Full Truck Alliance Co. Ltd. Announces Fourth Quarter and Fiscal Year 2023 Unaudited Financial Results
Fourth Quarter and Fiscal Year 2023 Financial and Operational H ighlights
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Total net revenues in the fourth quarter of 2023 were
RMB2,408.0 million (US$339.2 million ), an increase of 25.3% fromRMB1,922.5 million in the same period of 2022. Total net revenues in 2023 wereRMB8,436.2 million (US$1,188.2 million ), an increase of 25.3% fromRMB6,733.6 million in 2022. -
Net income in the fourth quarter of 2023 was
RMB588.3 million (US$82.9 million ), an increase of 200.6% fromRMB195.7 million in the same period of 2022. Net income in 2023 wasRMB2,227.1 million (US$313.7 million ), an increase of 440.7% fromRMB411.9 million in 2022. -
Non-GAAP adjusted net income[1] in the fourth quarter of 2023 was
RMB733.0 million (US$103.2 million ), an increase of 64.4% fromRMB445.8 million in the same period of 2022. Non-GAAP adjusted net income in 2023 wasRMB2,797.0 million (US$394.0 million ), an increase of 100.4% fromRMB1,395.4 million in 2022. -
Fulfilled orders[2]in the fourth quarter of 2023 reached 45.8 million, an increase of 40.4% from 32.6 million in the same period of 2022. Fulfilled orders in 2023 reached 158.8 million, an increase of 33.4% from 119.1 million in 2022.
- Average shipper MAUs[3]in the fourth quarter of 2023 reached 2.24 million, an increase of 18.7% from 1.88 million in the same period of 2022. Average shipper MAUs in 2023 reached 2.03 million, an increase of 21.3% from 1.67 million in 2022.
Mr.
Mr.
[1] Non-GAAP adjusted net income is defined as net income excluding (i) share-based compensation expense; (ii) amortization of intangible assets resulting from business acquisitions; (iii) compensation cost incurred in relation to continuing service terms in business acquisitions; (iv) settlement in principle of |
[2] Fulfilled orders on our platform in a given period are defined as all shipping orders matched through our platform during such period but exclude (i) shipping orders that are subsequently canceled and (ii) shipping orders for which our users failed to specify any freight prices as there are substantial uncertainties as to whether the shipping orders are fulfilled. |
[3] Average shipper MAUs in a given period are calculated by dividing (i) the sum of shipper MAUs for each month of a given period by (ii) the number of months in a given period. Shipper MAUs are defined as the number of active shippers on our platform in a given month. Active shippers are defined as the aggregate number of registered shipper accounts that have posted at least one shipping order on our platform during a given period. |
Fourth Quarter 2023 Financial Results
Net Revenues
(including value added taxes, or "VAT," of
Freight matching services. Revenues from freight matching services in the fourth quarter of 2023 were
-
Freight brokerage service. Revenues from freight brokerage service in the fourth quarter of 2023 were
RMB1,124 .7 million (US$158 .4 million), an increase of 19.2% fromRMB943.6 million in the same period of 2022, primarily attributable to an increase in transaction volume due to robust user demand. -
Freight listing service. Revenues from freight listing service in the fourth quarter of 2023 were
RMB246.2 million (US$34.7 million ), an increase of 10.4% fromRMB223.1 million in the same period of 2022, primarily due to a growing number of total paying members. -
Transaction commission. Revenues from transaction commissions amounted to
RMB644 .8 million (US$90 .8 million) in the fourth quarter of 2023, an increase of 44.0% fromRMB447.8 million in the same period of 2022, primarily driven by strong order volume growth as well as higher per-order transaction commission.
Value-added services. Revenues from value-added services in the fourth quarter of 2023 were
Cost of Revenues
(including VAT net of refund of VAT of
Sales and Marketing Expenses.
Sales and marketing expenses in the fourth quarter of 2023 were
General and Administrative Expenses.
General and administrative expenses in the fourth quarter of 2023 were
Research and Development Expenses.
Research and development expenses in the fourth quarter of 2023 were
Income/(Loss) from Operations
. Income from operations in the fourth quarter of 2023 was
Non-GAAP Adjusted Operating Income.[4]
Non-GAAP adjusted operating income in the fourth quarter of 2023 was
Net Income.
Net income in the fourth quarter of 2023 was
Non-GAAP Adjusted Net Income
. Non-GAAP adjusted net income in the fourth quarter of 2023 was
Basic and Diluted Net Income per ADS[5] and Non-GAAP Adjusted Basic and Diluted Net Income per ADS.[6]
Basic and diluted net income per ADS were
Balance Sheet and Cash Flow
As of
As of
In the fourth quarter of 2023, net cash provided by operating activities was
[4] Non-GAAP adjusted operating income is defined as income/(loss) from operations excluding (i) share-based compensation expense; (ii) amortization of intangible assets resulting from business acquisitions; (iii) compensation cost incurred in relation to continuing service terms in business acquisitions and (iv) settlement in principle of |
[5] ADS refers to American depositary shares, each of which represents 20 Class A ordinary shares. |
[6] Non-GAAP adjusted basic and diluted net income per ADS is net income attributable to ordinary shareholders excluding (i) share-based compensation expense; (ii) amortization of intangible assets resulting from business acquisitions; (iii) compensation cost incurred in relation to continuing service terms in business acquisitions; (iv) settlement in principle of |
[7] Non-performing loan ratio is calculated by dividing the outstanding principal and all accrued and unpaid interests of the on-balance sheet loans that were over 90 calendar days past due (excluding loans that are over 180 days past due and are therefore charged off) by the total outstanding principal and all accrued and unpaid interests of the on-balance sheet loans (excluding loans that are over 180 days past due and are therefore charged off) as of a specified date. |
Fiscal Year 2023 Financial Results
Net Revenues
(including value added taxes, or "VAT," of
Freight matching services. Revenues from freight matching services in 2023 were
-
Freight brokerage service. Revenues from freight brokerage service in 2023 were
RMB3,916 .4 million (US$551 .6 million), an increase of 16.5% fromRMB3,360.3 million in 2022, primarily driven by an increase in transaction volume as a result of improved user penetration. -
Freight listing service. Revenues from freight listing service in 2023 were
RMB929 .4 million (US$130 .9 million), an increase of 9.0% fromRMB852.4 million in 2022, primarily attributable to a growing number of total paying members. -
Transaction commission. Revenues from transaction commissions amounted to
RMB2,203.1million (US$310 .3 million) in 2023, an increase of 52.6% fromRMB1,444.0 million in 2022, primarily driven by an increased order volume as well as higher per-order transaction commission.
Value-added services. Revenues from value-added services in 2023 were
Cost of Revenues
(including VAT net of refund of VAT of
Sales and Marketing Expenses.
Sales and marketing expenses in 2023 were
General and Administrative Expenses.
General and administrative expenses in 2023 were
Research and Development Expenses.
Research and development expenses in 2023 were
Income/(Loss) from Operations.
Income from operations in 2023 was
Non-GAAP Adjusted Operating Income.
Non-GAAP adjusted operating income in 2023 was
Net Income.
Net income in 2023 was
Non-GAAP Adjusted Net Income.
Non-GAAP adjusted net income in 2023 was
Basic and Diluted Net Income per ADS and Non-GAAP Adjusted Basic and Diluted Net Income per ADS. Basic net income per ADS was
Business Outlook
The Company expects its total net revenues to be between
Share Repurchase Update
On
Exchange Rate Information
This announcement contains translations of certain RMB amounts into
Conference Call
The Company's management will hold an earnings conference call at
Dial-in details for the earnings conference call are as follows:
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+1-888-317-6003 |
International: |
+1-412-317-6061 |
Mainland |
400-120-6115 |
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800-963-976 |
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+852-5808-1995 |
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08082389063 |
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800-120-5863 |
Access Code: |
9049178 |
The replay will be accessible through
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+1-877-344-7529 |
International: |
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+1-412-317-0088 |
Replay Access Code: |
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5149135 |
A live and archived webcast of the conference call will also be available on the Company's investor relations website at ir.fulltruckalliance.com.
About
Use of Non-GAAP Financial Measures
The Company uses non-GAAP adjusted operating income, non-GAAP adjusted net income, non-GAAP adjusted net income attributable to ordinary shareholders, non-GAAP adjusted basic and diluted net income per share and non-GAAP adjusted basic and diluted net income per ADS, each a non-GAAP financial measure, as supplemental measures to review and assess its operating performance.
The presentation of non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with
The non-GAAP financial measures are not defined under
The Company reconciles the non-GAAP financial measures to the nearest
For more information on these non-GAAP financial measures, please see the table captioned "Reconciliations of GAAP and Non-GAAP Results" set forth at the end of this release.
Safe Harbor Statement
This press release contains statements that may constitute "forward-looking" statements which are made pursuant to the "safe harbor" provisions of the
For investor and media inquiries, please contact:
In
E-mail: IR@amh-group.com
Tel: +86-10-6508-0677
E-mail: FTA@thepiacentegroup.com
In
Tel: +1-212-481-2050
E-mail: FTA@thepiacentegroup.com
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UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS |
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(All amounts in thousands, except share, ADS, per share and per ADS data) |
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As of |
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2022 |
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2023 |
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2023 |
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RMB |
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RMB |
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US$ |
ASSETS |
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Current assets: |
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Cash and cash equivalents |
5,137,312 |
|
6,770,895 |
|
953,661 |
Restricted cash – current |
83,759 |
|
115,513 |
|
16,270 |
Short-term investments |
21,087,089 |
|
11,516,304 |
|
1,622,037 |
Accounts receivable, net |
13,015 |
|
23,418 |
|
3,298 |
Loans receivable, net |
2,648,449 |
|
3,521,072 |
|
495,933 |
Prepayments and other current assets |
2,034,427 |
|
2,049,780 |
|
288,705 |
Total current assets |
31,004,051 |
|
23,996,982 |
|
3,379,904 |
Restricted cash – non-current |
— |
|
10,000 |
|
1,408 |
Long-term investments1 |
1,774,270 |
|
11,075,739 |
|
1,559,985 |
Property and equipment, net |
108,824 |
|
194,576 |
|
27,405 |
Intangible assets, net |
502,421 |
|
449,904 |
|
63,368 |
|
3,124,828 |
|
3,124,828 |
|
440,123 |
Deferred tax assets |
41,490 |
|
149,081 |
|
20,998 |
Operating lease right-of-use assets and land use rights |
132,000 |
|
134,867 |
|
18,996 |
Other non-current assets |
8,427 |
|
211,670 |
|
29,813 |
Total non-current assets |
5,692,260 |
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15,350,665 |
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2,162,096 |
TOTAL ASSETS |
36,696,311 |
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39,347,647 |
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5,542,000 |
LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY |
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Current liabilities: |
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Accounts payable |
27,953 |
|
25,220 |
|
3,552 |
Amount due to related parties |
122,152 |
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— |
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— |
Prepaid for freight listing fees and other service fees |
462,080 |
|
548,917 |
|
77,313 |
Income tax payable |
52,233 |
|
154,916 |
|
21,819 |
Other tax payable |
721,597 |
|
784,617 |
|
110,511 |
Operating lease liabilities – current |
44,590 |
|
37,758 |
|
5,318 |
Accrued expenses and other current liabilities |
1,301,160 |
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1,723,245 |
|
242,714 |
Total current liabilities |
2,731,765 |
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3,274,673 |
|
461,227 |
Deferred tax liabilities |
121,611 |
|
108,591 |
|
15,295 |
Operating lease liabilities – non-current |
35,931 |
|
46,709 |
|
6,579 |
Other non-current liabilities |
— |
|
22,950 |
|
3,232 |
Total non-current liabilities |
157,542 |
|
178,250 |
|
25,106 |
TOTAL LIABILITIES |
2,889,307 |
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3,452,923 |
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486,333 |
MEZZANINE EQUITY |
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Redeemable non-controlling interests |
149,771 |
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277,420 |
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39,074 |
SHAREHOLDERS' EQUITY |
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Ordinary shares |
1,377 |
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1,371 |
|
193 |
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— |
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(608,117) |
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(85,651) |
Additional paid-in capital |
47,758,178 |
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47,713,985 |
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6,720,374 |
Accumulated other comprehensive income |
2,511,170 |
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2,897,871 |
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408,157 |
Accumulated deficit |
(16,613,492) |
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(14,400,604) |
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(2,028,283) |
TOTAL |
33,657,233 |
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35,604,506 |
|
5,014,790 |
Non-controlling interests |
— |
|
12,798 |
|
1,803 |
TOTAL SHAREHOLDERS' EQUITY |
33,657,233 |
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35,617,304 |
|
5,016,593 |
TOTAL LIABILITIES, MEZZANINE EQUITY AND EQUITY |
36,696,311 |
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39,347,647 |
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5,542,000 |
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1. The Group's long-term investments consist of |
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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME |
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(All amounts in thousands, except share, ADS, per share and per ADS data) |
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Three months ended |
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Year ended |
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2022 |
|
2023 |
|
2023 |
|
2023 |
|
2022 |
|
2023 |
|
2023 |
|
RMB |
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RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
Net revenues (including value added taxes, |
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"VAT", of |
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ended |
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respectively) |
1,922,473 |
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2,263,917 |
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2,407,957 |
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339,154 |
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6,733,644 |
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8,436,159 |
|
1,188,210 |
Operating expenses: |
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Cost of revenues (including VAT net of |
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refund of VAT of |
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and |
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months ended |
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and 2023, |
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ended |
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2023, respectively)(1) |
(951,779) |
|
(1,142,057) |
|
(1,152,317) |
|
(162,300) |
|
(3,514,551) |
|
(4,119,016) |
|
(580,151) |
Sales and marketing expenses(1) |
(281,129) |
|
(290,782) |
|
(420,960) |
|
(59,291) |
|
(902,269) |
|
(1,239,191) |
|
(174,536) |
General and administrative expenses(1) |
(408,181) |
|
(290,443) |
|
(266,016) |
|
(37,468) |
|
(1,417,933) |
|
(937,677) |
|
(132,069) |
Research and development expenses(1) |
(250,207) |
|
(237,716) |
|
(255,344) |
|
(35,964) |
|
(914,151) |
|
(946,635) |
|
(133,331) |
Provision for loans receivable |
(53,900) |
|
(62,948) |
|
(67,627) |
|
(9,525) |
|
(194,272) |
|
(234,599) |
|
(33,043) |
Total operating expenses |
(1,945,196) |
|
(2,023,946) |
|
(2,162,264) |
|
(304,548) |
|
(6,943,176) |
|
(7,477,118) |
|
(1,053,130) |
Other operating income |
17,453 |
|
7,089 |
|
5,123 |
|
722 |
|
47,530 |
|
38,388 |
|
5,407 |
(Loss) income from operations |
(5,270) |
|
247,060 |
|
250,816 |
|
35,328 |
|
(162,002) |
|
997,429 |
|
140,487 |
Other income (expense) |
|
|
|
|
|
|
|
|
|
|
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|
Interest income |
202,324 |
|
297,249 |
|
313,037 |
|
44,090 |
|
483,658 |
|
1,141,861 |
|
160,828 |
Interest expenses |
— |
|
— |
|
— |
|
— |
|
(175) |
|
— |
|
— |
Foreign exchange gain (loss) |
1,531 |
|
585 |
|
(2,909) |
|
(410) |
|
15,048 |
|
(2,149) |
|
(303) |
Investment income |
1,212 |
|
22,605 |
|
25,832 |
|
3,638 |
|
5,411 |
|
55,621 |
|
7,834 |
Unrealized gain (loss) from fair value |
|
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changes of trading securities and |
|
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|
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|
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derivative assets |
4,986 |
|
(12,124) |
|
6,833 |
|
962 |
|
(63,390) |
|
12,938 |
|
1,822 |
Other income, net |
5,085 |
|
116,885 |
|
2,457 |
|
346 |
|
230,631 |
|
130,264 |
|
18,347 |
Share of loss in equity method investees |
(73) |
|
(236) |
|
(825) |
|
(116) |
|
(1,246) |
|
(2,067) |
|
(291) |
Total other income |
215,065 |
|
424,964 |
|
344,425 |
|
48,510 |
|
669,937 |
|
1,336,468 |
|
188,237 |
Net income before income tax |
209,795 |
|
672,024 |
|
595,241 |
|
83,838 |
|
507,935 |
|
2,333,897 |
|
328,724 |
Income tax expense |
(14,110) |
|
(53,601) |
|
(6,991) |
|
(985) |
|
(96,035) |
|
(106,804) |
|
(15,043) |
Net income |
195,685 |
|
618,423 |
|
588,250 |
|
82,853 |
|
411,900 |
|
2,227,093 |
|
313,681 |
Less: net (loss) income attributable to |
|
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|
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|
|
|
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non-controlling interests |
— |
|
(675) |
|
(591) |
|
(83) |
|
539 |
|
(1,252) |
|
(176) |
Less: measurement adjustment |
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attributable to redeemable non- |
|
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|
|
|
|
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controlling interest |
1,845 |
|
4,745 |
|
4,752 |
|
669 |
|
4,599 |
|
15,457 |
|
2,177 |
Net income attributable to |
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ordinary shareholders |
193,840 |
|
614,353 |
|
584,089 |
|
82,267 |
|
406,762 |
|
2,212,888 |
|
311,680 |
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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME (CONTINUED) |
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(All amounts in thousands, except share, ADS, per share and per ADS data) |
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Three months ended |
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Year ended |
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2022 |
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2023 |
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2023 |
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2023 |
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2022 |
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2023 |
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2023 |
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RMB |
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RMB |
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RMB |
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US$ |
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RMB |
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RMB |
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US$ |
Net income per ordinary |
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share |
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—Basic |
0.01 |
|
0.03 |
|
0.03 |
|
0.00 |
|
0.02 |
|
0.10 |
|
0.01 |
—Diluted |
0.01 |
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0.03 |
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0.03 |
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0.00 |
|
0.02 |
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0.10 |
|
0.01 |
Net income per ADS* |
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—Basic |
0.18 |
|
0.58 |
|
0.56 |
|
0.08 |
|
0.38 |
|
2.10 |
|
0.30 |
—Diluted |
0.18 |
|
0.58 |
|
0.56 |
|
0.08 |
|
0.38 |
|
2.09 |
|
0.29 |
Weighted average number |
|
|
|
|
|
|
|
|
|
|
|
|
|
of ordinary shares used |
|
|
|
|
|
|
|
|
|
|
|
|
|
in computing net |
|
|
|
|
|
|
|
|
|
|
|
|
|
income per share |
|
|
|
|
|
|
|
|
|
|
|
|
|
—Basic |
21,246,855,688 |
|
21,025,267,682 |
|
20,949,011,129 |
|
20,949,011,129 |
|
21,517,856,981 |
|
21,111,924,886 |
|
21,111,924,886 |
—Diluted(2) |
21,305,376,233 |
|
21,059,252,652 |
|
21,016,273,541 |
|
21,016,273,541 |
|
21,579,616,389 |
|
21,162,351,461 |
|
21,162,351,461 |
Weighted average number |
|
|
|
|
|
|
|
|
|
|
|
|
|
of ADS used in |
|
|
|
|
|
|
|
|
|
|
|
|
|
computing net |
|
|
|
|
|
|
|
|
|
|
|
|
|
income per ADS |
|
|
|
|
|
|
|
|
|
|
|
|
|
—Basic |
1,062,342,784 |
|
1,051,263,384 |
|
1,047,450,556 |
|
1,047,450,556 |
|
1,075,892,849 |
|
1,055,596,244 |
|
1,055,596,244 |
—Diluted(2) |
1,065,268,812 |
|
1,052,962,633 |
|
1,050,813,677 |
|
1,050,813,677 |
|
1,078,980,819 |
|
1,058,117,573 |
|
1,058,117,573 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Each ADS represents 20 ordinary shares. |
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Share-based compensation expense in operating expenses are as follows: |
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended |
|
Year ended |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2022 |
|
2023 |
|
2023 |
|
2023 |
|
2022 |
|
2023 |
|
2023 |
|
RMB |
|
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
Cost of revenues |
1,812 |
|
2,796 |
|
2,593 |
|
365 |
|
6,406 |
|
8,576 |
|
1,208 |
Sales and marketing |
|
|
|
|
|
|
|
|
|
|
|
|
|
expenses |
12,163 |
|
15,217 |
|
16,014 |
|
2,256 |
|
39,771 |
|
55,503 |
|
7,817 |
General and administrative |
|
|
|
|
|
|
|
|
|
|
|
|
|
expenses |
201,514 |
|
81,249 |
|
89,255 |
|
12,571 |
|
809,194 |
|
297,469 |
|
41,898 |
Research and development |
|
|
|
|
|
|
|
|
|
|
|
|
|
expenses |
19,749 |
|
22,938 |
|
22,813 |
|
3,213 |
|
63,884 |
|
80,279 |
|
11,307 |
Total |
235,238 |
|
122,200 |
|
130,675 |
|
18,405 |
|
919,255 |
|
441,827 |
|
62,230 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(2) Weighted average number of ordinary shares/ADS used in computing diluted net income per share/ADS are adjusted by |
|
|||||||||||||
|
|||||||||||||
RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS |
|||||||||||||
(All amounts in thousands, except share, ADS, per share and per ADS data) |
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended |
|
Year ended |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2022 |
|
2023 |
|
2023 |
|
2023 |
|
2022 |
|
2023 |
|
2023 |
|
RMB |
|
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
(Loss) income from |
|
|
|
|
|
|
|
|
|
|
|
|
|
operations |
(5,270) |
|
247,060 |
|
250,816 |
|
35,328 |
|
(162,002) |
|
997,429 |
|
140,487 |
Add: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Share-based |
|
|
|
|
|
|
|
|
|
|
|
|
|
compensation |
|
|
|
|
|
|
|
|
|
|
|
|
|
expense |
235,238 |
|
122,200 |
|
130,675 |
|
18,405 |
|
919,255 |
|
441,827 |
|
62,230 |
Amortization of |
|
|
|
|
|
|
|
|
|
|
|
|
|
intangible assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
resulting from |
|
|
|
|
|
|
|
|
|
|
|
|
|
business acquisitions |
14,121 |
|
13,021 |
|
13,021 |
|
1,834 |
|
56,484 |
|
52,084 |
|
7,336 |
Compensation cost |
|
|
|
|
|
|
|
|
|
|
|
|
|
incurred in relation |
|
|
|
|
|
|
|
|
|
|
|
|
|
to acquisitions |
4,281 |
|
4,281 |
|
4,281 |
|
603 |
|
21,914 |
|
17,124 |
|
2,412 |
Settlement in principle |
|
|
|
|
|
|
|
|
|
|
|
|
|
of |
|
|
|
|
|
|
|
|
|
|
|
|
|
class action |
— |
|
71,900 |
|
— |
|
— |
|
— |
|
71,900 |
|
10,127 |
Non-GAAP adjusted |
|
|
|
|
|
|
|
|
|
|
|
|
|
operating income |
248,370 |
|
458,462 |
|
398,793 |
|
56,170 |
|
835,651 |
|
1,580,364 |
|
222,592 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
195,685 |
|
618,423 |
|
588,250 |
|
82,853 |
|
411,900 |
|
2,227,093 |
|
313,681 |
Add: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Share-based |
|
|
|
|
|
|
|
|
|
|
|
|
|
compensation |
|
|
|
|
|
|
|
|
|
|
|
|
|
expense |
235,238 |
|
122,200 |
|
130,675 |
|
18,405 |
|
919,255 |
|
441,827 |
|
62,230 |
Amortization of |
|
|
|
|
|
|
|
|
|
|
|
|
|
intangible assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
resulting from |
|
|
|
|
|
|
|
|
|
|
|
|
|
business acquisitions |
14,121 |
|
13,021 |
|
13,021 |
|
1,834 |
|
56,484 |
|
52,084 |
|
7,336 |
Compensation cost |
|
|
|
|
|
|
|
|
|
|
|
|
|
incurred in relation |
|
|
|
|
|
|
|
|
|
|
|
|
|
to acquisitions |
4,281 |
|
4,281 |
|
4,281 |
|
603 |
|
21,914 |
|
17,124 |
|
2,412 |
Settlement in principle |
|
|
|
|
|
|
|
|
|
|
|
|
|
of |
|
|
|
|
|
|
|
|
|
|
|
|
|
class action |
— |
|
71,900 |
|
— |
|
— |
|
— |
|
71,900 |
|
10,127 |
Tax effects of |
|
|
|
|
|
|
|
|
|
|
|
|
|
non-GAAP |
|
|
|
|
|
|
|
|
|
|
|
|
|
adjustments |
(3,530) |
|
(3,255) |
|
(3,255) |
|
(459) |
|
(14,120) |
|
(13,021) |
|
(1,834) |
Non-GAAP adjusted net |
|
|
|
|
|
|
|
|
|
|
|
|
|
income |
445,795 |
|
826,570 |
|
732,972 |
|
103,236 |
|
1,395,433 |
|
2,797,007 |
|
393,952 |
|
|||||||||||||
|
|||||||||||||
RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS (CONTINUED) |
|||||||||||||
(All amounts in thousands, except share, ADS, per share and per ADS data) |
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended |
|
Year ended |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2022 |
|
2023 |
|
2023 |
|
2023 |
|
2022 |
|
2023 |
|
2023 |
|
RMB |
|
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
Net income attributable |
|
|
|
|
|
|
|
|
|
|
|
|
|
to ordinary |
|
|
|
|
|
|
|
|
|
|
|
|
|
shareholders |
193,840 |
|
614,353 |
|
584,089 |
|
82,267 |
|
406,762 |
|
2,212,888 |
|
311,680 |
Add: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Share-based |
|
|
|
|
|
|
|
|
|
|
|
|
|
compensation |
|
|
|
|
|
|
|
|
|
|
|
|
|
expense |
235,238 |
|
122,200 |
|
130,675 |
|
18,405 |
|
919,255 |
|
441,827 |
|
62,230 |
Amortization of |
|
|
|
|
|
|
|
|
|
|
|
|
|
intangible assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
resulting from |
|
|
|
|
|
|
|
|
|
|
|
|
|
business acquisitions |
14,121 |
|
13,021 |
|
13,021 |
|
1,834 |
|
56,484 |
|
52,084 |
|
7,336 |
Compensation cost |
|
|
|
|
|
|
|
|
|
|
|
|
|
incurred in relation |
|
|
|
|
|
|
|
|
|
|
|
|
|
to acquisitions |
4,281 |
|
4,281 |
|
4,281 |
|
603 |
|
21,914 |
|
17,124 |
|
2,412 |
Settlement in principle |
|
|
|
|
|
|
|
|
|
|
|
|
|
of |
|
|
|
|
|
|
|
|
|
|
|
|
|
class action |
— |
|
71,900 |
|
— |
|
— |
|
— |
|
71,900 |
|
10,127 |
Tax effects of |
|
|
|
|
|
|
|
|
|
|
|
|
|
non-GAAP |
|
|
|
|
|
|
|
|
|
|
|
|
|
adjustments |
(3,530) |
|
(3,255) |
|
(3,255) |
|
(459) |
|
(14,120) |
|
(13,021) |
|
(1,834) |
Non-GAAP adjusted net |
|
|
|
|
|
|
|
|
|
|
|
|
|
income attributable to |
|
|
|
|
|
|
|
|
|
|
|
|
|
ordinary shareholders |
443,950 |
|
822,500 |
|
728,811 |
|
102,650 |
|
1,390,295 |
|
2,782,802 |
|
391,951 |
Non-GAAP adjusted net |
|
|
|
|
|
|
|
|
|
|
|
|
|
income per ordinary |
|
|
|
|
|
|
|
|
|
|
|
|
|
share |
|
|
|
|
|
|
|
|
|
|
|
|
|
—Basic |
0.02 |
|
0.04 |
|
0.03 |
|
0.00 |
|
0.06 |
|
0.13 |
|
0.02 |
—Diluted |
0.02 |
|
0.04 |
|
0.03 |
|
0.00 |
|
0.06 |
|
0.13 |
|
0.02 |
Non-GAAP adjusted net |
|
|
|
|
|
|
|
|
|
|
|
|
|
income per ADS |
|
|
|
|
|
|
|
|
|
|
|
|
|
—Basic |
0.42 |
|
0.78 |
|
0.70 |
|
0.10 |
|
1.29 |
|
2.64 |
|
0.37 |
—Diluted |
0.42 |
|
0.78 |
|
0.69 |
|
0.10 |
|
1.29 |
|
2.63 |
|
0.37 |
View original content:https://www.prnewswire.com/news-releases/full-truck-alliance-co-ltd-announces-fourth-quarter-and-fiscal-year-2023-unaudited-financial-results-302082633.html
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