Full Truck Alliance Balance Sheet

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	6,066	5,810	6,771	5,137	4,284
Short-Term Investments	11,048	15,003	11,516	20,386	19,621
Trading Asset Securities	-	-	-	700.62	2,013
Cash & Short-Term Investments	17,114	20,813	18,287	26,224	25,919
Cash Growth	-17.77%	13.81%	-30.27%	1.18%	37.93%
Accounts Receivable	75.13	19.64	23.42	13.02	36.21
Other Receivables	-	1,902	1,690	1,917	868.17
Receivables	4,926	6,121	5,234	4,578	2,682
Restricted Cash	70.29	100.53	115.51	83.76	65.82
Other Current Assets	940.55	221.23	359.84	117.48	231.44
Total Current Assets	23,052	27,256	23,997	31,004	28,898
Property, Plant & Equipment	549.71	405.27	329.44	240.82	102.16
Long-Term Investments	15,312	9,876	11,076	1,774	1,678
Goodwill	4,025	3,125	3,125	3,125	3,125
Other Intangible Assets	757.41	393.48	449.9	502.42	557.02
Long-Term Deferred Tax Assets	249.55	92.88	149.08	41.49	20.49
Other Long-Term Assets	376.51	138.53	221.67	8.43	17.35
Total Assets	44,322	41,287	39,348	36,696	34,398
Accounts Payable	37.75	31.23	25.22	27.95	29.38
Accrued Expenses	1,691	1,338	1,323	1,168	1,223
Short-Term Debt	-	-	-	-	9
Current Portion of Leases	33.85	41.2	37.76	44.59	-
Current Income Taxes Payable	421.71	336.22	154.92	52.23	31.54
Current Unearned Revenue	637.49	571.19	548.92	462.08	383.24
Other Current Liabilities	29.67	702.52	1,184	976.86	1,057
Total Current Liabilities	2,851	3,020	3,275	2,732	2,734
Long-Term Leases	1.49	23.93	46.71	35.93	-
Long-Term Deferred Tax Liabilities	197.91	107.98	131.54	121.61	135.76
Total Liabilities	3,050	3,152	3,453	2,889	2,870
Common Stock	1.35	1.34	1.37	1.38	1.42
Additional Paid-In Capital	44,328	45,824	47,714	47,758	49,246
Retained Earnings	-7,020	-11,372	-14,401	-16,613	-17,020
Treasury Stock	-	-	-608.12	-	-
Comprehensive Income & Other	2,722	3,224	2,898	2,511	-771.49
Total Common Equity	40,031	37,677	35,605	33,657	31,455
Minority Interest	1,240	458.45	290.22	149.77	73.44
Shareholders' Equity	41,272	38,135	35,895	33,807	31,529
Total Liabilities & Equity	44,322	41,287	39,348	36,696	34,398
Total Debt	35.33	65.13	84.47	80.52	9
Net Cash (Debt)	17,079	20,748	18,203	26,144	25,910
Net Cash Growth	-17.68%	13.98%	-30.38%	0.90%	37.88%
Net Cash Per Share	16.32	19.85	17.20	24.23	38.54
Filing Date Shares Outstanding	1,042	1,046	1,046	1,070	1,108
Total Common Shares Outstanding	1,042	1,038	1,045	1,062	1,091
Working Capital	20,201	24,236	20,722	28,272	26,164
Book Value Per Share	38.41	36.28	34.07	31.70	28.82
Tangible Book Value	35,248	34,158	32,030	30,030	27,774
Tangible Book Value Per Share	33.83	32.89	30.65	28.28	25.45
Buildings	-	63	63	63	-
Machinery	-	66.78	70.94	79.02	70.87
Construction In Progress	-	194.69	89.04	5.42	63
Leasehold Improvements	-	76.78	74.7	68.35	52.27

Updated Mar 12, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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