Macquarie Hires Equinor's Ravelli as Global Head of LNG Trading
Ravelli, Equinor ASA 's vice president for Asian LNG in Singapore, will join the Australian financial giant in November, according to people with direct knowledge of the matter, who asked not to be named discussing non-public information.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
2 minutes ago
- Yahoo
Oilfield Chemicals Market Size to Surpass USD 50.24 Billion by 2034 Driven by Energy Demand and Sustainable Solutions
According to Precedence Research, the global oilfield chemicals market size is projected to surpass USD 50.24 billion by 2034, driven by rising energy demand, shale gas expansion, and sustainable solutions. Ottawa, Aug. 21, 2025 (GLOBE NEWSWIRE) -- The worldwide oilfield chemicals market size was calculated at USD 32.07 billion in 2024 and is predicted to rise from USD 33.42 billion in 2025 to around USD 50.24 billion by 2034, with a CAGR of 4.63% from 2025 to 2034. Oilfield Chemicals Market Key Highlights: In terms of revenue, the global oilfield chemicals market is expected to reach USD 34.86 billion in 2026. It is projected to exceed USD 47.94 billion by 2033. Middle East and Africa accounted for the highest market share of 39.54% in 2024. North America held the second-largest market share of 26.48% in 2024. By product, the biocides modifiers segment contributed the highest market share of 21.45% in 2024. By application, the workover and completion modifiers segment held the major market share of 50.20% in 2024 By application, the production chemicals segment is growing at a solid CAGR of 5% from 2025 to 2034. By location, the onshore segment captured the highest market share of 70.15% in 2024. Note: This report is readily available for immediate delivery. We can review it with you in a meeting to ensure data reliability and quality for Before You Buy – Get the Sample Report@ What are Oilfield Chemicals? Oilfield chemicals are chemical compounds that are specialized in the oil/gas exploration, drilling, and production. They are critical in their functionality in the petroleum activities in terms of enhancing productivity, improving efficiency, and ensuring smooth operations through petroleum activities like drilling, well stimulation, cementing, hydraulic fracturing, and the enhancement of oil recovery. Advancements in technological processes concerned with enhanced oil recovery (EOR) and the necessity of high-performance, inexpensive chemicals also contribute to the growth. Also, the increasing shale gas production, as well as the increased use of eco-friendly and biodegradable chemicals used in oilfields, facilitates market growth. Top 5 Oilfield Chemicals Manufacturers and Suppliers Sr. No. Manufacturers Highlights 1. Nouryon Nouryon focuses on specialty oilfield chemicals with a specialty in high-performance oil, as well as water-based drilling mud formulations. The products are used to address drilling performance enhancement, optimize drilling operations, and wellbore stability under various conditions to aid in oil and gas exploration. 2. Ashland Ashland Global Holdings Inc. It is a company that deals with the supply of various oilfield chemicals in onshore and offshore operational areas. As a company with a high success rate in applied chemistry, Ashland creates suitable solutions that meet the changing demands of the industry, leading to an improvement in the overall performance of the oilfield. 3. BASF SE BASF SE provides a broad range of oilfield specialty chemicals that support the optimization of oil and gas activities. Their products assist service companies to optimize the efficiency of wells, quality of production processes, and satisfy their emerging needs in the ever-changing industry, where they are also dedicated to quality, performance, and value-added operations. 4. Dow Dow manufactures oilfield chemicals, such as chelating agents and scale inhibitors, such as VERSENE, which can be found in drilling, production, and recovery operations. These solutions enhance oil recovery, help in supporting fracturing fluids, acidizing, and scale control operations, thus making the operations more efficient and effective in numerous applications in the oilfield. 5. Chevron Phillips Chemical Company LLC. Chevron Phillips Chemical has a wide portfolio of oilfield chemicals. The joint venture between Chevron and Phillips 66 is an enterprise based in Texas that specializes in providing quality, cleaner energy solutions. Their worldwide manufacturing and research sites come up with goods that can facilitate effective and resource-conservative oilfield operations anywhere in the world. Latest Trends in Oilfield Chemicals Market: Sustainability & Biodegradable Formulations The push for greener operations is driving a rise in environmentally friendly solutions, such as biodegradable corrosion inhibitors, scale inhibitors, and surfactants, designed to minimize ecological impact while maintaining performance. 2. Enhanced Oil Recovery (EOR) Demand With many oilfields maturing, EOR techniques relying on advanced surfactants, polymers, and chemical mixtures are increasingly utilized to extract more from existing reservoirs and extend their productive lives. 3. Digitalization & Smart Chemical Management Oil and gas producers are integrating digital tools such as real-time monitoring, IoT-enabled dosing systems, and data analytics platforms to optimize chemical usage, reduce waste, and enhance overall operational efficiency. 4. Deepwater & Offshore Market Expansion As exploration and production activity shifts into deeper and more challenging offshore environments, demand for high-performance chemicals (like hydrate inhibitors and corrosion-control agents) that can withstand extreme conditions continues to escalate. ➤ Oilfield Chemicals Market Opportunity: Emergence of Advanced Technologies: There are promising opportunities in the oilfield chemicals market due to the breakthrough in the oil field technologies, such as horizontal drilling, oil field fracturing, and the use of enhanced oil recovery (EOR) methods. Moreover, as more oil and gas companies are concentrated on maximizing production rates and recovery factors on the existing wells and reservoirs, the need for advanced production chemicals will keep increasing. Also, there is an increasing uptake of more environmentally friendly and biodegradable oilfield chemicals to comply with regulatory laws and sustainability targets of the industry. Oilfield Chemicals Market Challenges Stricter Regulations: The changing and tougher chemical regulations put in place by various countries are one of the main limiting factors to the oilfield chemicals market. Compliance with various national regulations involves documentation, testing, and reformation, which proves to be costly in operation and reduces product deployment. Such regulatory complexity has become a significant challenge to manufacturers and suppliers, especially within the context of the costs of finding products and cross-border trade. Scope of Oilfield Chemicals Market Report Attributes Key Statistics Market Size in 2024 USD 32.07 Billion Market Size in 2025 USD 33.42 Billion Market Size in 2031 USD 43.65 Billion Market Size by 2034 USD 50.24 Billion CAGR 2025 to 2034 4.5% Leading Region in 2024 Middle East and Africa Base Year 2024 Forecast Period 2025to 2034 Segments Covered Product, Application, Location and Region Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa Key Players Covered SMC Global, BASF SE, Solvay, BERRYMAN CHEMICAL, Thermax Limited, Oilfield Chemicals, SVS Chemical Corporation LLP, SEATEX LLC, Kemira, Hawkins, Chemiphase, SicagenChem, SAHARA Middle East Petroleum Services, Ltd., and Others. ➡️ Become a valued research partner with us ☎ Oilfield Chemicals Market Key Regional Analysis How Middle East and Africa Dominated the Oilfield Chemicals Market? The Middle East and Africa dominated the oilfield chemicals market in 2024. Saudi Arabia, Iraq, and the UAE are some of the leading oil producers in the world, and their output level always remains high, a factor that necessitates high quantities of oilfield chemicals. The chemicals are essential in maximising the efficiency of the production, ensuring well integrity, and solutions to operational issues such as corrosion, scale, and wax deposition. Investment in strategic projects and technology relationships, and the emphasis on better production rates and lengthening the lifetime of mature fields, also serve to enhance the dominance in the region. Why is North America the Fastest-Growing market in the Oilfield Chemicals Market? North America experiences the fastest growth in the market during the forecast period. Advanced hydraulic fracturing and horizontal drilling have created a drastic increase in shale gas and tight oil production in the region, and especially in the United States. In the U.S., there is also a growth in exploration and production activities in the energy sector, as enabled by government policies and investment by several privately owned enterprises. North America's oilfield operations, due to their innovation and resource endowment, make it the fastest-growing regional market for oilfield chemicals. Oilfield Chemicals Market Segmentation Analysis: Product Analysis: Why did the Biocides Segment Dominate the Oilfield Chemicals Market? The biocides segment dominated the oilfield chemicals market in 2024, owing to the critical functions of such chemicals in preventing certain microbes in the course of drilling, hydraulic fracturing, and production processes. Increased focus on sustainable operations led to the development of eco-friendly, biodegradable formulations of biocides to comply with items requirements in the environment. Further, the development of monitoring/control technologies has made it more appropriate to identify and control microbiological problems more effectively and optimally utilize chemicals. Application Analysis: Which Application Segment Held the Largest Share of the Oilfield Chemicals Market? The workover and completion segment held the largest share in the oilfield chemicals market in 2024. Workover and completion are diverse intervention processes that entail well cleaning, perforating, stimulation, and repairs, among others, which are intended to enhance efficient production and proper functioning of wells. The idea of increasing the lifespan of the mature wells and the maximization of already existing reservoirs strengthens the dominance of this segment. The combination of these factors, together with the advancement in chemical formulations geared to complex interventions. The production chemicals segment experiences the fastest growth in the market during the forecast period, driven by the increase in the desire to maximize the efficiency of oil and gas production. The chemicals used as part of production are also known as production chemicals; they include those used as demulsifiers, corrosion inhibitors, scale inhibitors, and biocides, which are vital in ensuring that there is flow assurance, protection of infrastructure, and minimization of downtimes in the operation. The development of this sector closely relates to growing energy demand across the globe and an increase in both traditional and non-traditional production of oil and gas, especially in shale gas and tight oil plays. Global Oilfield Chemicals Market Size (USD Million) By Application, 2022 to 2024 Application 2022 2023 2024 Drilling Fluid 5,574.9 5,761.5 5,965.6 Production Chemicals 5,990.0 6,254.4 6,542.9 Cementing 3,232.2 3,342.9 3,463.9 Workover & Completion 14,856.4 15,451.2 16,100.8 Location Analysis: How the Onshore Segment Dominates the Oilfield Chemicals Market? The onshore segment dominated the oilfield chemicals market in 2024 because of the large number of new and ongoing onshore oil and gas projects in the world. Onshore activity often needs the use of chemicals like demulsifiers, corrosion inhibitors, and scale removers to guarantee the best oil recovery and productivity of the production. These chemicals have proven beneficial in achieving a quick separation rate in crude oil through the elimination of water, thereby making the downstream water treatment expensive and complicated. The growing world energy demand and the development of new technology in onshore drilling and extraction. Global Oilfield Chemicals Market Size (USD Million) By Location, 2022 to 2024 By Location 2022 2023 2024 Onshore 20,787.1 21,613.2 22,515.4 Offshore 8,866.4 9,196.8 9,557.8 ➡️ Related Topics You May Find Useful: ✚ Specialty Oilfield Chemicals Market See how advanced formulations are enhancing drilling efficiency and sustainability ✚ Oilfield Equipment Market Track investments in rigs, drilling systems, and next-gen extraction technologies ✚ Specialty Chemicals Market Discover how tailored formulations are reshaping industrial performance and innovation ✚ Paraffin Inhibitors Market Understand how wax control solutions are ensuring flow assurance in oilfields ✚ Digital Oilfield Market Explore how IoT, AI, and data analytics are redefining oil and gas operations ✚ Detergent Chemicals Market Analyze shifting consumer preferences for eco-friendly and high-performance cleaning agents ✚ Textile Chemicals Market Gain insight into how sustainability and innovation are transforming fabric processing ✚ Pharmaceutical Chemicals Market See how drug development and biotech growth are fueling chemical demand ✚ Cosmetic Chemicals Market Track rising consumer demand for safe, natural, and functional beauty ingredients ✚ Biosurfactants Market Discover how bio-based alternatives are reshaping the future of surfactants ✚ Basic Chemicals Market Understand the backbone role of bulk chemicals in industrial and consumer sectors ✚ Pine Derived Chemicals Market Explore demand growth for natural resins, adhesives, and sustainable additives ✚ Crop Protection Chemicals Market Analyze how farmers are adopting advanced solutions to boost agricultural yields ✚ Produced Water Treatment Market See how oil and gas operators manage water sustainability and regulatory compliance ✚ Oil and Gas Infrastructure Market Track investments in pipelines, storage, and energy transport networks ✚ Aroma Chemicals Market Discover how fragrances and flavors are driving growth across food, cosmetics, and wellness Oilfield Chemicals Market Leading Companies SMC Global BASF SE Solvay BERRYMAN CHEMICAL Thermax Limited Oilfield Chemicals SVS Chemical Corporation LLP SEATEX LLC Kemira Hawkins Chemiphase SicagenChem SAHARA Middle East Petroleum Services, Ltd. Recent Developments: In July 2025, Versalis Eni was introduced on the stock market, the chemical company that recently transferred to a group company called Versalis Oilfield Solutions S.r.l. The move unifies knowledge, scientific research, and activities related to strategic direction under a single unit, which increases the effectiveness of using time to improve performance and strength in the development and marketing of sophisticated chemical formulas to the oil drilling sector. In March 2024, BASF announced that it was going to increase the capacity of its Basoflux paraffin inhibitors produced at its La Canonja plant. The newly ventured investment will satisfy the growing demand for the advanced paraffin inhibitors in the oil and gas sector globally, hence it will have enhanced supply capabilities and future market growth. In February 2024, Kraton Corporation introduced a new range of bio-based hydrocarbon oils, SYLVASOLV, that provides high performance and environmental advantages. With an industrial focus such as agrochemicals, adhesives, and lubricants, SYLVASOLV fits in with the rising need for sustainability, but at the same time provides the solution of higher functionality to customers with a focus on sustainability in industry. Oilfield Chemicals Market Segments Covered in the Report By Product Demulsifiers Inhibitors Rheology Modifiers Friction Reducers Biocides Surfactants Foamers Others By Application Drilling Fluid Production Chemicals Cementing Workover & Completion By Location Onshore Offshore By Region North America Europe Asia-Pacific Latin America Middle East and Africa Thank you for reading. You can also get individual chapter-wise sections or region-wise report versions, such as Immediate Delivery Available | Buy This Premium Research Report@ You can place an order or ask any questions, please feel free to contact us at sales@ | +1 804 441 9344 Stay Ahead with Precedence Research Subscriptions Unlock exclusive access to powerful market intelligence, real-time data, and forward-looking insights, tailored to your business. From trend tracking to competitive analysis, our subscription plans keep you informed, agile, and ahead of the curve. Browse Our Subscription Plans@ About Us Precedence Research is a worldwide market research and consulting organization. We give an unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally. Web: Our Trusted Data Partners: Towards Healthcare | Towards Packaging | Towards Automotive | Towards Chem and Materials | Towards FnB | Towards Consumer Goods | Statifacts | Towards EV Solutions | Towards Dental | Nova One Advisor | Market Stats Insight Get Recent News: For the Latest Update Follow Us: LinkedIn | Medium | Facebook | Twitter ✚ Explore More Market Intelligence from Precedence Research: ➡️ Research Department Explosive Market Explore how defense modernization and mining activities are fueling demand ➡️ Composites Market Track innovation in lightweight materials transforming aerospace automotive and construction ➡️ Recycled Polyethylene Terephthalate Market See how sustainability and circular economy trends are driving rPET adoption ➡️ Textile Chemicals Market Understand how eco-friendly formulations are reshaping global fabric processing ➡️ Specialty Chemicals Market Discover how custom solutions are driving growth across multiple industries ➡️ Industrial Coatings Market Gain insights into protective coatings shaping infrastructure and manufacturing durability ➡️ Drilling Fluids Market Analyze how advanced mud systems are enhancing oil and gas drilling performance ➡️ Biomaterials Market Explore how innovations in polymers and metals are revolutionizing medical applications ➡️ Biodegradable Plastic Market Track rising demand for sustainable packaging solutions worldwide ➡️ Powder Coating Market Discover how eco-friendly finishes are boosting growth in automotive and appliances ➡️ Medical Billing Outsourcing Market See how healthcare providers are streamlining operations through outsourcing ➡️ Pressure Vessels Market Understand how energy transition and industrial demand are shaping global growth ➡️ Technical Insulation Market Analyze how efficiency and sustainability are driving demand across industries ➡️ Electric Powertrain Market Track innovation fueling the global shift toward electric mobility ➡️ Organic Electronics Market Discover how flexible and lightweight electronics are redefining consumer tech ➡️ Synthetic Leather Market See how fashion and automotive industries are embracing eco-friendly alternatives ➡️ Digital Health Market Explore how telemedicine AI and IoT are transforming healthcare delivery ➡️ Nitrile Gloves Market Understand how healthcare safety and hygiene awareness are driving global demand ➡️ Metal Fiber Market Track applications in filtration protective clothing and automotive industries ➡️ Industrial Lubricants Market Analyze how manufacturing and energy sectors are shaping lubricant innovations ➡️ Polypropylene Market Discover how packaging automotive and construction are fueling demand growth ➡️ Mixed Reality in Healthcare Market See how AR and VR tools are revolutionizing medical training and patient care ➡️ Paints and Coatings Market Track innovation in decorative and protective coatings across construction and automotive ➡️ Medical Imaging Outsourcing Market Explore how outsourcing is improving diagnostic efficiency and cost-effectiveness ➡️ E-Bike Drive Unit Market Understand how urban mobility and sustainability trends are boosting e-bike adoption ➡️ Biomarkers Market See how precision medicine and diagnostics are driving biomarker innovations ➡️ Clinical Trials Market Analyze how digitalization and global partnerships are reshaping trial operations ➡️ DNA Sequencing Market Discover how genomics and precision healthcare are fueling sequencing adoption ➡️ Cancer Diagnostics Market Explore how AI imaging and biomarker advances are transforming early detection ➡️ Medical Tubing Market Track innovations in biocompatible materials driving growth in medical devicesError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 minutes ago
- Yahoo
Global Penny Stocks Spotlight: NanJi E-Commerce And Two Other Picks
As global markets react to U.S. inflation data and interest rate cut speculation, investors are keeping a close watch on economic indicators that could influence future monetary policy decisions. In this climate, penny stocks—often smaller or newer companies—remain an intriguing area for those willing to look beyond the well-known names. While the term "penny stocks" might seem outdated, these investments can still offer compelling opportunities when backed by strong financial health and balance sheet resilience. Top 10 Penny Stocks Globally Name Share Price Market Cap Financial Health Rating Cloudpoint Technology Berhad (KLSE:CLOUDPT) MYR0.70 MYR372.12M ★★★★★★ Lever Style (SEHK:1346) HK$1.63 HK$1.01B ★★★★★★ GTN (ASX:GTN) A$0.39 A$75.31M ★★★★★★ TK Group (Holdings) (SEHK:2283) HK$2.61 HK$2.21B ★★★★★★ Angler Gaming (NGM:ANGL) SEK3.60 SEK269.95M ★★★★★★ CNMC Goldmine Holdings (Catalist:5TP) SGD0.625 SGD253.31M ★★★★★☆ Yangzijiang Shipbuilding (Holdings) (SGX:BS6) SGD2.83 SGD11.14B ★★★★★☆ Zetrix AI Berhad (KLSE:ZETRIX) MYR0.875 MYR6.73B ★★★★★☆ Begbies Traynor Group (AIM:BEG) £1.17 £185.96M ★★★★★★ Netgem (ENXTPA:ALNTG) €0.946 €31.9M ★★★★★★ Click here to see the full list of 3,780 stocks from our Global Penny Stocks screener. Here's a peek at a few of the choices from the screener. NanJi E-Commerce Simply Wall St Financial Health Rating: ★★★★★★ Overview: NanJi E-Commerce Co., LTD operates in China, offering brand licensing and comprehensive mobile Internet marketing services, with a market cap of CN¥8.79 billion. Operations: The company generates revenue of CN¥3.37 billion from its operations in China. Market Cap: CN¥8.79B NanJi E-Commerce Co., LTD, with a market cap of CN¥8.79 billion and revenue of CN¥3.37 billion, operates without debt, which is advantageous for financial stability. The company's short-term assets significantly exceed both its short and long-term liabilities, indicating solid liquidity management. However, it remains unprofitable with increasing losses over the past five years and a negative return on equity of -7.18%. Despite this, earnings are forecast to grow substantially at 74.54% annually. Recent amendments to the company's articles suggest strategic shifts while dividends remain inadequately covered by earnings or free cash flows. Click to explore a detailed breakdown of our findings in NanJi E-Commerce's financial health report. Review our growth performance report to gain insights into NanJi E-Commerce's future. Guizhou Xinbang Pharmaceutical Simply Wall St Financial Health Rating: ★★★★★★ Overview: Guizhou Xinbang Pharmaceutical Co., Ltd. is engaged in the research, development, manufacturing, and sale of Chinese herbal medicines and other pharmaceutical products both domestically and internationally, with a market cap of CN¥7.13 billion. Operations: No specific revenue segments have been reported for the company. Market Cap: CN¥7.13B Guizhou Xinbang Pharmaceutical, with a market cap of CN¥7.13 billion, shows financial resilience despite challenges. The company has experienced negative earnings growth over the past year and five years, impacted by a significant one-off loss of CN¥65.5 million. However, it maintains strong liquidity with short-term assets exceeding both short and long-term liabilities and more cash than debt. The management team is seasoned with an average tenure of 10.3 years, although the board lacks experience at 1.9 years on average. Trading below estimated fair value offers potential appeal despite low return on equity and declining profit margins. Navigate through the intricacies of Guizhou Xinbang Pharmaceutical with our comprehensive balance sheet health report here. Understand Guizhou Xinbang Pharmaceutical's track record by examining our performance history report. Dongguan Kingsun OptoelectronicLtd Simply Wall St Financial Health Rating: ★★★★★★ Overview: Dongguan Kingsun Optoelectronic Co., Ltd. manufactures and sells LED lighting products both in China and internationally, with a market cap of CN¥3.37 billion. Operations: The company generates revenue primarily from its Semiconductor Lighting segment, totaling CN¥412.79 million. Market Cap: CN¥3.37B Dongguan Kingsun Optoelectronic Co., Ltd., with a market cap of CN¥3.37 billion, shows financial stability despite being unprofitable. The company benefits from a robust cash position, supporting operations for over three years without additional funding. Short-term assets of CN¥1.4 billion comfortably cover both short and long-term liabilities, indicating strong liquidity management. Although the board is relatively new with an average tenure of 2.2 years, the management team brings experience at 3.2 years on average. Shareholders have not faced significant dilution recently, and the company remains debt-free while reducing losses by 15% annually over five years. Click here and access our complete financial health analysis report to understand the dynamics of Dongguan Kingsun OptoelectronicLtd. Review our historical performance report to gain insights into Dongguan Kingsun OptoelectronicLtd's track record. Make It Happen Jump into our full catalog of 3,780 Global Penny Stocks here. Ready For A Different Approach? Uncover 13 companies that survived and thrived after COVID and have the right ingredients to survive Trump's tariffs. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include SZSE:002127 SZSE:002390 and SZSE:002638. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@
Yahoo
2 minutes ago
- Yahoo
Full Truck Alliance Co. Ltd. Announces Second Quarter 2025 Unaudited Financial Results
GUIYANG, China, Aug. 21, 2025 /PRNewswire/ -- Full Truck Alliance Co. Ltd. ("FTA" or the "Company") (NYSE: YMM), a leading digital freight platform, today announced its unaudited financial results for the second quarter ended June 30, 2025. Second Quarter 2025 Financial and Operational Highlights Total net revenues in the second quarter of 2025 were RMB3,239.1 million (US$452.2 million), an increase of 17.2% from RMB2,764.3 million in the same period of 2024. Net income in the second quarter of 2025 was RMB1,264.8 million (US$176.6 million), an increase of 50.5% from RMB840.5 million in the same period of 2024. Non-GAAP adjusted net income[1] in the second quarter of 2025 was RMB1,352.1 million (US$188.7 million), an increase of 39.3% from RMB970.9 million in the same period of 2024. Fulfilled orders[2] in the second quarter of 2025 reached 60.8 million, an increase of 23.8% from 49.1 million in the same period of 2024. Average shipper MAUs[3] in the second quarter of 2025 reached 3.16 million, an increase of 19.3% from 2.65 million in the same period of 2024. Mr. Peter Hui Zhang, Founder, Chairman, and Chief Executive Officer of FTA, stated, "In the second quarter of 2025, FTA demonstrated strong resilience in navigating both opportunities and challenges in the external environment. By leveraging digitalization and intelligent technologies, we further helped shippers reduce logistic costs and improved operational efficiency across the road freight industry. By quarter-end, our platform had expanded to 1.2 million shipper members and nearly one million trucker members, underscoring the growing engagement from both sides of our ecosystem. In addition, our refined trucker credit rating mechanism further boosted our shipping capacity, driving the fulfillment rate above 40%, a year-over-year increase of 7 percentage points. Looking ahead to the second half of the year, we remain committed to fostering a healthier freight matching ecosystem and empowering enterprises with greater logistics competitiveness." Mr. Langbo Guo, President of FTA, added, "In the second quarter, our steadfast focus on improving fulfillment efficiency and user experience reinforced the healthy development of both shipper and trucker ecosystems. Total net revenues reached RMB3.24 billion in the second quarter of 2025, a 17.2% increase from the prior year period, underpinned by transaction service revenue of RMB1.33 billion, which grew 39.4% year over year. Notably, net income rose 50.5% to RMB1.26 billion, and non-GAAP adjusted net income increased by 39.3% to RMB1.35 billion. Looking ahead, we remain dedicated to our user-centric strategy and to delivering sustainable, long-term value to both our users and shareholders." [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 2025 Financial Results Net Revenues (including value added taxes, or "VAT," of RMB1,255.6 million and RMB1,294.9 million for the three months ended June 30, 2024 and 2025, respectively). Total net revenues in the second quarter of 2025 were RMB3,239.1 million (US$452.2 million), representing an increase of 17.2% from RMB2,764.3 million in the same period of 2024, primarily attributable to an increase in revenues from freight matching services. Freight matching services. Revenues from freight matching services in the second quarter of 2025 were RMB2,747.9 million (US$383.6 million), representing an increase of 18.0% from RMB2,328.7 million in the same period of 2024. The increase was mainly due to the rapid increase in transaction service revenues. Freight brokerage service. Revenues from freight brokerage service in the second quarter of 2025 were RMB1,177.9 million (US$164.4 million), representing an increase of 1.1% from RMB1,164.8 million in the same period of 2024, primarily attributable to an increase in service fee rate, partially offset by a decrease in transaction volume. Freight listing service. Revenues from freight listing service in the second quarter of 2025 were RMB242.9 million (US$33.9 million), an increase of 14.5% from RMB212.1 million in the same period of 2024, primarily due to the growing number of total paying members. Transaction service. Revenues from transaction service amounted to RMB1,327.1 million (US$185.3 million) in the second quarter of 2025, an increase of 39.4% from RMB951.9 million in the same period of 2024, primarily driven by increases in order volume, penetration rate, and per-order transaction service fee. Value-added services.[4] Revenues from value-added services in the second quarter of 2025 were RMB491.2 million (US$68.6 million), an increase of 12.8% from RMB435.6 million in the same period of 2024. The increase was primarily due to growing demand for credit solutions. Cost of Revenues (including VAT net of government grants of RMB992.8 million and RMB918.7 million for the three months ended June 30, 2024 and 2025, respectively). Cost of revenues in the second quarter of 2025 was RMB1,238.4 million (US$172.9 million), a decrease of 5.6% from RMB1,312.1 million in the same period of 2024. The decrease was primarily due to decreases in VAT, related tax surcharges and other tax costs, net of grants from government authorities. These tax-related costs net of government grants totaled RMB1,087.1 million, representing a decrease of 7.6% from RMB1,176.3 million in the same period of 2024, primarily due to a decrease in tax costs net of government grants related to the Company's freight brokerage service. Sales and Marketing Expenses. Sales and marketing expenses in the second quarter of 2025 were RMB433.8 million (US$60.6 million), compared with RMB372.3 million in the same period of 2024. The increase was primarily due to an increase in advertising and marketing expenses for user acquisitions. General and Administrative Expenses. General and administrative expenses in the second quarter of 2025 were RMB170.3 million (US$23.8 million), compared with RMB219.2 million in the same period of 2024. The decrease was primarily due to lower share-based compensation expenses. Research and Development Expenses. Research and development expenses in the second quarter of 2025 were RMB189.6 million (US$26.5 million), compared with RMB232.1 million in the same period of 2024. The decrease was primarily due to lower salary and benefits expenses. Income from Operations. Income from operations in the second quarter of 2025 was RMB1,139.6 million (US$159.1 million), an increase of 101.6% from RMB565.4 million in the same period of 2024. Non-GAAP Adjusted Operating Income.[5] Non-GAAP adjusted operating income in the second quarter of 2025 was RMB1,230.1 million (US$171.7 million), an increase of 76.0% from RMB699.0 million in the same period of 2024. Net Income. Net income in the second quarter of 2025 was RMB1,264.8 million (US$176.6 million), an increase of 50.5% from RMB840.5 million in the same period of 2024. Non-GAAP Adjusted Net Income. Non-GAAP adjusted net income in the second quarter of 2025 was RMB1,352.1 million (US$188.7 million), an increase of 39.3% from RMB970.9 million in the same period of 2024. Basic and Diluted Net Income per ADS[6] and Non-GAAP Adjusted Basic and Diluted Net Income per ADS.[7] Basic net income per ADS was RMB1.20 (US$0.17) in the second quarter of 2025, compared with RMB0.79 in the same period of 2024. Diluted net income per ADS was RMB1.19 (US$0.17) in the second quarter of 2025, compared with RMB0.79 in the same period of 2024. Non-GAAP adjusted basic net income per ADS was RMB1.28 (US$0.18) in the second quarter of 2025, compared with RMB0.92 in the same period of 2024. Non-GAAP adjusted diluted net income per ADS was RMB1.27 (US$0.18) in the second quarter of 2025, compared with RMB0.91 in the same period of 2024. Balance Sheet and Cash Flow As of June 30, 2025, 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 RMB29.5 billion (US$4.1 billion) in total, compared with RMB29.2 billion as of December 31, 2024. As of June 30, 2025, 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 RMB4,861.8 million (US$678.7 million), compared with RMB4,199.6 million as of December 31, 2024. The total non-performing loan ratio[8] for these loans was 2.1% as of June 30, 2025, compared with 2.2% as of December 31, 2024. In the second quarter of 2025, net cash provided by operating activities was RMB1,313.3 million (US$183.3 million). [4] The Company provides a range of value-added services including credit solutions, insurance services, electronic toll collection, energy services and other services on the FTA platform. [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 RMB3.07 billion and RMB3.17 billion for the third quarter of 2025, representing a year-over-year growth rate of approximately 1.3% to 4.6%. As previously announced by the Company, to ensure the sustainability of its freight brokerage service, the Company has decided to increase the service fee rate for freight brokerage service to reduce the service's reliance on government grants and potential uncertainties. The Company understands that such changes may increase costs to shippers. The Company expects that, starting from the third quarter of 2025, the transaction volume of its freight brokerage service will significantly decline, resulting in a decline in revenue from freight brokerage service, while the cost of revenue for the service will increase, which may adversely affect the Company's profit to a certain extent. Excluding freight brokerage service, net revenues are expected to range from RMB2.16 billion to RMB2.26 billion, reflecting an estimated year-over-year growth rate of 23.4% to 29.1%. These forecasts are based on the Company's current and preliminary view of the market and operational conditions, which are subject to change and cannot be predicted with reasonable accuracy as of the date hereof. Declaration of Cash Dividend The board of directors of the Company has approved a semi-annual cash dividend for the second half of 2025 in the amount of US$0.0048 per ordinary share, or US$0.0960 per ADS, payable on or around October 27, 2025, to holders of record of the Company's ordinary shares at the close of business on October 13, 2025. The aggregate amount of the dividend is expected to be approximately US$100 million. Cash dividends are expected to be paid to holders of the Company's ADSs through the depositary, Deutsche Bank Trust Company Americas, on or around October 27, 2025, subject to the terms of the deposit agreement, including the fees and expenses payable thereunder. Exchange Rate Information This announcement contains translations of certain RMB amounts into U.S. dollars ("US$") at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at a rate of RMB7.1636 to US$1.00, the exchange rate in effect as of June 30, 2025, as set forth in the H.10 statistical release of The Board of Governors of the Federal Reserve System. The Company makes no representation that any RMB or US$ amounts could have been, or could be, converted into US$ or RMB, as the case may be, at any particular rate, or at all. Conference Call The Company's management will hold an earnings conference call at 8:00 A.M. U.S. Eastern Time on August 21, 2025, or 8:00 P.M. Beijing Time to discuss its financial results and operating performance for the second quarter 2025. 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: Upon registration, each participant will receive details for the conference call, including dial-in numbers and a unique access PIN. To join the conference, please dial the provided number, enter your PIN, and you will join the conference. A live and archived webcast of the conference call will also be available on the Company's investor relations website at 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 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 empower enterprises with greater logistics competitiveness, 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 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 U.S. GAAP. The Company defines non-GAAP adjusted operating income 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. The Company defines non-GAAP adjusted net income 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. The Company defines non-GAAP adjusted net income attributable to ordinary shareholders as 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. The Company defines non-GAAP adjusted basic and diluted net income per share as non-GAAP adjusted net income attributable to ordinary shareholders divided by weighted average number of basic and diluted ordinary shares, respectively. The Company defines non-GAAP adjusted basic and diluted net income per ADS as non-GAAP adjusted net income attributable to ordinary shareholders divided by the weighted average number of basic and diluted ADSs, respectively. The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as an analytical tool. The non-GAAP financial measures do not reflect all items of expense that affect its operations. The Company reconciles the non-GAAP financial measures to the nearest U.S. GAAP performance measures. Non-GAAP adjusted operating income, non-GAAP adjusted net income, non-GAAP adjusted net income attributable to ordinary shareholders and non-GAAP adjusted basic and diluted net income per share should not be considered in isolation or construed as an alternative to operating income, net income, net income attributable to ordinary shareholders and basic and diluted net income per share or any other measure of performance or as an indicator of its operating performance. Investors are encouraged to review FTA's non-GAAP financial measures to the most directly comparable GAAP measures. FTA's non-GAAP financial measure may not be comparable to similarly titled measures presented by other companies. 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 U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to," and similar statements. Statements that are not historical facts, including statements about the Company's beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: FTA's goal and strategies; FTA's expansion plans; FTA's future business development, financial condition and results of operations; expected changes in FTA's revenues, costs or expenses; industry landscape of, and trends in, China's road transportation market; competition in FTA's industry; FTA's expectations regarding demand for, and market acceptance of, its services; FTA's expectations regarding its relationships with shippers, truckers and other ecosystem participants; FTA's ability to protect its systems and infrastructures from cyber-attacks; PRC laws, regulations, and policies relating to the road transportation market, as well as general regulatory environment in which FTA operates in China; the results of regulatory review and the duration and impact of any regulatory action taken against FTA; the impact of health epidemics, extreme weather conditions and production constraints brought by electricity rationing measures; general economic and business condition; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law. For investor and media inquiries, please contact: In China: Full Truck Alliance Co. MaoE-mail: IR@ Piacente Financial CommunicationsHui FanTel: +86-10-6508-0677E-mail: FTA@ In the United States: Piacente Financial CommunicationsBrandi PiacenteTel: +1-212-481-2050E-mail: FTA@ FULL TRUCK ALLIANCE CO. CONDENSED CONSOLIDATED BALANCE SHEETS (All amounts in thousands, except share, ADS, per share and per ADS data)As ofDecember 31,June 30,June 30,202420252025RMBRMBUS$ ASSETSCurrent assets:Cash and cash equivalents 5,810,3474,399,195614,104 Restricted cash 100,53372,86410,171 Short-term investments 15,002,90312,337,6641,722,271 Accounts receivable, net 19,64334,8684,867 Amounts due from related party —14,3171,999 Loans receivable, net 4,199,6454,861,809678,682 Prepayments and other current assets, net 2,122,9022,076,124289,816 Total current assets 27,255,97323,796,8413,321,910 Restricted cash 40,00030,0004,188 Long-term investments1 9,876,11814,458,2612,018,295 Property and equipment, net 289,611345,10048,174 Intangible assets, net 393,477367,06351,240 Goodwill 3,124,8283,124,828436,209 Deferred tax assets 92,882133,72418,667 Operating lease right-of-use assets 115,654101,32414,144 Other non-current assets 98,532242,98533,919 Total non-current assets 14,031,10218,803,2852,624,836 TOTAL ASSETS 41,287,07542,600,1265,946,746 LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITYCurrent liabilities:Accounts payable 31,22729,4774,115 Prepaid for freight listing fees and other service fees 571,185646,85690,298 Income tax payable 336,220361,46550,459 Other tax payable 898,396570,07079,579 Operating lease liabilities 41,20443,4526,066 Accrued expenses and other current liabilities 1,141,7581,026,709143,319 Total current liabilities 3,019,9902,678,029373,836 Deferred tax liabilities 95,57089,05912,432 Operating lease liabilities 23,9288,6941,214 Other non-current liabilities 12,41410,9231,525 Total non-current liabilities 131,912108,67615,171 TOTAL LIABILITIES 3,151,9022,786,705389,007 MEZZANINE EQUITYRedeemable non-controlling interests 443,070581,89781,230 SHAREHOLDERS' EQUITYOrdinary shares 1,3431,343187 Additional paid-in capital 45,823,72344,996,9526,281,332 Accumulated other comprehensive income 3,223,9443,129,673436,886 Accumulated deficit (11,372,284)(8,909,513)(1,243,720) TOTAL FULL TRUCK ALLIANCE CO. LTD. EQUITY 37,676,72639,218,4555,474,685 Non-controlling interests 15,37713,0691,824 TOTAL SHAREHOLDERS' EQUITY 37,692,10339,231,5245,476,509 TOTAL LIABILITIES, MEZZANINE EQUITY AND EQUITY 41,287,07542,600,1265,946,746 1. The Group's long-term investments consist of RMB11,551 million long-term time deposits, RMB1,106 million wealth management products with maturitiesover one year, RMB770 million available-for-sale debt securities, RMB316 million equity method investments, and RMB715 million equity investmentswithout readily determinable fair value as of June 30, 2025. 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 endedSix months endedJune 30,March 31,June 30,June 30,June 30,June 30,June 30,2024202520252025202420252025RMBRMBRMBUS$RMBRMBUS$ Net Revenues:Freight Matching Services 2,328,6952,247,1072,747,919383,5944,198,3604,995,026697,279 Freight brokerage service 1,164,763965,6661,177,906164,4292,129,9322,143,572299,231 Freight listing service 212,070234,905242,92033,910425,581477,82566,702 Transaction service 951,8621,046,5361,327,093185,2551,642,8472,373,629331,346 Value-added services 435,588452,802491,18768,567834,636943,989131,776 Total net revenues (including value-added taxes or "VAT" of RMB1,255.6 million and RMB1,294.9 million for the three months ended June 30, 2024 and 2025, respectively) 2,764,2832,699,9093,239,106452,1615,032,9965,939,015829,055 Operating expenses:Cost of revenues (including VAT net ofgovernment grants of RMB992.8million and RMB918.7 million for thethree months ended June 30,2024 and 2025, respectively)(1) (1,312,072)(698,559)(1,238,371)(172,870)(2,343,960)(1,936,930)(270,385) Sales and marketing expenses(1) (372,288)(377,850)(433,842)(60,562)(712,435)(811,692)(113,308) General and administrative expenses(1) (219,157)(186,009)(170,347)(23,780)(483,624)(356,356)(49,745) Research and development expenses(1) (232,140)(193,358)(189,620)(26,470)(479,848)(382,978)(53,462) Provision for loans receivable (71,057)(81,851)(75,028)(10,474)(151,381)(156,879)(21,899) Total operating expenses (2,206,714)(1,537,627)(2,107,208)(294,156)(4,171,248)(3,644,835)(508,799) Other operating income 7,79840,1657,6621,07015,80847,8276,676 Income from operations 565,3671,202,4471,139,560159,075877,5562,342,007326,932 Other income (expense)Interest income 305,337245,509251,30435,081620,700496,81369,352 Foreign exchange gain (loss) 6,306(10,825)205296,723(10,620)(1,482) Investment income 18,69719,33320,0022,79237,18139,3355,491 Unrealized (losses) gains from fair value changes of investments (4,522)33,46237,0325,169(11,910)70,4949,841 Other income (expenses), net 1,395618(11,024)(1,539)3,465(10,406)(1,453) Share of (loss) gain in equity methodinvestees (882)163(2,590)(362)(930)(2,427)(339) Total other income 326,331288,260294,92941,170655,229583,18981,410 Net income before income tax 891,6981,490,7071,434,489200,2451,532,7852,925,196408,342 Income tax expense (51,190)(211,771)(169,655)(23,683)(105,910)(381,426)(53,245) Net income 840,5081,278,9361,264,834176,5621,426,8752,543,770355,097 Less: net loss attributable to non-controlling interests (568)(1,162)(1,147)(160)(1,117)(2,309)(322) Less: measurement adjustment attributable to redeemable non- controlling interests 17,94211,52221,4933,00023,68633,0154,609 Net income attributable toordinary shareholders 823,1341,268,5761,244,488173,7221,404,3062,513,064350,810 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 endedSix months endedJune 30,March 31,June 30,June 30,June 30,June 30,June 30,2024202520252025202420252025RMBRMBRMBUS$RMBRMBUS$ Net income per ordinary share—Basic 0.040.060.060.010.070.120.02 —Diluted 0.040.060.060.010.070.120.02 Net income per ADS* —Basic 0.791.221.200.171.352.410.34 —Diluted 0.791.211.190.171.342.400.33 Weighted average numberof ordinary shares usedin computing net income per share—Basic 20,805,892,86020,850,255,05020,824,102,53120,824,102,53120,834,974,34420,837,086,24820,837,086,248 —Diluted 20,905,548,18120,958,643,96220,933,997,67220,933,997,67220,905,238,79620,946,325,39920,946,325,399 Weighted average numberof ADS used incomputing net income per ADS—Basic 1,040,294,6431,042,512,7531,041,205,1271,041,205,1271,041,748,7171,041,854,3121,041,854,312 —Diluted 1,045,277,4091,047,932,1981,046,699,8841,046,699,8841,045,261,9401,047,316,2701,047,316,270 * Each ADS represents 20 ordinary shares.(1) Share-based compensation expense in operating expenses are as follows:Three months endedSix months endedJune 30,March 31,June 30,June 30,June 30,June 30,June 30,2024202520252025202420252025RMBRMBRMBUS$RMBRMBUS$ Cost of revenues 2,7343,8493,5134905,4787,3621,028 Sales and marketingexpenses 12,87519,55815,7032,19223,56035,2614,922 General and administrativeexpenses 79,19755,76836,1315,044198,74091,89912,829 Research and developmentexpenses 21,49523,49822,1263,08944,47945,6246,369 Total 116,301102,67377,47310,815272,257180,14625,148 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 endedSix months endedJune 30,March 31,June 30,June 30,June 30,June 30,June 30,2024202520252025202420252025RMBRMBRMBUS$RMBRMBUS$ Income from operations 565,3671,202,4471,139,560159,075877,5562,342,007326,932 Add:Share-basedcompensationexpense 116,301102,67377,47310,815272,257180,14625,148 Amortization ofintangible assetsresulting frombusiness acquisitions 13,02113,02113,0211,81826,04226,0423,635 Compensation cost incurred in relationto acquisitions 4,281———8,562—— Non-GAAP adjustedoperating income 698,9701,318,1411,230,054171,7081,184,4172,548,195355,715 Net income 840,5081,278,9361,264,834176,5621,426,8752,543,770355,097 Add:Share-basedcompensationexpense 116,301102,67377,47310,815272,257180,14625,148 Amortization ofintangible assetsresulting frombusiness acquisitions 13,02113,02113,0211,81826,04226,0423,635 Compensation cost incurred in relationto acquisitions 4,281———8,562—— Tax effects ofnon-GAAPadjustments (3,255)(3,255)(3,255)(455)(6,510)(6,510)(909) Non-GAAP adjusted netincome 970,8561,391,3751,352,073188,7401,727,2262,743,448382,971 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 endedSix months endedJune 30,March 31,June 30,June 30,June 30,June 30,June 30,2024202520252025202420252025RMBRMBRMBUS$RMBRMBUS$ Net income attributableto ordinaryshareholders 823,1341,268,5761,244,488173,7221,404,3062,513,064350,810 Add:Share-basedcompensationexpense 116,301102,67377,47310,815272,257180,14625,148 Amortization ofintangible assetsresulting frombusiness acquisitions 13,02113,02113,0211,81826,04226,0423,635 Compensation cost incurred in relationto acquisitions 4,281———8,562—— Tax effects ofnon-GAAPadjustments (3,255)(3,255)(3,255)(455)(6,510)(6,510)(909) Non-GAAP adjusted netincome attributable toordinary shareholders 953,4821,381,0151,331,727185,9001,704,6572,712,742378,684 Non-GAAP adjusted netincome per ordinaryshare—Basic 0.050.070.060.010.080.130.02 —Diluted 0.050.070.060.010.080.130.02 Non-GAAP adjusted netincome per ADS—Basic 0.921.321.280.181.642.600.36 —Diluted 0.911.321.270.181.632.590.36 View original content: SOURCE Full Truck Alliance Co. Ltd. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
