Full Truck Alliance Group Makes Inroads into the Intra-city Freight Market with Acquisition of SS Return Truck

SHANGHAI, Dec. 4, 2020 /PRNewswire/ --A On November 24, Full Truck Alliance, an intelligent transportation platform in China, announced it secured $US1.7 billion in the latest round of funding to expand its freight business from inter-city to intra-city and branded the service as Yunmanman.In June 2019, Tianjin Manyun Software Technology Co., Ltd., a subsidiary of the Full Truck Alliance Group, increased its investment in Guangzhou SS Return Truck Infotech Co., Ltd., brand owner of SS Return Truck (also known as "ShengSheng Huitouche"). In August 2020, 100 percent of SS Return Truck's shares were transferred to Tianjin Manyun Software Technology Co., Ltd. SS Return Truck mainly provides customers with intra and inter-city pickup, delivery, housing relocation and other short-to-medium-haul freight hauling services. With the acquisition of this brand, its founding operation team, network resources, and intra-city business will be integrated into the Yunmanman brand, enabling Full Truck Alliance to expand into the intra-city freight business.At present, Full Truck Alliance has piloted its intra-city freight service in two cities. Its daily orders have exploded since its launch two months ago, which exceeds four digits on a daily basis; and average order feedback time is as short as only nine seconds while the average time from posting to trucker arrival is inside only five minutes. All these operating metrics are considered in the top percentile in the industry. In addition, the one-stop logistics service for both intra-city and intercity provided by Full Truck Alliance is well recognized by customers and the frequency of shipment postings has been growing rapidly."The long-haul business mainly focuses on short-term planning demand of vehicles which are more price sensitive", says the BU leader of the intra-city freight business. "The intra-city business is mainly about on-demand vehicles, and key indicators for customer satisfaction are the order feedback time as well as the time needed for the trucker to arrive on site. Full Truck Alliance has a huge number of logistics users to facilitate the national logistics flow of freight sources which need vehicles for intra-city pick-up and delivery. The loading of a 17.5-meter truck with full truck load at a dedicated line company may otherwise require at least ten 4.2-meter trucks to pick up the goods and another ten 4.2-meter trucks to deliver them to the consignees when reaching their destinations. Our company, however, has the unique advantage of accumulated rich operating experience of freight matching on long-haul freight lines that could rapidly be applied into the intra-city business."
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