BEIJING (dpa-AFX) - Chinese digital freight platform Full Truck Alliance Co. Ltd. (YMM), while reporting weak profit for the fourth quarter, issued first-quarter outlook, expecting revenue growth. The Board of directors further approved dividend, and extended share buyback program.
In pre-market activity on the NYSE, Full Truck Alliance shares were gaining around 2 percent to trade at $11.90.
For the first quarter, the company expects its total net revenues to be between RMB2.63 billion and RMB2.68 billion, representing a year-over-year growth rate of around 15.9% to 18.1%.
Further, the company's board of directors has approved a semi-annual cash dividend policy, pursuant to which the Board intends to declare and distribute a cash dividend semi-annually starting from 2025. The total cash dividend for 2025 is expected to be approximately $200 million.
The Board has also approved a semi-annual cash dividend of $0.0048 per ordinary share, or $0.0960 per American depositary share, payable on or around April 18, to holders of record of the Company's ordinary shares at the close of business on April 7. The aggregate amount of the dividend is expected to be approximately $100 million.
The Board resolved to extend the original share repurchase program in March 2024, and may repurchase up to around $300 million of its ADSs and/or ordinary shares through March 12, 2025.
In March 2025, the Board approved a further extension of the term of the share repurchase program such that the Company may repurchase up to $200 million of its ADSs and/or ordinary shares through March 12.
The company expects to fund the repurchases with its existing cash balance.
In its fourth quarter, the company's bottom line totaled RMB558.46 million, or RMB0.53 per share, compared with RMB584.09 million, or RMB0.56 per share, last year.
Adjusted earnings were RMB1.035 billion or RMB0.99 per share for the period.
The company's revenue for the period rose 31.9% to RMB3.174 billion from RMB2.407 billion last year.
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