YMM - Full Truck Alliance Goes Full Throttle On User Acquisitions
2024-03-11 19:31:00 ET
Summary
- Full Truck Alliance’s revenue rose 25.3% in last year’s fourth quarter, while its net income tripled on strong investment income and new user growth.
- This heavy spending in sales and marketing helped to boost revenues substantially, though at a slower rate than the marketing campaign.
- Full Truck Alliance also has an edge over its rivals in its strong cash position, which totaled 27.6 billion yuan at the end of last year, up modestly from a year earlier.
Many members of China Inc. are putting the brakes on new investment these days, choosing to focus more on improving efficiency as the nation's economy slows and regulatory oversight increases. But don't tell that to trucking platform operator Full Truck Alliance Co. Ltd. ( YMM ), whose latest earnings report shows it intends to stay in the expansion fast lane, at least for now, despite the challenging environment....
Full Truck Alliance Goes Full Throttle On User Acquisitions