Full Truck Alliance Co. Ltd. American Depositary Shares (each representing 20 - YMM STOCK NEWS

The weekly roundup of notable auto and transportation press releases highlights significant developments, including Norfolk Southern's announcement of a six-point safety plan following a tragic derailment incident. Other key stories include Dodge's launch of the Hornet, an electrified hybrid vehicle with impressive specs, and Stellantis' partnership with Vehya to install EV chargers. Additionally, Ideanomics' subsidiary is working on a hydrogen-powered gantry crane, showcasing advancements in decarbonization efforts. The report also mentions safety initiatives in the industry and car recalls that affect consumer safety.

Full Truck Alliance Co. Ltd. (NYSE: YMM) announced on March 8, 2023, that its Audit Committee has completed a substantial independent investigation regarding allegations made in the January 24, 2023, J Capital Research report. The investigation, conducted with no prior relationships to the Company, found no evidence to support claims of systematic GTV inflation or illegal transactions. The Committee concluded the report displayed a lack of understanding of the Company’s business operations. Full Truck Alliance continues to aim for smarter logistics and enhanced service delivery through its digital freight platform.

Full Truck Alliance Co. Ltd. (YMM) reported strong financial results for Q4 and FY 2022, showcasing a 34.5% revenue increase in Q4, totaling RMB1,922.5 million (US$278.7 million). For the full year, revenues grew by 44.6% to RMB6,733.6 million (US$976.3 million). Notably, Q4 net income reached RMB195.7 million (US$28.4 million), rebounding from a loss of RMB1,321.1 million in Q4 2021. Non-GAAP adjusted net income surged by 83.6% year-over-year to RMB445.8 million (US$64.6 million). Fulfilled orders in Q4 were 32.6 million, down from 34.8 million a year prior, while average shipper MAUs rose by 19.7% to 1.88 million. The company anticipates Q1 2023 revenues between RMB1.56 billion and RMB1.64 billion.

Full Truck Alliance Co. Ltd. (NYSE: YMM) will release its unaudited financial results for Q4 and fiscal year 2022 on March 8, 2023, before U.S. market opening. An earnings call will take place at 7:00 A.M. ET. The company, a leading digital freight platform, connects shippers with truckers across various distances and cargo types, offering freight matching, brokerage, and online services. With a focus on technology, it aims to enhance logistics efficiency and reduce its carbon footprint. Investors can access details via the company's investor relations website.

Socure, a leader in digital identity verification, announced its recognition on the Embedded Fintech 50 list, launched by GGV Capital and Crunchbase. This prestigious list showcases the most promising fintech companies as perceived by startup investors. With over $12 billion raised by the honorees, this recognition underscores the growth potential and innovation within the fintech sector. Socure's advanced platform utilizes machine learning and AI, ensuring accurate identity verification and fraud prevention, catering to over 1,500 customers across various industries, including major banks and fintechs.

Modern Treasury has been recognized as a top software company in the fintech sector, making the Embedded Fintech 50 list by GGV Capital and Crunchbase. This list highlights promising fintech startups identified by 57 investment firms. By raising over $12 billion, this recognition showcases the enthusiasm of investors in the fintech landscape. Modern Treasury aims to modernize payment operations, partnering with various top companies to enhance financial decision-making and improve customer experiences. The CEO, Dimitri Dadiomov, emphasized the importance of embedded fintech in transforming money movement.

Astra, a leading provider of instant payments infrastructure, has been recognized in the Embedded Fintech 50 list, highlighting its innovative solutions in the fintech sector. This recognition follows nominations by 57 investment firms, showcasing Astra's commitment to automated payment solutions. The company has facilitated over $250 million in automated transfers with a remarkable 99.997% success rate, significantly better than standard ACH rates. Astra's vertically integrated API simplifies the integration of instant payments into applications, underscoring its role in meeting evolving financial service demands. The recognition was celebrated by ringing the Nasdaq Closing Bell.

Papaya Global, a SaaS fintech firm specializing in global payroll and payments technology, has been named to the Embedded Fintech 50 list by GGV Capital and Crunchbase, recognizing it as a promising fintech startup. This accolade highlights Papaya's successful pivot from HR to a fintech platform, driven by innovations such as a partnership with JPMorgan and integration with Workday and Netsuite. Despite market volatility, the company saw strategic growth in 2022, including significant acquisitions and a robust payment network. The recognition reflects investor enthusiasm in the fintech sector, with over $12 billion raised by the participating firms.

Workstream, a platform for the deskless workforce, has been recognized in the Embedded Fintech 50 list, launched by GGV Capital and Crunchbase. This list highlights promising fintech startups, and Workstream's inclusion reflects its innovative approach in automating hiring and onboarding processes. The platform supports over 24,000 businesses, enabling rapid recruitment and efficient management of deskless employees.

The announcement coincides with an event where honorees will ring the Closing Bell at Nasdaq MarketSite, showcasing the growing interest in embedded fintech among investors, as evidenced by $12 billion raised by nominee companies.