Full Truck Alliance .(YMM)2024-11-20 21:01Financial Performance - Total net revenues for Q3 2024 were RMB3,031.4 million (US159.9 million), up 81.4% from RMB618.4 million in Q3 2023[4] - Non-GAAP adjusted net income for Q3 2024 reached RMB1,241.2 million (US149.3 million), a 68.6% increase from RMB621.4 million in Q3 2023[12] - Revenue from freight matching services in Q3 2024 was RMB2,551.8 million (US3.9 billion), slightly down from RMB27.6 billion as of December 31, 2023[17] - The Company reported total current assets of RMB 27,796,906 thousand as of September 30, 2024, an increase from RMB 23,996,982 thousand as of December 31, 2023, representing a growth of approximately 15.5%[35] - The Company’s total assets were RMB 39,347,647 thousand as of September 30, 2024, compared to RMB 40,612,619 thousand as of December 31, 2023, showing a decline of approximately 3.1%[35] - The Company’s total shareholders' equity was RMB 36,401,881 thousand as of September 30, 2024, compared to RMB 35,617,304 thousand as of December 31, 2023, reflecting an increase of about 2.2%[35] Liabilities and Deficits - Total liabilities decreased to RMB 3,452,923 thousand as of September 30, 2024, from RMB 3,785,015 thousand as of December 31, 2023, reflecting a reduction of about 8.8%[35] - The Company’s accumulated deficit was RMB (14,400,604) thousand as of September 30, 2024, an increase from RMB (11,929,515) thousand as of December 31, 2023, indicating a worsening of approximately 20.7%[35] Non-GAAP Measures - Non-GAAP adjusted net income attributable to ordinary shareholders excludes share-based compensation expense and other non-recurring items, providing a clearer view of operational performance[28] - The Company’s non-GAAP adjusted operating income is defined as income from operations excluding specific expenses, providing a more focused measure of operational efficiency[28] - Non-GAAP adjusted net income per ordinary share (diluted) for the nine months ended September 30, 2024, was 0.10 in the same period last year[44] Historical Comparisons - Net revenues for the three months ended September 30, 2023, were RMB 2,263.9 million, representing a year-over-year increase of 12.5% compared to RMB 2,764.3 million for the same period in 2024[37] - Operating expenses for the three months ended September 30, 2023, totaled RMB 2,023.9 million, an increase of 9.0% from RMB 2,206.7 million in the previous quarter[37] - Net income for the three months ended September 30, 2023, was RMB 618.4 million, reflecting a year-over-year increase of 12.5% compared to RMB 840.5 million for the same period in 2024[37] - Non-GAAP adjusted net income for the three months ended September 30, 2023, was RMB 826.6 million, up from RMB 970.9 million in the previous quarter[42]