Wendy Zhang's questions to Full Truck Alliance Co Ltd (YMM) leadership • Q4 2024
Question
Wendy Zhang asked for the reasons behind the 17% year-over-year revenue growth in the freight brokerage service in Q4 and the business outlook for the coming year.
Answer
CFO Chong Cai clarified that the revenue growth was primarily due to a strategic increase in the service fee rate to about 7%, which offset a planned decrease in transaction volume. This adjustment was a proactive measure against potential changes in national VAT policies. For 2025, he stated the company will remain prudent, leading to moderated total revenue growth but expects over 60% YoY growth in adjusted operating profit.