Full Truck Alliance's board of directors approved an additional investment of US$125 million in the preferred shares of Plus PRC Holding Ltd., a leading autonomous driving technology company. This investment will convert existing convertible notes held by YMM into preferred shares.
Upon completion of these investment transactions, Full Truck Alliance expects to hold no less than 52.8% equity interest and 56.2% voting rights in Plus PRC. The company also anticipates consolidating Plus PRC's financial results into its own consolidated financial statements.
This strategic investment underscores Full Truck Alliance's commitment to technological innovation and long-term growth in intelligent logistics. It aims to establish a first-mover advantage in heavy-duty truck autonomous driving, enhancing efficiency and reducing transportation costs.
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