China's Full Truck Alliance Q3 revenue up on strong demand for freight matching services

Full Truck Alliance

17/11/2025 10:42

Overview

Digital freight platform Full Truck Alliance Q3 revenue grows 10.8% yr/yr to RMB3.36 bln

Net income for Q3 2025 decreases compared to same period last year

Company acquired majority interest in Giga.AI to enhance AI capabilities

Outlook

Company expects Q4 2025 net revenues between RMB3.08 bln and RMB3.18 bln

Excluding freight brokerage, Q4 net revenues seen at RMB2.18 bln to RMB2.28 bln

Company aims to leverage technology for high-quality development

Result Drivers

TRANSACTION SERVICE REVENUE - Co's transaction service revenue rose 39% yr/yr, driven by increased order volume and higher fees

AI CAPABILITIES - Acquisition of Giga.AI enhanced co's AI capabilities, positioning for future growth

USER GROWTH - Record high user numbers with 17.6% increase in shipper MAUs and 22.3% increase in fulfilled orders

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
RMB 3.36 bln
(US$471.7 million)
Q3 Adjusted Net Income
RMB 988.10 mln
Q3 Net Income
RMB 921 mln
Q3 Adjusted Operating Income
RMB 849.10 mln
Q3 Operating Income
RMB 776.30 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the software peer group is "buy"

Wall Street's median 12-month price target for Full Truck Alliance Co Ltd is $14.60, about 15.6% above its November 14 closing price of $12.32

The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 15 three months ago

Press Release: ID:nPn1hqJMRa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)