我国是全球最大的公路货运市场，公路货运承担了全国七成以上的货运量。我们享受便捷的网上购物，北方居民在冬季也能吃到新鲜蔬菜，这 背后都有货车司机的默默奉献。公路货运保障了我国经济命脉的畅通稳定。 最近，中国物流与采购联合会发布了《2025年货车司机从业状况调查报告》（以下简称为《报告》），全面展示了货车司机的工作状况。3800万货车司 机穿行在全国各地，用辛勤的劳动绘出一幅壮丽的画卷。货车司机们，辛苦了！ 01 上有老下有小的年龄段 网上有一个热门视频，一个小女孩听说爸爸的车会路过门前的高速公路，于是早早地站在桥上等待，看到爸爸驾驶的车来了，不停地挥手。小女孩与爸 爸见上一面的期待是一个缩影，货车司机们大多数处于上有老下有小的年龄段。 调查数据显示，36-45岁的货车司机占比最高，为42.30%。其次是46-55岁的司机，占比为42.08%。两者合计36-55岁的司机占比84.38%，超过八成，显 示货车司机从业年龄总体偏大。 《报告》对比了以往的调查结果，与上年调查相比，46岁以上货车司机占比增加，35岁以下货车司机占比进一步下滑，显示行业对年轻从业者吸引力不 足。 调查数据还显示，从业年限在21年以上的货车 ...

Full Truck Alliance (YMM) Q2 2025 Earnings Call August 21, 2025 08:00 AM ET Company ParticipantsMao Mao - Head - Investor RelationsSimon Chong Cai - Chief Financing & Investment OfficerEddy Wang - Executive DirectorCharlie Chen - Head of ResearchWenjie Zhang - Equity Research Senior AssociateYuan Liao - Internet Media Research AssistantRitchie Sun - Director - Internet researchOperatorLadies and gentlemen, good day, and welcome to Full Truck Alliance's Second Quarter twenty twenty five Earnings Conference C ...

Financial Data and Key Metrics Changes - Total net revenue reached RMB3.24 billion, a 17.2% year-over-year increase, driven by a 39.4% surge in transaction service revenue to RMB1.33 billion [9][19] - Non-GAAP adjusted operating income rose to RMB1.23 billion, up 76% year-over-year, while non-GAAP adjusted net income increased by 39.3% to RMB1.35 billion [10][22] - Basic income per ADS was RMB1.2, compared to RMB0.79 in the same period of 2024, indicating significant growth in profitability [23] Business Line Data and Key Metrics Changes - Fulfilled orders totaled 60.8 million, a 23.8% year-over-year increase, with a fulfillment rate reaching 40.7%, an improvement of approximately seven percentage points [6][8] - Average shipper MAUs exceeded 3,160,000, a 19.3% year-over-year increase, while shipper members surpassed 1,200,000 [7][14] - Active truckers fulfilling orders rose to 4,340,000, up approximately 9% year-over-year, with trucker membership approaching 1,000,000 [7][15] Market Data and Key Metrics Changes - The average fulfillment rate among low and medium frequency direct shippers approached 60%, up almost 10 percentage points year-over-year [13] - Monetized order penetration reached 86.7%, up more than five percentage points from the prior year, indicating improved monetization efficiency [16] Company Strategy and Development Direction - The company aims to remain user-centric, focusing on strengthening the shipper and trucker ecosystems, expanding into new markets, and driving digital transformation in logistics [10] - The company plans to increase freight brokerage service fees to reduce reliance on government subsidies, which may lead to a decline in transaction volume but is expected to optimize revenue structure in the long run [23][24] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about continued growth in fulfilled orders despite macro uncertainties, attributing this to strong market position and ongoing user structure optimization [31] - The company anticipates a significant decline in freight brokerage transaction volume due to increased fees but expects limited impact on transaction service business [24][48] Other Important Information - The company has implemented measures to protect truckers' rights and ensure timely payments, enhancing the overall trading environment [42][44] - A strategic shift in the entrusted shipment service has been made to focus on full truckload transactions, which are expected to improve user experience and revenue stability [52][54] Q&A Session Summary Question: What are the key factors driving the growth in fulfilled orders? - Management attributed the growth to user base expansion, optimization of shipper user structure, and product/service upgrades, with a strong performance from low and medium frequency direct shippers [28][30] Question: What are the main drivers behind the growth in monthly active shippers? - Growth was driven by improved user acquisition efficiency and enhancements to product experience, with a focus on direct shippers over intermediaries [36][39] Question: What measures have been put in place in response to the industry self-regulation convention? - The company has strengthened oversight of shippers, provided support for truckers, and enhanced communication channels to foster a fair trading environment [42][44] Question: What operational changes have been made in the freight brokerage service? - The company increased fee rates to cover rising costs and focused on customer communication and retention, with early observations indicating stable user retention post-adjustment [46][47] Question: How did the entrusted shipment business perform in the second quarter? - The company streamlined its entrusted shipment service to focus on full truckload transactions, which are expected to enhance user experience and revenue stability [52][54]

中新网北京8月19日电 (记者尹倩芸)中国人民大学中国就业与民生研究院19日发布的《2025年货车司机 就业与生活状况调查报告》(下称"报告")显示，数字能力的强弱与平台使用程度，正成为影响司机工作 与收入水平的重要变量。 （文章来源：中国新闻网） 调查数据显示，数字能力得分较高的司机群体，其月均毛收入和净收入水平均明显高于得分偏低群体； 平台订单占比越高，货车司机的收入明显更高。报告认为，这种对比表明，数字能力的强弱和平台使用 程度已成为影响劳动回报与职业发展的核心因素之一。 报告提到，年龄结构上货车司机以中青年为主力。从年龄分布看，30至49岁司机是行业内的骨干力量， 占比近八成。货车司机收入分布以中高收入为主，超过九成司机收入集中在8001元至32000元区间。 从入行动因看，工作时间灵活、收入相对较高、驾驶兴趣驱动是主要吸引因素，时间安排、现实激励与 兴趣认同共同构成了职业吸引力。 更重要的是，这一职业展现出清晰的职业发展路径。通过有效利用平台、积累经验并提升运力组织能 力，部分司机已从单一运输者成长为车队负责人、平台合作者乃至物流园区运营主体。 报告称，此次调查主要采取线上随机发放问卷形式，共得到有 ...

记者丨 高江虹 编辑丨朱益民 8月19日，中国人民大学中国就业与民生研究院在京发布《2025年货车司机就业与生活状况调 查报告》（以下简称"报告"）。 报告披露， 2025年，货车司机平均每月净收入达到10512元，远高于其他新就业群体。 但近 年来公路货运行业运价持续下跌，制约了货车司机收入的增长，同时运力供大于求导致内卷严 重，中国人民大学中国就业与民生研究院副院长周广肃呼吁有关部门出手整治。 资料图 据报告介绍，货车司机的年龄结构显示货运行业从业人员以中青年司机为主力。从年龄分布来 看， 30至49岁的司机是行业内的骨干力量，占比接近80%。 其中，30至39岁区间的司机占比 最高，达到50.24%。 货车司机作为新就业群体中的重要职业，展现出较高的经济回报优势。货车司机职业在六类新 就业群体中以较为明显的净收入优势居于首位。 2025年，货车司机平均每月净收入达到10512 元，远高于其他新就业群体。 报告显示，货车司机收入分布以中高收入为主，超过九成司机收入集中在8001元至32000元区 间。整体来看，货车司机职业不仅回报稳定且具有持续增长潜力，具有较强的市场竞争力和吸 引力。 在消费方面，货车司 ...

Core Viewpoint - The trucking industry in Daying Village is facing increasing competition and declining freight rates, forcing drivers to work longer hours and take on more orders to maintain their income [4][5][10]. Group 1: Industry Challenges - Truck drivers in Daying Village have observed a significant drop in freight rates, with prices for transporting steel decreasing from approximately 400 yuan per ton in 2017 to around 200 yuan in 2025, a nearly 50% decline [12]. - The number of truck drivers in China is around 38 million, and many are experiencing a decrease in income, with nearly 80% of individual drivers reporting reduced earnings in 2024 compared to 2023 [5][12]. - The logistics industry is facing a "car surplus, cargo shortage" dilemma, leading to intensified price competition among drivers [10][13]. Group 2: Adaptation Strategies - To cope with declining income, many truck drivers are forming "couple teams" to extend their working hours and cover more distance [4][14]. - Daying Village is exploring new economic avenues, such as collective farming of cash crops, which has led to recognition as an "excellent village collective economy" for three consecutive years [6][29]. - The village is also looking to attract investment to create a complete agricultural production and processing chain, enhancing the value of local agricultural products [29][30]. Group 3: Socioeconomic Impact - The trucking profession has historically provided higher income compared to farming, making it a desirable occupation despite current challenges [7][27]. - The village's demographic is aging, with over 40% of the population being over 60 years old, prompting the need for sustainable income solutions for retirees [27][28]. - The shift from agriculture to trucking has transformed Daying Village into a wealthier community, with modern infrastructure and housing developments [3][15].

据披露，2024年"暖途"行动汇集23个公益项目，累计投入公益资金超3000万元，直接服务货车司机530万人次。2025年 度"暖途"行动共确定了29个签约项目，预计可直接覆盖600万人次以上。 公路货运承担了全国七成以上的货运量，保障着我国经济命脉的畅通稳定，而3800万货车司机作为从业主体，他们的从业 状况和权益保障是行业高质量发展的重要体现。《2025年货车司机从业状况调查报告》显示，七成以上的货车司机患有职业 病，这些患病司机中，近七成司机因饮食不规律等患有胃病。他们的孩子作为"公路留守儿童"，其教育问题也被社会广泛关 注。 本报讯 （记者袁传玺）7月23日，2025年"暖途·货车司机、出租汽车司机职业发展与保障行动"（简称"暖途"行动）暨"货车 司机护航"专项行动在京启动。活动现场揭晓了2024年"暖途"行动13个年度优秀公益项目，北京福佑多多信息技术有限公司 （以下简称"福佑卡车"）的"U公益"货车司机在途饮食关怀及子女助学行动入选。福佑卡车董事长、CEO单丹丹获评年度优秀 公益伙伴，并作为"暖途"企业代表在启动仪式发言。 图：全国总工会、交通运输部领导与协会、司机代表启动2025"暖途"行动（企 ...

Core Insights - The report released by the China Logistics and Purchasing Federation indicates that the working environment for truck drivers is improving, with income levels relatively high compared to other blue-collar jobs, and job stability is strong, with 69.41% of drivers having over 11 years of experience [1] - Nearly 60% of drivers are using digital freight platforms to find loads, and the proportion of loads sourced from these platforms is steadily increasing [1][12] Income and Employment Stability - Truck drivers' income levels are positioned above average within the blue-collar workforce, reflecting a relatively favorable economic status [1] - The stability of the profession is highlighted by the fact that a significant majority of drivers have long tenures in the industry, with 69.41% having more than 11 years of experience [1] Freight Payment Issues - A significant concern among truck drivers is the perception that freight rates are generally low, with around 50% of drivers experiencing various freight disputes, primarily related to delayed payments, which account for 75.77% of disputes [5][8] - The report identifies that the traditional payment practices between freight owners and drivers create a mismatch, leading to widespread issues of payment delays [7][8] Digital Freight Platforms - The incidence of payment disputes in the digital freight platform sector is significantly lower, at approximately 0.96%, and is decreasing annually [7] - Digital freight platforms like Yunmanman have established effective dispute resolution mechanisms, achieving a 96.5% resolution rate for disputes in 2025, recovering 9.91 billion yuan in overdue payments for drivers [12][13] Driver Demographics and Challenges - Individual truck drivers make up 60.83% of the workforce, which presents challenges such as weak risk management and limited legal awareness [7] - The report highlights that individual drivers face difficulties in protecting their rights due to issues like chaotic pricing, disorganized competition, and frequent payment delays [8] Dispute Resolution Channels - Most drivers (80.73%) resolve freight disputes directly with shippers or receivers, while 45.92% also utilize platform mediation [10] - The report emphasizes the importance of multi-channel approaches for drivers to find loads and resolve disputes effectively [12]

Core Insights - The expansion of occupational injury protection is addressing the needs of frontline workers, particularly truck drivers, who are essential to the logistics and transportation sector [1][4][6] Group 1: Occupational Injury Protection - Over 80% of truck drivers have participated in various social insurance programs, with a steady increase in participation rates [1] - The Ministry of Transport and other departments are promoting mutual insurance for truck drivers to provide support in case of accidents or serious illnesses [4][6] - The new employment form occupational injury protection pilot program has been expanded to include additional provinces and platforms, indicating a growing recognition of the need for such protections [6][7] Group 2: Social Security Needs - 59.91% of truck drivers believe that digital freight platforms should enhance freight insurance services, highlighting a significant gap in current offerings [1][5] - Legal aid services are the most urgently needed social security service, with over 50% of truck drivers expressing this need, reflecting ongoing disputes in the freight industry [4][5] - The report indicates that approximately 50% of truck drivers have encountered various freight disputes, with issues like unpaid freight being prevalent [5] Group 3: Industry Support and Infrastructure - More than 2,800 "Driver Homes" have been established across the country to provide essential services such as parking and rest areas for truck drivers, with over a quarter of drivers utilizing these facilities [5] - Experts suggest that there is a need to improve the freight insurance mechanism and establish a fair market pricing system to protect truck drivers' rights [5][6] - The logistics sector is crucial to the national economy, with over 38 million truck drivers responsible for more than 70% of the transportation of essential goods [1][4]

Core Insights - The logistics industry in China is heavily reliant on truck drivers, with approximately 38 million drivers handling over 70% of the national freight volume [1] - A recent report highlights the challenges faced by truck drivers, including high labor intensity, income volatility, and unstable freight [1][2] - The adoption of digital freight platforms is seen as a key factor in the industry's transformation and efficiency improvement [1][4] Group 1: Driver Characteristics - The age structure of truck drivers shows an increase in those over 46 years old, indicating a decline in younger drivers under 35 [2] - Approximately 69.41% of truck drivers have over 11 years of experience, suggesting a high level of job stability within the profession [2] - Individual operators make up over 60% of the driver population, although the number of employed drivers has increased compared to 2024 [2] Group 2: Income and Work Conditions - The average monthly income for truck drivers is concentrated between 5,000 and 8,000 yuan, placing them in the upper-middle range among blue-collar workers [2] - More than one-third of truck drivers work over 12 hours a day, with individual operators experiencing longer waiting times, particularly 55.11% waiting over 5 hours [2][3] - The report emphasizes the need to reduce waiting times and improve transportation efficiency to alleviate the burden on drivers [2] Group 3: Digital Freight Platforms - Over 57.44% of individual operators use digital freight platforms to find cargo, indicating a trend towards digitalization in the industry [3] - The main advantages of these platforms include convenience in finding cargo, with over 70% of drivers recognizing this as the primary benefit [4] - The integration of digital tools is reshaping the operational ecosystem of the freight industry, enhancing service efficiency [3] Group 4: Cost Savings and Efficiency - The use of digital platforms has led to a reduction in the "three empty rates" (empty driving, empty cargo, and idle time) from 38% to 34% [5] - Drivers using the platform can increase their monthly income by approximately 30% through optimized load matching and scheduling [5] - The platform also provides various cost-saving measures, potentially saving drivers 10,000 to 20,000 yuan annually on operational costs [5] Group 5: Pricing Concerns - Over 80% of drivers express concerns about low pricing from shippers, indicating a need for better price regulation and transaction standards [6] - The platform has implemented measures to control malicious price undercutting and improve pricing mechanisms to stabilize freight rates [6] - In 2024, the platform successfully recovered 9.91 billion yuan in overdue payments for drivers, highlighting its role in addressing payment issues [6]