Full Truck Alliance Co. Ltd. announced record financial results for the fiscal year ended December 31, 2024, with total net revenues reaching RMB11,238.6 million, a 33.2% increase from 2023. For the fourth quarter of 2024, total net revenues were RMB3,174.3 million, up 31.8% year-over-year, primarily driven by growth in freight matching services.
The company's profitability also saw substantial growth, with non-GAAP adjusted net income for the full year 2024 surging by 43.7% to RMB4,020.4 million. In Q4 2024, non-GAAP adjusted net income increased by 43.5% year-over-year to RMB1,052.0 million.
Full Truck Alliance provided its business outlook for the first quarter of 2025, expecting total net revenues to be between RMB2.63 billion and RMB2.68 billion. The company reported an impairment loss of RMB352.7 million in Q4 2024 due to credit impairment on investments, and the non-performing loan ratio for its small loans business increased to 2.2% as of December 31, 2024, from 2.0% at the end of 2023.
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