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    How Investors Are Reacting To Full Truck Alliance (YMM) Rising Revenues And New AI Acquisition

    Simply Wall St·12/09/2025 16:15:44
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    • In November, Full Truck Alliance reported Q3 results showing a 10.8% year-over-year rise in total net revenues, a 39.0% increase in core transaction-service revenue, and record platform usage, while also acquiring a majority stake in Giga.AI Technology Limited to expand its AI capabilities.
    • This combination of stronger operating metrics and an AI-focused acquisition highlights how the company is leaning further into technology to support future platform growth and service innovation.
    • Next, we’ll examine how this AI-focused acquisition and stronger transaction-service growth may influence Full Truck Alliance’s existing investment narrative.

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    Full Truck Alliance Investment Narrative Recap

    To own Full Truck Alliance, you need to believe its digital freight platform can keep scaling transactions while defending margins in a competitive, regulated market. The latest quarter’s solid revenue and usage growth, alongside the Giga.AI acquisition, supports the near term catalyst of strengthening core transaction services, but does not remove key risks around freight brokerage volume pressure and rising customer acquisition costs.

    The Giga.AI Technology Limited acquisition is especially relevant here, as it directly ties into Full Truck Alliance’s push to deepen its technology stack and improve matching efficiency on the platform. If AI tools help lift transaction density and user stickiness, they could offset slower freight brokerage growth and support the company’s shift toward higher value, transaction driven revenue streams.

    Yet alongside these positive developments, investors should be aware that higher marketing spend and tougher user acquisition economics could still...

    Read the full narrative on Full Truck Alliance (it's free!)

    Full Truck Alliance's valuation narrative projects CN¥18.1 billion in revenue and CN¥8.7 billion in earnings by 2028.

    Uncover how Full Truck Alliance's forecasts yield a $14.52 fair value, a 25% upside to its current price.

    Exploring Other Perspectives

    YMM 1-Year Stock Price Chart
    YMM 1-Year Stock Price Chart

    Five Simply Wall St Community valuations span roughly US$13 to US$35 per share, showing how far apart individual views on Full Truck Alliance can be. When you set those opinions against the recent strength in core transaction service revenues and the ongoing pressure in freight brokerage, it becomes clear why examining several independent perspectives on the company’s future profitability is essential.

    Explore 5 other fair value estimates on Full Truck Alliance - why the stock might be worth over 3x more than the current price!

    Build Your Own Full Truck Alliance Narrative

    Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

    • A great starting point for your Full Truck Alliance research is our analysis highlighting 4 key rewards that could impact your investment decision.
    • Our free Full Truck Alliance research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Full Truck Alliance's overall financial health at a glance.

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.