Organization and Nature of Operations

12 Months Ended

Dec. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Nature of Operations

1. ORGANIZATION AND NATURE OF OPERATIONS

Description of Business

Full Truck Alliance Co. Ltd. (the “Company”) was incorporated under the laws of the Cayman Islands on December 27, 2017. The Company through its subsidiaries and variable interest entities (“VIEs” and VIE’s subsidiaries) (collectively, the “Group”) primarily provides comprehensive services for shippers and truckers through its mobile and website platforms. The Group’s principal operations and geographic markets are in the People’s Republic of China (“PRC”).

As of December 31, 2024, the Company’s major subsidiaries and consolidated VIEs are as follows:

Name of Company	Place of incorporation	Date of incorporation	Percentage of direct or indirect economic ownership		Principal activities
Subsidiaries
Full Truck Alliance (HK) Limited (“FTA HK”)	Hong Kong	January 7, 2016		100%	Investment holding
Lucky Logistics Information Limited (“Lucky Logistics”)	Hong Kong	April 8, 2014		100%	Investment holding
FTA Information Technology Co., Ltd. (“FTA Information”) (Wholly foreign owned enterprises “WFOE”) (formerly known as FTA Information Consulting Co., Ltd)	PRC	April 20, 2016		100%	Technology development and other services
Jiangsu Yunmanman Information Technology Co., Limited (“Jiangsu Yunmanman”, “WFOE”) (formerly known as Jiangsu Manyun Logistics Information Co., Limited)	PRC	August 29, 2014		100%	Technology development and other services
Yixing Manxian Information Technology Co., Ltd (“Yixing Manxian”, “WFOE’s subsidiary”)	PRC	May 24, 2022		57.6%	Investment holding
Guiyang Huochebang Technology Co., Limited (“Guiyang Huochebang”)	PRC	March 11, 2014		100%	Value-added services
Guizhou Huochebang Micro-finance Co., Ltd. (“Huochebang Microfinance”)	PRC	December 20, 2016		100%	Credit solution services
Chengdu Yunli Technology Co., Ltd. (“Chengdu Yunli”)	PRC	January 21, 2011		100%	Credit solution services
Guizhou FTA Logistics Technology Co., Ltd. (“Guizhou FTA”)	PRC	January 14, 2021		100%	Research and development
Nanjing Manxianxian Cold Chain Technology Co., Ltd (“Nanjing Manxianxian”,”WFOE”)	PRC	February 21, 2023		57.6%	Technology development and other services

Name of Company	Place of incorporation	Date of incorporation	Percentage of direct or indirect economic ownership		Principal activities
VIEs
Guiyang Shan’en Technology Co., Ltd. (“Shan’en Technology”)	PRC	September 19, 2016		100%	Freight matching services(1)
Jiangsu Manyun Software Technology Co. Ltd. (“Manyun Software”)	PRC	October 20, 2016		100%	Freight matching services and value added services
Nanjing Manyun Cold Chain Technology Co., Ltd (“Manyun Cold Chain”)	PRC	March 9, 2021		57.6%	Freight matching services
VIEs’ subsidiaries
Guiyang Shan’en Insurance Brokerage Co., Ltd (“Shan’en Insurance”)	PRC	May 9, 2017		100%	Insurance services
Tianjin Manyun Software Technology Co., Ltd (“Tianjin Manyun”)	PRC	November 8, 2018		100%	Freight matching services
Gui’an New District FTA Logistics Technology Co., Ltd (“Gui’an Logistics”)	PRC	November 24, 2021		100%	Freight matching services
Suqian Manyun Software Technology Co., Ltd (“Suqian Manyun”)	PRC	December 11, 2023		100%	Freight matching services

(1) Freight matching services consist of freight brokerage service, freight listing service and transaction service.