New York, June 1, 2026, 07:03 (EDT)
- YMM traded flat in premarket action after ending Friday at $8.82.
- Cederberg Capital sold out of the stock in Q1, according to a report over the weekend.
- Latest results showed the company’s orders went up, but net income dropped.
Full Truck Alliance shares in the U.S. barely moved in early premarket hours Monday. Investors looked at a new report on a fund exit, while the company’s order base continues to grow. The stock finished Friday at $8.82, down 0.34%. Google Finance listed a premarket price at $8.83.
YMM heads into a regular NYSE session Monday after the holiday-shortened U.S. trading week. According to the NYSE’s 2026 calendar, Memorial Day is May 25 and Juneteenth is June 19, both holidays when the market is closed. But June 1 stays a normal trading day.
Full Truck Alliance shares came under fresh pressure after a May 31 Motley Fool report said Cederberg Capital dumped its full position of 1,828,900 shares during the first quarter, erasing about $20 million from its books. The move was disclosed via a 13F filing, which is the standard quarterly look at U.S. institutional portfolios. Such filings can trail behind actual trades by weeks.
The report noted YMM fell 24% over the past year through Friday, while the S&P 500 gained around 28%. That spread is part of why even an old fund filing can move the stock: it fuels the argument over whether sellers of Chinese ADRs are ignoring Full Truck’s business numbers.
Full Truck, a digital freight platform linking shippers and truck drivers in China, reported a 5.5% jump in first-quarter revenue to RMB2.85 billion. Net income dropped to RMB994.1 million from RMB1.28 billion last year. Fulfilled orders on the platform climbed 14.3% to 55.0 million.
Chief Executive Peter Hui Zhang said the “strengthening network effects” were clear in the results. President Langbo Guo called out a “revenue mix improvements” as transaction-service revenue rose 33.1% to RMB1.39 billion. Transaction-service revenue counts money earned on freight orders that go through the platform, not from listing fees or brokerage. InvestorRoom
Profit came in weak. Full Truck reported value-added services revenue dropped to RMB376.0 million from RMB452.8 million, citing a fall in credit-solutions revenue. The non-performing loan ratio climbed to 3.2% from 2.9% at the end of 2025. Non-performing loans are loans where payments are overdue, serving as a standard measure of credit strain.
Full Truck Alliance gave a mixed outlook. It sees second-quarter total net revenue between RMB3.07 billion and RMB3.17 billion, trailing last year’s RMB3.24 billion. But revenue excluding freight brokerage should climb 7.1% to 11.7%. The board cleared a Q2 cash dividend of $0.084 per ADS, set to pay around July 21.
Risk appetite looked calm before the bell. SPDR S&P 500 ETF Trust and Invesco QQQ Trust were quoted up in premarket moves. KraneShares CSI China Internet ETF, which tracks U.S.-listed Chinese internet stocks, also ticked higher.
The list of options is short for U.S. investors. GOGOX Holdings trades in Hong Kong and offers logistics and delivery platform services matching users with delivery providers. But Full Truck is still the main U.S.-listed way to play China’s long-haul digital freight market.
The next move for the stock is still unclear. Freight brokerage might keep shrinking, credit losses could climb, or long-haul shipping demand could get hit if diesel-price swings slow things down. That could leave order growth unable to shift the market view. Simon Cai, chief financial and investment officer at Full Truck, told analysts higher fuel costs might be a “near-term headwind” for some demand. The company is using fuel-linked pricing and discounts to help truckers. The Motley Fool
