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    Juan Liao

    Research Analyst at China International Capital Corporation

    Juan Liao is an equity analyst at China International Capital Corporation (CICC), specializing in coverage of financial services and consumer sectors within China. She has built direct analytical relationships with firms such as CITIC Securities and is recognized for her expertise in evaluating companies with significant operational footprints in finance, consumer services, and technology. With a career spanning multiple years, including analyst roles at CITIC Securities, Juan brings experience in investment research and equity analysis for institutional clients. Her professional background does not openly disclose credentialing such as FINRA registrations or securities licenses, nor widely published quantitative performance metrics, though she is noted for her network and analytical roles within major investment banks in China.

    Juan Liao's questions to Full Truck Alliance (YMM) leadership

    Juan Liao's questions to Full Truck Alliance (YMM) leadership • Q4 2024

    Question

    Juan Liao asked for the main reasons behind the RMB 350 million impairment loss recorded in Q4 and requested guidance on potential impairments in the near future.

    Answer

    CFO Chong Cai explained that the impairment was a one-off charge related to a 2018 investment in an e-commerce platform for auto parts that is now deemed beyond recovery. He assured that the company is not aware of any other situations that would lead to similar impairments and will maintain a prudent investment approach going forward.

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