This China Logistics Platform Generated $1.8 Billion in Revenue Last Year, but One Investor Exited a $6 Million Stake

1 hour ago 2

Jonathan Ponciano, The Motley Fool

Thu, March 12, 2026 astatine 12:21 PM CDT 4 min read

On February 17, 2026, Beaconlight Capital disclosed a afloat exit from Full Truck Alliance (NYSE:YMM), selling 458,277 shares antecedently worthy $5.94 million.

According to a Securities and Exchange Commission (SEC) filing dated February 17, 2026, Beaconlight Capital sold each 458,277 shares of Full Truck Alliance during the 4th quarter. The money reported holding zero shares of YMM astatine 4th end, with the position’s worth declining by $5.94 cardinal implicit the period.

Top holdings aft the filing:
- NYSE:CSTM: $25.26 cardinal (14.8% of AUM)
- NYSE:REZI: $24.35 cardinal (14.2% of AUM)
- NYSE:SXT: $12.97 cardinal (7.6% of AUM)
- NYSE:GPOR: $9.69 cardinal (5.7% of AUM)
- NYSE:TECK: $9.16 cardinal (5.3% of AUM)
As of February 17, 2026, shares of Full Truck Alliance were priced astatine $9, down astir 25% implicit the past twelvemonth and good underperforming the S&P 500’s astir 20% summation successful the aforesaid period.

Metric

Value

Price (as of Thursday)	$9
Market capitalization	$9.4 billion
Revenue (TTM)	$1.81 billion
Net income (TTM)	$576.01 million

Full Truck Alliance offers a integer freight level providing freight listing, matching, brokerage, online transaction services, and value-added offerings specified arsenic credit, insurance, toll collection, and vigor services.
The steadfast monetizes by facilitating transactions betwixt shippers and truckers, earning fees from freight brokerage, online services, and ancillary fiscal and exertion solutions.
It serves shippers and truckers crossed China, targeting businesses and individuals requiring cargo transport implicit assorted distances and cargo types.

Full Truck Alliance operates astatine standard arsenic a starring integer freight level successful China, connecting shippers and truckers done technology-driven solutions. Its integrated level enables businesslike freight matching and transaction execution, supported by a suite of value-added services.

Shares of Full Truck Alliance person had a unsmooth agelong amid broader capitalist scrutiny astir China-based stocks, but the steadfast continues to grow its ecosystem crossed China’s trucking market. In 2025, gross climbed 11% to astir $1.79 cardinal portion nett income jumped 43% to astir $637 million, reflecting beardown profitability for a marketplace-style logistics platform. Activity connected the web besides continued to grow, with fulfilled orders rising to much than 236 cardinal during the twelvemonth and mean shipper monthly users expanding to implicit 3 million.

Those metrics suggest the platform’s coref motor remains steadfast adjacent arsenic its banal has struggled. Logistics marketplaces often look cyclical unit tied to freight demand, but their underlying networks tin stay resilient arsenic agelong arsenic users support transacting. In a statement, CEO Peter Hui Zhang acknowledged the “complex marketplace environment” but highlighted the improvements successful idiosyncratic acquisition and profitability during the quarter.

All of this to accidental the exit present doesn’t needfully look similar a definitive telephone connected the company’s prospects, possibly much conscionable immoderate skepticism astir its broader ecosystem.

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