China's Full Truck Alliance Q2 profit lifted by higher orders, rates
YMM•Dividend and outlook
The company declared a Q3 cash dividend totaling about $87.5 million.
Full Truck Alliance expects Q3 2026 net revenues between RMB 3.32 billion and RMB 3.42 billion, versus RMB 3.36 billion in the same period of 2025.
Key financial details
| Metric | Actual |
|---|---|
| Q2 Revenue | RMB 3.38 billion |
| Q2 Adjusted Net Income | RMB 1.43 billion |
| Q2 Net Income | RMB 1.35 billion |
| Q2 Adjusted Operating Income | RMB 1.58 billion |
| Q2 Operating Income | RMB 1.49 billion |
What drove the quarter
- Transaction service growth — Revenue growth was mainly driven by a 33.1% increase in transaction service revenues, reflecting higher order volume, penetration rate and per-order fees.
- Brokerage revenue decline — Freight brokerage revenues fell due to lower transaction volume, partly offset by higher service fee rates.
- Value-added services drop — Value-added services revenue decreased, mainly due to lower credit solutions revenues.
