Full Truck Alliance to increase service fee rate for freight brokerage service

Full Truck Alliance (YMM) announced changes to its freight brokerage service. To ensure sustainability of its freight brokerage service, the company has decided to increase the service fee rate for freight brokerage service to reduce such service’s reliance on government grants and potential uncertainties. The company understands that such changes may increase costs to shippers. The company expects that, starting from the quarter ending September 30, 2025, the transaction volume of its freight brokerage service will significantly decline, resulting in a decline in revenue from freight brokerage service, while the cost of revenue for such service will increase, which may adversely affect the company’s profit to certain extent.