SCHEDULE: First Beijing Investment Discloses 8.16% Stake in Full Truck Alliance

First Beijing Investment Ltd. has disclosed a beneficial ownership of 8.16% in Full Truck Alliance Co. Ltd.'s Class A ordinary shares as of December 31, 2025.

Summary

• First Beijing Investment Ltd. reported beneficial ownership of 1,532,331,360 Class A ordinary shares of Full Truck Alliance Co. Ltd.
• This ownership represents 8.16% of the Class A ordinary shares outstanding, calculated based on 18,786,018,412 shares as of December 31, 2024.
• The reporting person, First Beijing Investment Ltd., is a Hong Kong-based entity classified as an Exempt Reporting Advisor.
• First Beijing Investment Ltd. holds sole voting power over 710,304,800 Class A ordinary shares and sole dispositive power over 1,532,331,360 Class A ordinary shares.
• The shares are not held for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive disclosure, as it confirms a substantial institutional holding without indicating any activist intent, which can provide a degree of stability to the shareholder base.

Positives

• The disclosure of a significant institutional holding by First Beijing Investment Ltd. (8.16%) indicates continued institutional interest in Full Truck Alliance Co. Ltd.

Risks

• The filing explicitly states that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer, mitigating risks associated with activist investors.

Future Outlook

This filing does not contain forward-looking statements or guidance from Full Truck Alliance Co. Ltd. regarding its operations or financial performance.

Management Comments

• LI JINGWEI, Director of First Beijing Investment Ltd., certified that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer.

Industry Context

StockSavvy.ai notes that the disclosure of a significant passive institutional stake in a logistics technology company like Full Truck Alliance (often referred to as 'Manbang' in China) is a common occurrence for publicly traded entities. Such filings provide transparency on major shareholders but do not inherently reflect broader industry trends or competitive positioning.

Stakeholder Impact

• Shareholders: The disclosure provides transparency regarding a significant institutional holder, potentially influencing investor confidence and perception of the company's ownership structure.

Key Dates

Keywords

Full Truck Alliance, First Beijing Investment, Beneficial Ownership, Schedule 13G, Class A ordinary shares, YMM, SEC filing, Institutional Investor, Exempt Reporting Advisor