Full Truck Alliance Stock Surges 3.1% on $450M Trading Volume Surge Ranks 243rd in Daily Liquidity

On August 4, 2025, Full Truck Alliance (YMM) closed at $10.99, up 3.10% as trading volume surged to $450 million, a 82.65% increase from the previous day. The stock ranks 243rd in daily trading volume among listed companies. Recent corporate developments highlight strategic adjustments as the firm navigates a shifting economic landscape.

The company announced a planned rate hike for its freight brokerage services, its second-largest revenue stream. While aiming to ensure long-term sustainability, the move is expected to reduce transaction volume and profitability in the near term. Full Truck Alliance also reported a 25% year-on-year increase in small business loans, with non-performing loan ratios rising to 2.2%, reflecting broader economic pressures on its core clients.

Operational adjustments include workforce reductions and cost-cutting measures, which contributed to a 30% decline in first-quarter administrative expenses. Despite these steps, the company warned of potential revenue declines from freight brokerage services starting in Q3 2025. Gross margins expanded to 69.2% in Q1, driven by reduced tax burdens and operational efficiencies.

Regulatory challenges in 2021-2022, including a ban on new customer sign-ups due to data security issues, have since been resolved. The firm’s proactive approach to addressing risks has garnered analyst confidence, with 11 of 13 analysts rating it as a “buy” or “strong buy.” However, the recent rate hike and loan risks underscore growing operational complexities amid China’s economic slowdown.

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