[SCHEDULE 13G/A] Full Truck Alliance Co. Ltd. SEC Filing

Rhea-AI Filing Summary

First Beijing Investment Limited filed Amendment No. 1 to Schedule 13G reporting beneficial ownership of 1,372,911,600 Class A ordinary shares of Full Truck Alliance (YMM), equal to 68,645,580 ADSs (each ADS represents 20 Class A ordinary shares). The filing lists a 7.31% stake.

The percentage is based on 18,786,018,412 Class A ordinary shares outstanding as of December 31, 2024. First Beijing reports sole voting power over 585,584,840 shares and sole dispositive power over 1,372,911,600 shares. The Date of Event is September 30, 2025, and the filer certifies the securities were not acquired to change or influence control.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Full Truck Alliance Co. Ltd.

(Name of Issuer)

Class A ordinary shares, par value $0.0001 per share

(Title of Class of Securities)

35969L108

(CUSIP Number)

09/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 35969L108

1

Names of Reporting Persons

First Beijing Investment Ltd

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

HONG KONG

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 585,584,840.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,372,911,600.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,372,911,600.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.3 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: Exempt Reporting Advisor

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Full Truck Alliance Co. Ltd.
(b)	Address of issuer's principal executive offices: BUILDING 3, WANBO R&D PARK, 20 FENGXIN ROAD, YUHUATAI DISTRICT, NANJING, CHINA, 210012
Item 2.
(a)	Name of person filing: First Beijing Investment Limited
(b)	Address or principal business office or, if none, residence: 16th Floor, On Building, 162 Queens Road, Central, Hong Kong
(c)	Citizenship: Hong Kong
(d)	Title of class of securities: Class A ordinary shares, par value $0.0001 per share
(e)	CUSIP No.: 35969L108
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: These 1,372,911,600 Class A ordinary Shares represent 68,645,580 ADSs (each representing 20 Class A ordinary shares) of the Issuer. There is no CUSIP number assigned to the ordinary shares, CUSIP number 35969L108 has been assigned to the American Depositary Shares ("ADS") of the Issuer. Each ADS represents 20 Class A ordinary shares, which are quoted on the New York Stock Exchange under the symbol "YMM".
(b)	Percent of class: 7.31%. The ownership is calculated based on 18,786,018,412 Class A ordinary Shares of the Issuer outstanding as of December 31, 2024, according to the Form 20-F filed by the Issuer with Securities and Exchange Commission (the "SEC") on April 14, 2025.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: These 585,584,840 Class A ordinary shares represent 29,279,242 ADSs (each representing 20 Class A ordinary shares) of the Issuer.
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 1,372,911,600. Same as item 4.(a)
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

First Beijing Investment Ltd

Signature:	LI JINGWEI
Name/Title:	DIRECTOR
Date:	11/14/2025

FAQ

What stake in YMM did First Beijing Investment report?

The filing reports 7.31% of the Class A ordinary shares of Full Truck Alliance.

How many YMM shares/ADSs does this represent?

It represents 1,372,911,600 Class A ordinary shares, equal to 68,645,580 ADSs (20 shares per ADS).

What is the share count used to calculate the percentage?

The percentage is based on 18,786,018,412 Class A ordinary shares outstanding as of December 31, 2024.

What voting and dispositive powers were disclosed?

First Beijing reports sole voting power over 585,584,840 shares and sole dispositive power over 1,372,911,600 shares.

When did the ownership event occur for this Schedule 13G/A?

The Date of Event is September 30, 2025.

Did the filer state any intent to influence control of YMM?

The certification states the securities were not acquired for the purpose of changing or influencing control.