[SCHEDULE 13G] Full Truck Alliance Co. Ltd. American SEC Filing
First Beijing Investment Ltd. has filed a Schedule 13G disclosing a passive 5.07% stake in Full Truck Alliance Co. Ltd. (NYSE: YMM). The Hong-Kong鈥揵ased firm reports beneficial ownership of 951,652,520 Class A ordinary shares, equivalent to 47,582,626 American Depositary Shares (ADSs) at 20 ordinary shares per ADS (CUSIP 35969L108). The filing is based on the issuer鈥檚 18.79 billion Class A shares outstanding as of 31 Dec 2024.
Voting rights are split: sole voting power over 334,702,460 shares (16,735,123 ADSs) and sole dispositive power over the full 951,652,520 shares; no shared voting or dispositive authority is reported. The investor classifies itself as an 鈥淓xempt Reporting Adviser鈥� and certifies that the stake is not intended to change or influence control of the issuer, consistent with a passive investment under Rule 13d-1.
The disclosure is impactful mainly because it crosses the 5% threshold, signalling meaningful institutional interest, but no activist intentions or transactional terms are indicated.
First Beijing Investment Ltd. ha depositato un modulo Schedule 13G rivelando una partecipazione passiva del 5,07% in Full Truck Alliance Co. Ltd. (NYSE: YMM). La societ脿 con sede a Hong Kong dichiara la titolarit脿 effettiva di 951.652.520 azioni ordinarie di Classe A, equivalenti a 47.582.626 American Depositary Shares (ADS) con un rapporto di 20 azioni ordinarie per ADS (CUSIP 35969L108). La comunicazione si basa sulle 18,79 miliardi di azioni ordinarie di Classe A in circolazione al 31 dicembre 2024.
I diritti di voto sono cos矛 suddivisi: potere di voto esclusivo su 334.702.460 azioni (16.735.123 ADS) e potere esclusivo di disposizione su tutte le 951.652.520 azioni; non sono riportati diritti di voto o di disposizione condivisi. L'investitore si qualifica come 鈥淐onsulente di Segnalazione Esente鈥� e certifica che la partecipazione non 猫 destinata a modificare o influenzare il controllo dell'emittente, in linea con un investimento passivo ai sensi della Regola 13d-1.
La comunicazione 猫 significativa soprattutto perch茅 supera la soglia del 5%, indicando un interesse istituzionale rilevante, ma non sono state espresse intenzioni attiviste n茅 condizioni transazionali.
First Beijing Investment Ltd. ha presentado un Schedule 13G revelando una participaci贸n pasiva del 5,07% en Full Truck Alliance Co. Ltd. (NYSE: YMM). La firma con sede en Hong Kong reporta la propiedad beneficiaria de 951.652.520 acciones ordinarias Clase A, equivalentes a 47.582.626 American Depositary Shares (ADS) a raz贸n de 20 acciones ordinarias por ADS (CUSIP 35969L108). La presentaci贸n se basa en las 18,79 mil millones de acciones ordinarias Clase A en circulaci贸n al 31 de diciembre de 2024.
Los derechos de voto se dividen as铆: poder exclusivo de voto sobre 334.702.460 acciones (16.735.123 ADS) y poder exclusivo para disponer de las 951.652.520 acciones; no se reportan poderes compartidos de voto o disposici贸n. El inversor se clasifica como 鈥淎sesor de Reporte Exento鈥� y certifica que la participaci贸n no tiene la intenci贸n de cambiar o influir en el control del emisor, consistente con una inversi贸n pasiva bajo la Regla 13d-1.
La divulgaci贸n es significativa principalmente porque supera el umbral del 5%, se帽alando un inter茅s institucional relevante, pero no se indican intenciones activistas ni t茅rminos transaccionales.
First Beijing Investment Ltd.臧� Full Truck Alliance Co. Ltd. (NYSE: YMM)鞐� 雽�頃� 5.07%鞚� 靾橂彊鞝� 歆�攵勳潉 瓿店皽頃橂姅 Schedule 13G毳� 鞝滌稖頄堨姷雼堧嫟. 頇嶌僵鞐� 氤胳偓毳� 霊� 鞚� 須岇偓電� 951,652,520欤检潣 韥措灅鞀� A 氤错喌欤�毳� 鞁れ 靻岇湢頃橁碃 鞛堨溂氅�, 鞚措姅 20欤检潣 氤错喌欤茧嫻 1臧滌潣 ADS(氙戈淡鞓堩儊欤检嫕)搿� 頇橃偘 鞁� 47,582,626 ADS鞐� 頃措嫻頃╇媹雼�(CUSIP 35969L108). 鞚� 鞝滌稖 靹滊電� 2024雲� 12鞗� 31鞚� 旮办 187鞏� 9觳滊 欤检潣 韥措灅鞀� A 氤错喌欤� 氚滍枆 欤检嫕靾�毳� 旮办鞙茧 鞛戩劚霅橃棃鞀惦媹雼�.
鞚橁舶甓岇潃 雼れ潓瓿� 臧欖澊 攵勴暊霅╇媹雼�: 3鞏� 3,470毵� 2,460欤�(1,673毵� 5,123 ADS)鞐� 雽�頃� 雼弲 鞚橁舶甓�瓿� 鞝勳泊 951,652,520欤检棎 雽�頃� 雼弲 觳橂秳甓�; 瓿惦彊 鞚橁舶甓岇澊雮� 觳橂秳甓岇潃 氤搓碃霅橃 鞎婌晿鞀惦媹雼�. 韴瀽鞛愲姅 鞛愳嫚鞚� 鈥滊┐鞝� 氤搓碃 鞛愲靷��搿� 攵勲頃橂┌, 鞚� 歆�攵勳澊 氚滍枆鞚胳潣 歆�氚瓣秾 氤�瓴届澊雮� 鞓來枼霠レ潉 頄夓偓頃橂牑電� 鞚橂弰臧� 鞐嗢潓鞚�, 攴滌箼 13d-1鞐� 霐半ジ 靾橂彊鞝� 韴瀽鞛勳潉 鞚胳頃╇媹雼�.
鞚措矆 瓿奠嫓電� 5% 鞛勱硠臧掛潉 雱橁布旮� 霑岆鞐� 欤茧 鞚橂臧� 鞛堨溂氅�, 鞚措姅 欷戩殧頃� 旮瓣磤 韴瀽鞛愳潣 甏�鞁潉 雮橅儉雮挫毵�, 頄夒彊欤检潣 鞚橂弰雮� 瓯半灅 臁瓣贝鞚� 氇呾嫓霅橃 鞎婌晿鞀惦媹雼�.
First Beijing Investment Ltd. a d茅pos茅 un Schedule 13G r茅v茅lant une participation passive de 5,07 % dans Full Truck Alliance Co. Ltd. (NYSE : YMM). La soci茅t茅 bas茅e 脿 Hong Kong d茅clare d茅tenir 951 652 520 actions ordinaires de classe A, 茅quivalant 脿 47 582 626 American Depositary Shares (ADS) au ratio de 20 actions ordinaires par ADS (CUSIP 35969L108). Le d茅p么t est bas茅 sur les 18,79 milliards d鈥檃ctions ordinaires de classe A en circulation au 31 d茅cembre 2024.
Les droits de vote sont r茅partis ainsi : pouvoir de vote exclusif sur 334 702 460 actions (16 735 123 ADS) et pouvoir exclusif de disposition sur l鈥檌nt茅gralit茅 des 951 652 520 actions ; aucun droit de vote ou de disposition partag茅 n鈥檈st signal茅. L鈥檌nvestisseur se classe comme 芦 Conseiller en d茅claration exempt茅 禄 et certifie que la participation n鈥檃 pas pour but de modifier ou d鈥檌nfluencer le contr么le de l鈥櫭﹎etteur, conform茅ment 脿 un investissement passif selon la r猫gle 13d-1.
Cette divulgation est importante principalement car elle d茅passe le seuil de 5 %, signalant un int茅r锚t institutionnel significatif, mais aucune intention activiste ni condition transactionnelle n鈥檈st indiqu茅e.
First Beijing Investment Ltd. hat eine Schedule 13G eingereicht, in der ein passiver Anteil von 5,07 % an Full Truck Alliance Co. Ltd. (NYSE: YMM) offengelegt wird. Das in Hongkong ans盲ssige Unternehmen meldet den wirtschaftlichen Eigentum an 951.652.520 Class A-Stammaktien, was 47.582.626 American Depositary Shares (ADS) entspricht, basierend auf 20 Stammaktien pro ADS (CUSIP 35969L108). Die Meldung basiert auf den 18,79 Milliarden ausstehenden Class A-Aktien zum 31. Dezember 2024.
Die Stimmrechte sind aufgeteilt: alleinige Stimmrechte 眉ber 334.702.460 Aktien (16.735.123 ADS) und alleinige Verf眉gungsgewalt 眉ber alle 951.652.520 Aktien; keine gemeinsamen Stimm- oder Verf眉gungsrechte wurden gemeldet. Der Investor klassifiziert sich als 鈥濫xempt Reporting Adviser鈥� und best盲tigt, dass die Beteiligung nicht dazu bestimmt ist, die Kontrolle 眉ber den Emittenten zu 盲ndern oder zu beeinflussen, was einer passiven Investition gem盲脽 Regel 13d-1 entspricht.
Die Offenlegung ist bedeutend, haupts盲chlich weil sie die 5%-Schwelle 眉berschreitet und damit ein bedeutendes institutionelles Interesse signalisiert, jedoch keine aktivistischen Absichten oder Transaktionsbedingungen angibt.
- Institutional stake of 5.07% reveals meaningful third-party confidence in YMM.
- Disclosure increases transparency for shareholders regarding significant ownership blocks.
- None.
Insights
TL;DR: Passive 5.07% stake signals institutional confidence but no control ambitions; limited near-term price impact.
Crossing the 5% line compels public disclosure, so the market now knows First Beijing Investment Ltd. holds 47.6 million ADS-equivalents. Because voting power (1.8% of class) is well below economic ownership, the firm likely holds the shares through structures that limit voting, underscoring a financial鈥攏ot strategic鈥攑osition. The filing contains no purchase prices or timing, so we cannot gauge cost basis or momentum. Historically, passive 13G filings of this size add modest support to liquidity and may improve sentiment, but absent activist language or board intentions, the risk/reward profile for YMM remains driven by fundamentals and macro China freight demand.
TL;DR: Ownership disclosure is governance-neutral; no control, no group formation.
First Beijing certifies it is neither forming a group nor seeking influence, so board composition and governance remain unchanged. The issuer鈥檚 multi-class share structure already concentrates control with founders; this 5% Class A stake does not erode that. From a governance standpoint, the key takeaway is transparency: investors gain visibility into another sizeable but passive holder. No additional risk factors鈥攕uch as related-party transactions or change-of-control clauses鈥攁re introduced.
First Beijing Investment Ltd. ha depositato un modulo Schedule 13G rivelando una partecipazione passiva del 5,07% in Full Truck Alliance Co. Ltd. (NYSE: YMM). La societ脿 con sede a Hong Kong dichiara la titolarit脿 effettiva di 951.652.520 azioni ordinarie di Classe A, equivalenti a 47.582.626 American Depositary Shares (ADS) con un rapporto di 20 azioni ordinarie per ADS (CUSIP 35969L108). La comunicazione si basa sulle 18,79 miliardi di azioni ordinarie di Classe A in circolazione al 31 dicembre 2024.
I diritti di voto sono cos矛 suddivisi: potere di voto esclusivo su 334.702.460 azioni (16.735.123 ADS) e potere esclusivo di disposizione su tutte le 951.652.520 azioni; non sono riportati diritti di voto o di disposizione condivisi. L'investitore si qualifica come 鈥淐onsulente di Segnalazione Esente鈥� e certifica che la partecipazione non 猫 destinata a modificare o influenzare il controllo dell'emittente, in linea con un investimento passivo ai sensi della Regola 13d-1.
La comunicazione 猫 significativa soprattutto perch茅 supera la soglia del 5%, indicando un interesse istituzionale rilevante, ma non sono state espresse intenzioni attiviste n茅 condizioni transazionali.
First Beijing Investment Ltd. ha presentado un Schedule 13G revelando una participaci贸n pasiva del 5,07% en Full Truck Alliance Co. Ltd. (NYSE: YMM). La firma con sede en Hong Kong reporta la propiedad beneficiaria de 951.652.520 acciones ordinarias Clase A, equivalentes a 47.582.626 American Depositary Shares (ADS) a raz贸n de 20 acciones ordinarias por ADS (CUSIP 35969L108). La presentaci贸n se basa en las 18,79 mil millones de acciones ordinarias Clase A en circulaci贸n al 31 de diciembre de 2024.
Los derechos de voto se dividen as铆: poder exclusivo de voto sobre 334.702.460 acciones (16.735.123 ADS) y poder exclusivo para disponer de las 951.652.520 acciones; no se reportan poderes compartidos de voto o disposici贸n. El inversor se clasifica como 鈥淎sesor de Reporte Exento鈥� y certifica que la participaci贸n no tiene la intenci贸n de cambiar o influir en el control del emisor, consistente con una inversi贸n pasiva bajo la Regla 13d-1.
La divulgaci贸n es significativa principalmente porque supera el umbral del 5%, se帽alando un inter茅s institucional relevante, pero no se indican intenciones activistas ni t茅rminos transaccionales.
First Beijing Investment Ltd.臧� Full Truck Alliance Co. Ltd. (NYSE: YMM)鞐� 雽�頃� 5.07%鞚� 靾橂彊鞝� 歆�攵勳潉 瓿店皽頃橂姅 Schedule 13G毳� 鞝滌稖頄堨姷雼堧嫟. 頇嶌僵鞐� 氤胳偓毳� 霊� 鞚� 須岇偓電� 951,652,520欤检潣 韥措灅鞀� A 氤错喌欤�毳� 鞁れ 靻岇湢頃橁碃 鞛堨溂氅�, 鞚措姅 20欤检潣 氤错喌欤茧嫻 1臧滌潣 ADS(氙戈淡鞓堩儊欤检嫕)搿� 頇橃偘 鞁� 47,582,626 ADS鞐� 頃措嫻頃╇媹雼�(CUSIP 35969L108). 鞚� 鞝滌稖 靹滊電� 2024雲� 12鞗� 31鞚� 旮办 187鞏� 9觳滊 欤检潣 韥措灅鞀� A 氤错喌欤� 氚滍枆 欤检嫕靾�毳� 旮办鞙茧 鞛戩劚霅橃棃鞀惦媹雼�.
鞚橁舶甓岇潃 雼れ潓瓿� 臧欖澊 攵勴暊霅╇媹雼�: 3鞏� 3,470毵� 2,460欤�(1,673毵� 5,123 ADS)鞐� 雽�頃� 雼弲 鞚橁舶甓�瓿� 鞝勳泊 951,652,520欤检棎 雽�頃� 雼弲 觳橂秳甓�; 瓿惦彊 鞚橁舶甓岇澊雮� 觳橂秳甓岇潃 氤搓碃霅橃 鞎婌晿鞀惦媹雼�. 韴瀽鞛愲姅 鞛愳嫚鞚� 鈥滊┐鞝� 氤搓碃 鞛愲靷��搿� 攵勲頃橂┌, 鞚� 歆�攵勳澊 氚滍枆鞚胳潣 歆�氚瓣秾 氤�瓴届澊雮� 鞓來枼霠レ潉 頄夓偓頃橂牑電� 鞚橂弰臧� 鞐嗢潓鞚�, 攴滌箼 13d-1鞐� 霐半ジ 靾橂彊鞝� 韴瀽鞛勳潉 鞚胳頃╇媹雼�.
鞚措矆 瓿奠嫓電� 5% 鞛勱硠臧掛潉 雱橁布旮� 霑岆鞐� 欤茧 鞚橂臧� 鞛堨溂氅�, 鞚措姅 欷戩殧頃� 旮瓣磤 韴瀽鞛愳潣 甏�鞁潉 雮橅儉雮挫毵�, 頄夒彊欤检潣 鞚橂弰雮� 瓯半灅 臁瓣贝鞚� 氇呾嫓霅橃 鞎婌晿鞀惦媹雼�.
First Beijing Investment Ltd. a d茅pos茅 un Schedule 13G r茅v茅lant une participation passive de 5,07 % dans Full Truck Alliance Co. Ltd. (NYSE : YMM). La soci茅t茅 bas茅e 脿 Hong Kong d茅clare d茅tenir 951 652 520 actions ordinaires de classe A, 茅quivalant 脿 47 582 626 American Depositary Shares (ADS) au ratio de 20 actions ordinaires par ADS (CUSIP 35969L108). Le d茅p么t est bas茅 sur les 18,79 milliards d鈥檃ctions ordinaires de classe A en circulation au 31 d茅cembre 2024.
Les droits de vote sont r茅partis ainsi : pouvoir de vote exclusif sur 334 702 460 actions (16 735 123 ADS) et pouvoir exclusif de disposition sur l鈥檌nt茅gralit茅 des 951 652 520 actions ; aucun droit de vote ou de disposition partag茅 n鈥檈st signal茅. L鈥檌nvestisseur se classe comme 芦 Conseiller en d茅claration exempt茅 禄 et certifie que la participation n鈥檃 pas pour but de modifier ou d鈥檌nfluencer le contr么le de l鈥櫭﹎etteur, conform茅ment 脿 un investissement passif selon la r猫gle 13d-1.
Cette divulgation est importante principalement car elle d茅passe le seuil de 5 %, signalant un int茅r锚t institutionnel significatif, mais aucune intention activiste ni condition transactionnelle n鈥檈st indiqu茅e.
First Beijing Investment Ltd. hat eine Schedule 13G eingereicht, in der ein passiver Anteil von 5,07 % an Full Truck Alliance Co. Ltd. (NYSE: YMM) offengelegt wird. Das in Hongkong ans盲ssige Unternehmen meldet den wirtschaftlichen Eigentum an 951.652.520 Class A-Stammaktien, was 47.582.626 American Depositary Shares (ADS) entspricht, basierend auf 20 Stammaktien pro ADS (CUSIP 35969L108). Die Meldung basiert auf den 18,79 Milliarden ausstehenden Class A-Aktien zum 31. Dezember 2024.
Die Stimmrechte sind aufgeteilt: alleinige Stimmrechte 眉ber 334.702.460 Aktien (16.735.123 ADS) und alleinige Verf眉gungsgewalt 眉ber alle 951.652.520 Aktien; keine gemeinsamen Stimm- oder Verf眉gungsrechte wurden gemeldet. Der Investor klassifiziert sich als 鈥濫xempt Reporting Adviser鈥� und best盲tigt, dass die Beteiligung nicht dazu bestimmt ist, die Kontrolle 眉ber den Emittenten zu 盲ndern oder zu beeinflussen, was einer passiven Investition gem盲脽 Regel 13d-1 entspricht.
Die Offenlegung ist bedeutend, haupts盲chlich weil sie die 5%-Schwelle 眉berschreitet und damit ein bedeutendes institutionelles Interesse signalisiert, jedoch keine aktivistischen Absichten oder Transaktionsbedingungen angibt.
FAQ
How many YMM ADSs does First Beijing Investment Ltd. own?
What percentage of Full Truck Alliance鈥檚 Class A shares is held?
Does the investor have activist intentions toward YMM?
What are the voting rights associated with the stake?
Why was a Schedule 13G filed?
