Full Truck Alliance Co. Ltd. (NYSE:YMM) Q2 2024 Earnings Conference Call August 21, 2024 8:00 AM ET
Company Participants
Mao Mao - Head of Investor Relations
Hui Zhang - Founder, Chairman and Chief Executive Officer
Simon Cai - Chief Financial Officer
Conference Call Participants
Ronald Keung - Goldman Sachs
Eddy Wang - Morgan Stanley
Jiulu Li - CICC
Brian Gong - Citigroup
Charlie Chen - China Renaissance
Thomas Chong - Jefferies
Operator
Ladies and gentlemen, good day, and welcome to Full Truck Alliance's Second Quarter 2024 Earnings Conference Call. Today's conference is being recorded.
At this time, I would like to turn the conference over to Mao Mao, Head of Investor Relations. Please go ahead.
Mao Mao
Thank you, operator. Please note that today's discussion will contain forward-looking statements relating to the company's future performance, which are intended to qualify for the Safe Harbor from liability, as established by the US Private Securities Litigation Reform Act. Such statements are not guarantees of future performance and are subject to certain risks and uncertainties, assumptions and other factors. Some of these risks are beyond the company's control and could cause actual results to differ materially from those mentioned in today's press release and discussion. A general discussion of the risk factors that could affect FTA's business and financial results is included in certain filings of the company with the SEC. The company does not undertake any obligation to update this forward-looking information, except as required by law.
During today's call, management will also discuss certain non-GAAP financial measures for comparison purpose only. For a definition of non-GAAP financial measures and a reconciliation of GAAP to non-GAAP financial results, please see the earnings release issued earlier today.
Joining us today on the call from FTA's senior management side are Mr. Hui Zhang, our Founder, Chairman and CEO; and Mr. Simon Cai, our CFO. Management will begin with prepared remarks and the call will conclude with a Q&A session. As a reminder, this conference is being recorded. In addition, a webcast replay of this call will be available on FTA's Investor Relations website at ir.fulltruckalliance.com.
I will now turn the call over to our Founder, Chairman and CEO, Mr. Zhang. Please go ahead.
Hui Zhang
[Foreign Language] [interpreted] Hello, everyone. Thank you for joining us today on our second quarter 2024 earnings conference call. Despite the complex and volatile macro environment, we continue to advance the digitalization of the logistics industry in the first half of 2024, empowering enterprises to enhance their logistics competitiveness. Amidst the broader industry trend of cost reduction and efficiency enhancements, we leveraged our [digital] (ph) platform skill effect to deliver exceptional cost effectiveness and transaction efficiency to our users, driving the company's growth flywheel. Our fulfilled orders in the first half of 2024 grew by 25% year-over-year, significantly outpacing the single-digit growth in the overall freight market. This exceptional performance demonstrated that our digital and intelligent logistics model is steadily replacing the traditional offline solutions, including acquaintance truckers and contracted shipments.