Full Truck Alliance Co., Ltd.


YMM operates a major Chinese-based digital freight platform known as Full Truck Alliance or FTA. On July 5, 2021, FTA issued a press release titled “Full Truck Alliance Announces Cybersecurity Review in China” in which the Company disclosed “that pursuant to an announcement issued by the Cybersecurity Review Office (“CRO”) of the Cyberspace Administration of China on July 5, 2021, CRO has initiated a cybersecurity review of FTA’s Yunmanman apps and Huochebang apps. In order to facilitate the review and prevent the expansion of potential risks, these mobile apps are required to suspend new user registration in China during the review period.”  On this news, FTA shares declined approximately 20% in pre-market trading on July 6, 2021.

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