Full Truck Alliance Co. Ltd. Responds to Short-Seller Report

Full Truck Alliance Co. Ltd. (NYSE:YMM) has issued a statement responding to allegations made by J Capital Research USA LLC regarding inflated operating and financial data.

Rhea-AI Summary

Full Truck Alliance Co. Ltd. (NYSE:YMM) has issued a statement responding to allegations made by J Capital Research USA LLC regarding inflated operating and financial data. The Company categorically denies these claims, asserting that the report contains numerous inaccuracies and flawed conclusions. Full Truck Alliance emphasizes its commitment to transparency and high standards of corporate governance, assuring shareholders of the accuracy of its data filed with the U.S. Securities and Exchange Commission. The Company is considering actions to safeguard shareholder interests against the report's unfounded assertions.

Positive

• None.

Negative

• Allegations from J Capital Research could harm the Company’s reputation.
• The report's claims may lead to shareholder concerns regarding transparency and governance.

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GUIYANG, China, Jan. 25, 2023 /PRNewswire/ -- Full Truck Alliance Co. Ltd. ("FTA" or the "Company") (NYSE: YMM), a leading digital freight platform, today issued the following statement in response to a report issued by J Capital Research USA LLC, a short seller, relating to the Company on January 24, 2023.

The Company firmly denies the allegations in the report that it has over-stated or falsified any operating or financial data. The Company maintains the report contains numerous factual inaccuracies, false statements, unsupported speculations and flawed conclusions demonstrating a cursory and incomplete understanding of the Company's industry and business operations. The Company believes the report does not have any merit. The Company is considering the appropriate course of action to protect the interests of all of its shareholders.

The Company stands by the accuracy of its financial and operating data and other information published by the Company and filed with the U.S. Securities and Exchange Commission. The Company emphasizes its continued and unwavering commitment to maintaining high standards of corporate governance and internal control, as well as transparent and timely disclosure in compliance with applicable rules and regulations.

About Full Truck Alliance Co. Ltd.

Full Truck Alliance Co. Ltd. (NYSE: YMM) is a leading digital freight platform connecting shippers with truckers to facilitate shipments across distance ranges, cargo weights and types. The Company provides a range of freight matching services, including freight listing, freight brokerage and online transaction services. The Company also provides a range of value-added services that cater to the various needs of shippers and truckers, such as financial institutions, highway authorities, and gas station operators. With a mission to make logistics smarter, the Company is shaping the future of logistics with technology and aspires to revolutionize logistics, improve efficiency across the value chain and reduce its carbon footprint for our planet. For more information, please visit ir.fulltruckalliance.com.

 

 

View original content:https://www.prnewswire.com/news-releases/full-truck-alliance-co-ltd-responds-to-short-seller-report-301730650.html

SOURCE Full Truck Alliance Co. Ltd.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What allegations did J Capital Research make against Full Truck Alliance (YMM)?

J Capital Research alleged that Full Truck Alliance has overstated or falsified its operating and financial data.

How did Full Truck Alliance respond to the allegations from J Capital Research?

Full Truck Alliance firmly denied the allegations, stating that the report contains factual inaccuracies and flawed conclusions.

What is the financial status of Full Truck Alliance after the allegations?

Full Truck Alliance reaffirms the accuracy of its financial data and commitment to transparency, although the allegations could create shareholder concerns.

When did Full Truck Alliance issue its response to the short seller report?

Full Truck Alliance issued its response on January 25, 2023, following the report published on January 24, 2023.