre 2,65 millions
L'entreprise a connu une croissance significative de ses revenus de services de transaction, en hausse de 63,4 % par rapport à l'année précédente. FTA prévoit des revenus pour le 3ème trimestre 2024 entre RMB2,76 et 2,82 milliards, représentant une croissance de 21,9 à 24,6 % par rapport à l'année précédente.
Full Truck Alliance Co. (NYSE: YMM) hat solide Finanzergebnisse für das 2. Quartal 2024 veröffentlicht. Zu den wichtigsten Punkten gehören:
- Die gesamten Nettoumsätze stiegen im Vergleich zum Vorjahr um 34,1 % auf RMB2.764,3 Millionen (US$380,4 Millionen)
- Der Nettogewinn stieg im Vergleich zum Vorjahr um 38,0 % auf RMB840,5 Millionen (US$115,7 Millionen)
- Der bereinigte Nettogewinn nach non-GAAP stieg um 34,3 % im Vergleich zum Vorjahr auf RMB970,9 Millionen (US$133,6 Millionen)
- Erfüllte Bestellungen erreichten 49,1 Millionen, ein Anstieg von 22,0 % im Vergleich zum Vorjahr
- Die durchschnittlichen monatlichen aktiven Nutzer (MAUs) der Versender stiegen um 32,8 % im Vergleich zum Vorjahr auf 2,65 Millionen
Das Unternehmen verzeichnete ein erhebliches Wachstum der Einnahmen aus Transaktionsdiensten, das um 63,4 % im Vergleich zum Vorjahr stieg. FTA erwartet, dass die Einnahmen im 3. Quartal 2024 zwischen RMB2,76 und 2,82 Milliarden liegen und einen Anstieg von 21,9 bis 24,6 % im Vergleich zum Vorjahr darstellen.
- Total net revenues increased 34.1% year-over-year to RMB2,764.3 million
- Net income rose 38.0% year-over-year to RMB840.5 million
- Non-GAAP adjusted net income grew 34.3% year-over-year to RMB970.9 million
- Fulfilled orders increased 22.0% year-over-year to 49.1 million
- Average shipper MAUs grew 32.8% year-over-year to 2.65 million
- Transaction service revenues increased 63.4% year-over-year
- Q3 2024 revenue guidance suggests continued strong growth of 21.9% to 24.6% year-over-year
- Non-performing loan ratio increased slightly to 2.1% from 2.0% as of December 31, 2023
Insights
Full Truck Alliance's Q2 2024 results show strong growth across key metrics. Total net revenues increased
The company's user base expansion is noteworthy, with average shipper MAUs up
While the results are positive, investors should monitor the slight increase in the non-performing loan ratio to
FTA's Q2 results highlight the company's successful digital transformation of the freight industry. The significant growth in transaction service revenues (
The company's investment in technology infrastructure is evident from the increased R&D expenses. This focus on innovation is important for maintaining their competitive edge in the digital freight market. The growth in average shipper MAUs and fulfilled orders indicates that these technological investments are paying off in terms of user acquisition and retention.
Looking ahead, FTA's continued emphasis on user-centric product development and infrastructure enhancement for their truck-cargo matching system should further solidify their market position. However, they must stay vigilant in cybersecurity and data privacy to maintain user trust in this rapidly evolving digital landscape.
FTA's Q2 performance demonstrates its resilience in face of macroeconomic challenges and extreme weather conditions. The company's ability to grow its user base and increase order fulfillment despite these headwinds is commendable. This suggests a strong market position and effective adaptation to changing conditions.
The rapid growth in transaction service revenue (
However, the slight increase in non-performing loan ratio to
Second Quarter 2024 Financial and Operational Highlights
- Total net revenues in the second quarter of 2024 were
RMB2,764.3 million (US ), an increase of$380.4 million 34.1% fromRMB2,062.0 million in the same period of 2023. - Net income in the second quarter of 2024 was
RMB840.5 million (US ), an increase of$115.7 million 38.0% fromRMB609.0 million in the same period of 2023. - Non-GAAP adjusted net income[1] in the second quarter of 2024 was
RMB970.9 million (US ), an increase of$133.6 million 34.3% fromRMB722.7 million in the same period of 2023. - Fulfilled orders[2]in the second quarter of 2024 reached 49.1 million, an increase of
22.0% from 40.2 million in the same period of 2023. - Average shipper MAUs[3] in the second quarter of 2024 reached 2.65 million, an increase of
32.8% from 2.00 million in the same period of 2023.
Mr. Peter Hui Zhang, Founder, Chairman and Chief Executive Officer of FTA, commented, "We are pleased to see our team's unwavering commitment to user centricity in the first half of 2024 despite pressure from macroeconomic challenges and extreme weather conditions. In the second quarter, we made steady progress across the board and delivered a strong operational and financial performance. Focusing on the core of our product and business from the user's perspective has empowered consistent execution excellence. As a result, our shipper-user scale reached an all-time high. Meanwhile, we enhanced the infrastructure serving our truck-cargo matching system, driving continuous order structure improvement and a steady increase in fulfillment rate. As we move into the second half of the year, we are confident of achieving progress in various businesses and maintaining growth in both scale and profits."
Mr. Simon Cai, Chief Financial Officer of FTA, added, "We delivered another set of robust financial results in the second quarter with growth in both top line and bottom line. Total net revenues increased by
[1] Non-GAAP adjusted net income is defined as net income excluding (i) share-based compensation expense; (ii) amortization of intangible assets resulting from business acquisitions; (iii) compensation cost incurred in relation to acquisitions; and (iv) tax effects of non-GAAP adjustments. See "Use of Non-GAAP Financial Measures" and "Reconciliations of GAAP and Non-GAAP Results" at the end of this press release. |
[2] Fulfilled orders on our platform in a given period are defined as all shipping orders matched through our platform during such period but exclude (i) shipping orders that are subsequently canceled and (ii) shipping orders for which our users failed to specify any freight prices, as there are substantial uncertainties as to whether such shipping orders are fulfilled. |
[3] Average shipper MAUs in a given period are calculated by dividing (i) the sum of shipper MAUs for each month of a given period by (ii) the number of months in a given period. Shipper MAUs are defined as the number of active shippers on our platform in a given month. Active shippers are defined as the aggregate number of registered shipper accounts that have posted at least one shipping order on our platform during a given period. |
Second Quarter 2024 Financial Results
Net Revenues (including value added taxes, or "VAT," of
Freight matching services. Revenues from freight matching services in the second quarter of 2024 were
- Freight brokerage service. Revenues from freight brokerage service in the second quarter of 2024 were
RMB1,164.8 million (US ), an increase of$160.3 million 22.7% fromRMB948.9 million in the same period of 2023, primarily attributable to an increase in transaction volume due to the continued growth in user demand. - Freight listing service. Revenues from freight listing service in the second quarter of 2024 were
RMB212.1 million (US ), an increase of$29.2 million 5.6% fromRMB200.8 million in the same period of 2023, primarily due to a growing number of total paying members. - Transaction service.[4] Revenues from transaction service amounted to
RMB951 .9 million (US .0 million) in the second quarter of 2024, an increase of$131 63.4% fromRMB582 .5 million in the same period of 2023, primarily driven by an increase in order volume, penetration rate, and the per-order transaction service fee.
Value-added services. Revenues from value-added services in the second quarter of 2024 were
Cost of Revenues (including VAT net of government grants of
Sales and Marketing Expenses. Sales and marketing expenses in the second quarter of 2024 were
General and Administrative Expenses. General and administrative expenses in the second quarter of 2024 were
Research and Development Expenses. Research and development expenses in the second quarter of 2024 were
Income from Operations. Income from operations in the second quarter of 2024 was
Non-GAAP Adjusted Operating Income.[5] Non-GAAP adjusted operating income in the second quarter of 2024 was
Net Income. Net income in the second quarter of 2024 was
Non-GAAP Adjusted Net Income. Non-GAAP adjusted net income in the second quarter of 2024 was
Basic and Diluted Net Income per ADS[6] and Non-GAAP Adjusted Basic and Diluted Net Income per ADS.[7] Basic and diluted net income per ADS were
Balance Sheet and Cash Flow
As of June 30, 2024, the Company had cash and cash equivalents, restricted cash, short-term investments, long-term time deposits and wealth management products with maturities over one year of
As of June 30, 2024, the total outstanding balance of on-balance sheet loans, consisting of the total principal amounts and all accrued and unpaid interests of the loans funded through our small loan company, reduced by an allowance for estimated losses, was
In the second quarter of 2024, net cash provided by operating activities was
[4] Effective January 1, 2024, we have renamed our "Transaction commission" revenue stream as "Transaction service," which consists of all monetization from truckers related to our freight matching service, including the revenue generated from our intra-city business, which was previously classified under "Freight listing service" and "Value-added services." The comparative periods have been restated to conform to this presentation by reclassifying |
[5] Non-GAAP adjusted operating income is defined as income from operations excluding (i) share-based compensation expense; (ii) amortization of intangible assets resulting from business acquisitions; and (iii) compensation cost incurred in relation to acquisitions. See "Use of Non-GAAP Financial Measures" and "Reconciliations of GAAP and Non-GAAP Results" at the end of this press release. |
[6] ADS refers to American depositary shares, each of which represents 20 Class A ordinary shares. |
[7] Non-GAAP adjusted basic and diluted net income per ADS is net income attributable to ordinary shareholders excluding (i) share-based compensation expense; (ii) amortization of intangible assets resulting from business acquisitions; (iii) compensation cost incurred in relation to acquisitions; and (iv) tax effects of non-GAAP adjustments, divided by weighted average number of basic and diluted ADSs, respectively. For more information, refer to "Use of Non-GAAP Financial Measures" and "Reconciliations of GAAP and Non-GAAP Results" at the end of this press release. |
[8] Non-performing loan ratio is calculated by dividing the outstanding principal and all accrued and unpaid interests of the on-balance sheet loans that were over 90 calendar days past due (excluding loans that are over 180 days past due and are therefore charged off) by the total outstanding principal and all accrued and unpaid interests of the on-balance sheet loans (excluding loans that are over 180 days past due and are therefore charged off) reduced by an allowance for estimated losses as of a specified date. |
Business Outlook
The Company expects its total net revenues to be between
Exchange Rate Information
This announcement contains translations of certain RMB amounts into
Conference Call
The Company's management will hold an earnings conference call at 8:00 A.M.
For participants who wish to join the conference using dial-in numbers, please complete online registration using the link provided below prior to the scheduled call start time.
Participant Online Registration:
https://dpregister.com/sreg/10191169/fd24d80cfd
Upon registration, each participant will receive details for the conference call, including dial-in numbers, passcode and a unique access PIN. To join the conference, please dial the provided number, enter the passcode followed by your PIN, and you will join the conference.
The replay will be accessible through August 28, 2024, by dialing the following numbers:
United States: | +1-877-344-7529 |
International: | +1-412-317-0088 |
Replay Access Code: | 6781695 |
A live and archived webcast of the conference call will also be available on the Company's investor relations website at ir.fulltruckalliance.com.
About Full Truck Alliance Co. Ltd.
Full Truck Alliance Co. Ltd. (NYSE: YMM) is a leading digital freight platform connecting shippers with truckers to facilitate shipments across distance ranges, cargo weights and types. The Company provides a range of freight matching services, including freight listing, freight brokerage and online transaction services. The Company also provides a range of value-added services that cater to the various needs of shippers and truckers, such as financial institutions, highway authorities, and gas station operators. With a mission to make logistics smarter, the Company is shaping the future of logistics with technology and aspires to revolutionize logistics, improve efficiency across the value chain and reduce its carbon footprint for our planet. For more information, please visit ir.fulltruckalliance.com.
Use of Non-GAAP Financial Measures
The Company uses non-GAAP adjusted operating income, non-GAAP adjusted net income, non-GAAP adjusted net income attributable to ordinary shareholders, non-GAAP adjusted basic and diluted net income per share and non-GAAP adjusted basic and diluted net income per ADS, each a non-GAAP financial measure, as supplemental measures to review and assess its operating performance.
The presentation of non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with
The non-GAAP financial measures are not defined under
The Company reconciles the non-GAAP financial measures to the nearest
For more information on these non-GAAP financial measures, please see the table captioned "Reconciliations of GAAP and Non-GAAP Results" set forth at the end of this release.
Safe Harbor Statement
This press release contains statements that may constitute "forward-looking" statements which are made pursuant to the "safe harbor" provisions of the
For investor and media inquiries, please contact:
In
Full Truck Alliance Co. Ltd.
Mao Mao
E-mail: IR@amh-group.com
Piacente Financial Communications
Hui Fan
Tel: +86-10-6508-0677
E-mail: FTA@thepiacentegroup.com
In
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: FTA@thepiacentegroup.com
FULL TRUCK ALLIANCE CO. LTD. | |||||
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS | |||||
(All amounts in thousands, except share, ADS, per share and per ADS data) | |||||
As of | |||||
December 31, | June 30, | June 30, | |||
2023 | 2024 | 2024 | |||
RMB | RMB | US$ | |||
ASSETS | |||||
Current assets: | |||||
Cash and cash equivalents | 6,770,895 | 5,135,376 | 706,651 | ||
Restricted cash – current | 115,513 | 100,763 | 13,865 | ||
Short-term investments | 11,516,304 | 11,552,755 | 1,589,712 | ||
Accounts receivable, net | 23,418 | 27,378 | 3,767 | ||
Loans receivable, net | 3,521,072 | 3,997,137 | 550,024 | ||
Prepayments and other current assets | 2,049,780 | 2,376,943 | 327,079 | ||
Total current assets | 23,996,982 | 23,190,352 | 3,191,098 | ||
Restricted cash – non-current | 10,000 | 20,000 | 2,752 | ||
Long-term investments[1] | 11,075,739 | 12,007,362 | 1,652,268 | ||
Property and equipment, net | 194,576 | 236,282 | 32,513 | ||
Intangible assets, net | 449,904 | 421,875 | 58,052 | ||
Goodwill | 3,124,828 | 3,124,828 | 429,991 | ||
Deferred tax assets | 149,081 | 185,000 | 25,457 | ||
Operating lease right-of-use assets and land use rights | 134,867 | 134,986 | 18,575 | ||
Other non-current assets | 211,670 | 277,633 | 38,204 | ||
Total non-current assets | 15,350,665 | 16,407,966 | 2,257,812 | ||
TOTAL ASSETS | 39,347,647 | 39,598,318 | 5,448,910 | ||
LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY | |||||
Current liabilities: | |||||
Accounts payable | 25,220 | 32,656 | 4,494 | ||
Prepaid for freight listing fees and other service fees | 548,917 | 600,993 | 82,699 | ||
Income tax payable | 154,916 | 276,578 | 38,058 | ||
Other tax payable | 784,617 | 878,786 | 120,925 | ||
Operating lease liabilities – current | 37,758 | 42,846 | 5,896 | ||
Dividends payable | — | 16,806 | 2,313 | ||
Accrued expenses and other current liabilities | 1,723,245 | 1,493,252 | 205,478 | ||
Total current liabilities | 3,274,673 | 3,341,917 | 459,863 | ||
Deferred tax liabilities | 108,591 | 102,080 | 14,047 | ||
Operating lease liabilities – non-current | 46,709 | 40,394 | 5,558 | ||
Other non-current liabilities | 22,950 | 17,229 | 2,371 | ||
Total non-current liabilities | 178,250 | 159,703 | 21,976 | ||
TOTAL LIABILITIES | 3,452,923 | 3,501,620 | 481,839 | ||
MEZZANINE EQUITY | |||||
Redeemable non-controlling interests | 277,420 | 389,099 | 53,542 | ||
SHAREHOLDERS' EQUITY | |||||
Ordinary shares | 1,371 | 1,341 | 185 | ||
Treasury stock, at cost | (608,117) | — | — | ||
Additional paid-in capital | 47,713,985 | 45,699,371 | 6,288,443 | ||
Accumulated other comprehensive income | 2,897,871 | 3,031,806 | 417,190 | ||
Accumulated deficit | (14,400,604) | (13,036,601) | (1,793,896) | ||
TOTAL FULL TRUCK ALLIANCE CO. LTD. EQUITY | 35,604,506 | 35,695,917 | 4,911,922 | ||
Non-controlling interests | 12,798 | 11,682 | 1,607 | ||
TOTAL SHAREHOLDERS' EQUITY | 35,617,304 | 35,707,599 | 4,913,529 | ||
TOTAL LIABILITIES, MEZZANINE EQUITY AND EQUITY | 39,347,647 | 39,598,318 | 5,448,910 | ||
1. The Group's long-term investments consist of |
FULL TRUCK ALLIANCE CO. LTD. | |||||||||||||
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME | |||||||||||||
(All amounts in thousands, except share, ADS, per share and per ADS data) | |||||||||||||
Three months ended | Six months ended | ||||||||||||
June 30, | March 31, | June 30, | June 30, | June 30, | June 30, | June 30, | |||||||
2023 | 2024 | 2024 | 2024 | 2023 | 2024 | 2024 | |||||||
RMB | RMB | RMB | US$ | RMB | RMB | US$ | |||||||
Net revenues (including value added taxes, | |||||||||||||
"VAT", of | |||||||||||||
ended June 30, 2023 and 2024, | |||||||||||||
respectively) | 2,062,028 | 2,268,713 | 2,764,283 | 380,379 | 3,764,285 | 5,032,996 | 692,562 | ||||||
Operating expenses: | |||||||||||||
Cost of revenues (including VAT net of | |||||||||||||
government grants, of | |||||||||||||
million and | |||||||||||||
three months ended June 30, 2023 | |||||||||||||
and 2024, respectively)(1) | (975,269) | (1,031,888) | (1,312,072) | (180,547) | (1,824,642) | (2,343,960) | (322,540) | ||||||
Sales and marketing expenses(1) | (281,772) | (340,147) | (372,288) | (51,229) | (527,449) | (712,435) | (98,034) | ||||||
General and administrative expenses(1) | (201,711) | (264,467) | (219,157) | (30,157) | (381,218) | (483,624) | (66,549) | ||||||
Research and development expenses(1) | (223,696) | (247,708) | (232,140) | (31,944) | (453,575) | (479,848) | (66,029) | ||||||
Provision for loans receivable | (51,146) | (80,324) | (71,057) | (9,778) | (104,024) | (151,381) | (20,831) | ||||||
Total operating expenses | (1,733,594) | (1,964,534) | (2,206,714) | (303,655) | (3,290,908) | (4,171,248) | (573,983) | ||||||
Other operating income | 5,355 | 8,010 | 7,798 | 1,073 | 26,176 | 15,808 | 2,175 | ||||||
Income from operations | 333,789 | 312,189 | 565,367 | 77,797 | 499,553 | 877,556 | 120,754 | ||||||
Other income (expense) | |||||||||||||
Interest income | 285,461 | 315,363 | 305,337 | 42,016 | 531,575 | 620,700 | 85,411 | ||||||
Foreign exchange gain | 272 | 417 | 6,306 | 868 | 175 | 6,723 | 925 | ||||||
Investment income | 4,471 | 18,484 | 18,697 | 2,573 | 7,184 | 37,181 | 5,116 | ||||||
Unrealized gains (losses) from fair | |||||||||||||
value changes of investments and | |||||||||||||
derivative assets | 8,268 | (7,388) | (4,522) | (622) | 18,229 | (11,910) | (1,639) | ||||||
Other income, net | 4,259 | 2,070 | 1,395 | 192 | 10,922 | 3,465 | 477 | ||||||
Share of loss in equity method investees | (696) | (48) | (882) | (121) | (1,006) | (930) | (128) | ||||||
Total other income | 302,035 | 328,898 | 326,331 | 44,906 | 567,079 | 655,229 | 90,162 | ||||||
Net income before income tax | 635,824 | 641,087 | 891,698 | 122,703 | 1,066,632 | 1,532,785 | 210,916 | ||||||
Income tax expense | (26,832) | (54,720) | (51,190) | (7,044) | (46,212) | (105,910) | (14,574) | ||||||
Net income | 608,992 | 586,367 | 840,508 | 115,659 | 1,020,420 | 1,426,875 | 196,342 | ||||||
Less: net income (loss) attributable to | |||||||||||||
non-controlling interests | 14 | (549) | (568) | (78) | 14 | (1,117) | (154) | ||||||
Less: measurement adjustment | |||||||||||||
attributable to redeemable non- | |||||||||||||
controlling interests | 3,441 | 5,744 | 17,942 | 2,469 | 5,960 | 23,686 | 3,259 | ||||||
Net income attributable to | |||||||||||||
ordinary shareholders | 605,537 | 581,172 | 823,134 | 113,268 | 1,014,446 | 1,404,306 | 193,237 |
FULL TRUCK ALLIANCE CO. LTD. | |||||||||||||
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME (CONTINUED) | |||||||||||||
(All amounts in thousands, except share, ADS, per share and per ADS data) | |||||||||||||
Three months ended | Six months ended | ||||||||||||
June 30, | March 31, | June 30, | June 30, | June 30, | June 30, | June 30, | |||||||
2023 | 2024 | 2024 | 2024 | 2023 | 2024 | 2024 | |||||||
RMB | RMB | RMB | US$ | RMB | RMB | US$ | |||||||
Net income per ordinary | |||||||||||||
share | |||||||||||||
—Basic | 0.03 | 0.03 | 0.04 | 0.01 | 0.05 | 0.07 | 0.01 | ||||||
—Diluted | 0.03 | 0.03 | 0.04 | 0.01 | 0.05 | 0.07 | 0.01 | ||||||
Net income per ADS* | |||||||||||||
—Basic | 0.57 | 0.56 | 0.79 | 0.11 | 0.96 | 1.35 | 0.19 | ||||||
—Diluted | 0.57 | 0.56 | 0.79 | 0.11 | 0.95 | 1.34 | 0.18 | ||||||
Weighted average number | |||||||||||||
of ordinary shares used | |||||||||||||
in computing net | |||||||||||||
income per share | |||||||||||||
—Basic | 21,177,034,098 | 20,864,118,097 | 20,805,892,860 | 20,805,892,860 | 21,234,910,577 | 20,834,974,344 | 20,834,974,344 | ||||||
—Diluted | 21,218,841,485 | 20,904,689,303 | 20,905,548,181 | 20,905,548,181 | 21,285,276,797 | 20,905,238,796 | 20,905,238,796 | ||||||
Weighted average number | |||||||||||||
of ADS used in | |||||||||||||
computing net | |||||||||||||
income per ADS | |||||||||||||
—Basic | 1,058,851,705 | 1,043,205,905 | 1,040,294,643 | 1,040,294,643 | 1,061,745,529 | 1,041,748,717 | 1,041,748,717 | ||||||
—Diluted | 1,060,942,074 | 1,045,234,465 | 1,045,277,409 | 1,045,277,409 | 1,064,263,840 | 1,045,261,940 | 1,045,261,940 | ||||||
* Each ADS represents 20 ordinary shares. | |||||||||||||
(1) Share-based compensation expense in operating expenses are as follows: | |||||||||||||
Three months ended | Six months ended | ||||||||||||
June 30, | March 31, | June 30, | June 30, | June 30, | June 30, | June 30, | |||||||
2023 | 2024 | 2024 | 2024 | 2023 | 2024 | 2024 | |||||||
RMB | RMB | RMB | US$ | RMB | RMB | US$ | |||||||
Cost of revenues | 1,381 | 2,744 | 2,734 | 376 | 3,187 | 5,478 | 754 | ||||||
Sales and marketing | |||||||||||||
expenses | 13,075 | 10,685 | 12,875 | 1,772 | 24,272 | 23,560 | 3,242 | ||||||
General and administrative | |||||||||||||
expenses | 68,124 | 119,543 | 79,197 | 10,898 | 126,965 | 198,740 | 27,348 | ||||||
Research and development | |||||||||||||
expenses | 17,046 | 22,984 | 21,495 | 2,958 | 34,528 | 44,479 | 6,121 | ||||||
Total | 99,626 | 155,956 | 116,301 | 16,004 | 188,952 | 272,257 | 37,465 |
FULL TRUCK ALLIANCE CO. LTD. | |||||||||||||
RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS | |||||||||||||
(All amounts in thousands, except share, ADS, per share and per ADS data) | |||||||||||||
Three months ended | Six months ended | ||||||||||||
June 30, | March 31, | June 30, | June 30, | June 30, | June 30, | June 30, | |||||||
2023 | 2024 | 2024 | 2024 | 2023 | 2024 | 2024 | |||||||
RMB | RMB | RMB | US$ | RMB | RMB | US$ | |||||||
Income from operations | 333,789 | 312,189 | 565,367 | 77,797 | 499,553 | 877,556 | 120,754 | ||||||
Add: | |||||||||||||
Share-based | |||||||||||||
compensation | |||||||||||||
expense | 99,626 | 155,956 | 116,301 | 16,004 | 188,952 | 272,257 | 37,465 | ||||||
Amortization of | |||||||||||||
intangible assets | |||||||||||||
resulting from | |||||||||||||
business acquisitions | 13,021 | 13,021 | 13,021 | 1,792 | 26,042 | 26,042 | 3,583 | ||||||
Compensation cost | |||||||||||||
incurred in relation | |||||||||||||
to acquisitions | 4,281 | 4,281 | 4,281 | 589 | 8,562 | 8,562 | 1,178 | ||||||
Non-GAAP adjusted | |||||||||||||
operating income | 450,717 | 485,447 | 698,970 | 96,182 | 723,109 | 1,184,417 | 162,980 | ||||||
Net income | 608,992 | 586,367 | 840,508 | 115,659 | 1,020,420 | 1,426,875 | 196,342 | ||||||
Add: | |||||||||||||
Share-based | |||||||||||||
compensation | |||||||||||||
expense | 99,626 | 155,956 | 116,301 | 16,004 | 188,952 | 272,257 | 37,465 | ||||||
Amortization of | |||||||||||||
intangible assets | |||||||||||||
resulting from | |||||||||||||
business acquisitions | 13,021 | 13,021 | 13,021 | 1,792 | 26,042 | 26,042 | 3,583 | ||||||
Compensation cost | |||||||||||||
incurred in relation | |||||||||||||
to acquisitions | 4,281 | 4,281 | 4,281 | 589 | 8,562 | 8,562 | 1,178 | ||||||
Tax effects of | |||||||||||||
non-GAAP | |||||||||||||
adjustments | (3,255) | (3,255) | (3,255) | (448) | (6,510) | (6,510) | (896) | ||||||
Non-GAAP adjusted net | |||||||||||||
income | 722,665 | 756,370 | 970,856 | 133,596 | 1,237,466 | 1,727,226 | 237,672 |
FULL TRUCK ALLIANCE CO. LTD. | |||||||||||||
RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS (CONTINUED) | |||||||||||||
(All amounts in thousands, except share, ADS, per share and per ADS data) | |||||||||||||
Three months ended | Six months ended | ||||||||||||
June 30, | March 31, | June 30, | June 30, | June 30, | June 30, | June 30, | |||||||
2023 | 2024 | 2024 | 2024 | 2023 | 2024 | 2024 | |||||||
RMB | RMB | RMB | US$ | RMB | RMB | US$ | |||||||
Net income attributable | |||||||||||||
to ordinary | |||||||||||||
shareholders | 605,537 | 581,172 | 823,134 | 113,268 | 1,014,446 | 1,404,306 | 193,237 | ||||||
Add: | |||||||||||||
Share-based | |||||||||||||
compensation | |||||||||||||
expense | 99,626 | 155,956 | 116,301 | 16,004 | 188,952 | 272,257 | 37,465 | ||||||
Amortization of | |||||||||||||
intangible assets | |||||||||||||
resulting from | |||||||||||||
business acquisitions | 13,021 | 13,021 | 13,021 | 1,792 | 26,042 | 26,042 | 3,583 | ||||||
Compensation cost | |||||||||||||
incurred in relation | |||||||||||||
to acquisitions | 4,281 | 4,281 | 4,281 | 589 | 8,562 | 8,562 | 1,178 | ||||||
Tax effects of | |||||||||||||
non-GAAP | |||||||||||||
adjustments | (3,255) | (3,255) | (3,255) | (448) | (6,510) | (6,510) | (896) | ||||||
Non-GAAP adjusted net | |||||||||||||
income attributable to | |||||||||||||
ordinary shareholders | 719,210 | 751,175 | 953,482 | 131,205 | 1,231,492 | 1,704,657 | 234,567 | ||||||
Non-GAAP adjusted net | |||||||||||||
income per ordinary | |||||||||||||
share | |||||||||||||
—Basic | 0.03 | 0.04 | 0.05 | 0.01 | 0.06 | 0.08 | 0.01 | ||||||
—Diluted | 0.03 | 0.04 | 0.05 | 0.01 | 0.06 | 0.08 | 0.01 | ||||||
Non-GAAP adjusted net | |||||||||||||
income per ADS | |||||||||||||
—Basic | 0.68 | 0.72 | 0.92 | 0.13 | 1.16 | 1.64 | 0.23 | ||||||
—Diluted | 0.68 | 0.72 | 0.91 | 0.13 | 1.16 | 1.63 | 0.22 |
View original content:https://www.prnewswire.com/news-releases/full-truck-alliance-co-ltd-announces-second-quarter-2024-unaudited-financial-results-302227213.html
SOURCE Full Truck Alliance Co. Ltd.
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