Researchers Patent brings innovative vehicle diagnostics to Deliver Complete Vehicle Servicing at Doorstep

CHANDIGARH, India, Aug. 19, 2026 /PRNewswire/ — A team of Chandigarh University researchers has developed a mobile ‘Vehicle Maintenance System’, designed to bring multiple vehicle maintenance services including vehicle diagnostics, engine and brake oil replacement, wheel alignment, hydraulic lifting and washing to the customer’s doorstep, thus reducing the inconvenience of queuing up at the service centres for long hours for service of the vehicle. 

Chandigarh University researchers including Prof (Dr) Payal Patial, Associate Professor in Electronics and Communication Engineering (currently deputed in CU’s University Centre for Research and Development) along with two students Suraj Rana and Supreet Bhatnagar have been granted a patent for this invention titled ‘Vehicle Maintenance System’ in May 2026 by the Office of the Controller General of Patents, Designs & Trade Marks (O/o CGPDTM) which is responsible for administering the Intellectual Property Laws in India.

Sharing details, Prof (Dr) Payal Patial said, “By carrying out a series of maintenance procedures at the user’s doorstep for servicing the vehicle of the user, ‘Vehicle Maintenance System’ addresses the growing demand for convenient, time-efficient, and accessible vehicle maintenance services.”

“Instead of requiring vehicle owners to visit conventional service centres and wait in long queues for hours, this system brings essential maintenance and diagnostic services directly to the user’s doorstep, thereby saving time and improving convenience. The ‘Vehicle Maintenance System’ has been designed to not only provide convenience to vehicle owners but also promote preventive maintenance and improving vehicle reliability.” 

“This concept also supports modern on-demand service models. Our ‘Vehicle Maintenance System’ has potential applications in smart mobility ecosystems as it integrates multiple automotive servicing operations into a single mobile platform that recreates the functionality of a conventional service station at the customer’s doorstep. Unlike existing mobile service units that offer only basic maintenance, this system provides comprehensive servicing, diagnostics, wheel alignment, hydraulic lifting, and rescue capabilities in one integrated vehicle.” 

“The ‘Vehicle Maintenance System’ will consist of a movable unit which will serve like an on-the-go vehicle service station which can be easily moved from one place to another for providing doorstep vehicle maintenance service to customer. This ‘Vehicle Maintenance System’ has been designed for servicing a wide range of passenger vehicles. Its integrated Hydraulic lifting mechanism will help in safe inspection and maintenance. Its Hydraulic locking system will ensure operational safety. Besides an onboard wheel alignment system, engine oil, brake oil, air filter, and oil filter replacement facilities, this mobile all-in-one ‘Vehicle Maintenance System’ will have computerized vehicle diagnostics for real-time fault detection and preventive maintenance. Its adjustable body-on-frame structure will accommodate different vehicle sizes. In addition, this system also includes dust-free washing facility and roadside rescue or towing functionality with heavy-duty towing equipment for stranded vehicles.”

“Besides doorstep vehicle servicing, this ‘Vehicle Maintenance System’ will also be useful for preventive maintenance of passenger vehicles, fleet maintenance services, emergency roadside assistance, rural and remote automotive service delivery as well as corporate and institutional vehicle maintenance,” she concluded.  

Congratulating Prof (Dr) Payal Patial, Suraj Rana and Supreet Bhatnagar for being granted the Patent for their innovative ‘Vehicle Maintenance System’, Deepinder Singh Sandhu, Senior Managing Director, Chandigarh University said, “It’s a matter of pride that Chandigarh University’s students and faculty members have filed more than 6,100 patents out of which 5800 patents have been published and 260 patents have been granted. Chandigarh University is ranked number one as a single institution in India for filing highest number of patents. CU’s 44 faculty members featured in Stanford University–Elsevier list of the world’s top 2% scientists. This achievement reflects the strong research and innovation ecosystem at Chandigarh University to support research excellence and intellectual property generation for advancement of technology,”.

 “Making research a core pillar of education, Chandigarh University nurtures next-generation leaders in emerging domains with its research-intensive, innovation-driven and unique experiential learning model. Chandigarh University has established a strong presence in global academic databases by producing over 25,000 scholarly documents in key areas including engineering, computer science, life sciences, physical sciences, social sciences and management. Over 1.53 lakh Scopus citations of CU’s diverse research output reflects a robust and growing research ecosystem. The range of research activities at Chandigarh University is wide-ranging and profound. University scholars conduct research in practically every domain, and pursue to develop human knowledge through investigation, invention, and understanding. Chandigarh University is recognized as Scientific and Industrial Research Organization (SIRO) by the Union Ministry of Science and Technology’s Department of Scientific and Industrial Research (DSIR) for promoting and advancing the research. To amplify research, Chandigarh University has dedicated an annual budget of Rs 15 Crore for research and has also 60 Research Centres and 15 Centres of Excellence. CU’s research initiatives are further strengthened by 67 projects funded by the corporate sector and government bodies with Rs 90 Crore,” he added.

About Chandigarh University

Chandigarh University is a NAAC A+ Grade University and QS World Ranked University. This autonomous educational institution is approved by UGC and is located near Chandigarh in the state of Punjab. It is the youngest university in India and the only private university in Punjab to be honoured with A+ Grade by NAAC (National Assessment and Accreditation Council). CU offers more than 109 UG and PG programs in the field of engineering, management, pharmacy, law, architecture, journalism, animation, hotel management, commerce, and others. It has been awarded as The University with Best Placements by WCRC.

Website address: https://www.cuchd.in/

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GUIYANG, China, Aug. 19, 2026 /PRNewswire/ — Full Truck Alliance Co. Ltd. (“FTA” or the “Company”) (NYSE: YMM), a leading digital freight platform, today announced its unaudited financial results for the second quarter ended June 30, 2026.

Second Quarter 2026 Financial and Operational Highlights

Total net revenues in the second quarter of 2026 were RMB3,381.6 million (US$498.4 million), an increase of 4.4% from RMB3,239.1 million in the same period of 2025.

Net income in the second quarter of 2026 was RMB1,345.1 million (US$198.2 million), an increase of 6.3% from RMB1,264.8 million in the same period of 2025.

Non-GAAP adjusted net income1 in the second quarter of 2026 was RMB1,433.8 million (US$211.3 million), an increase of 6.0% from RMB1,352.1 million in the same period of 2025.

Fulfilled orders2 in the second quarter of 2026 reached 68.5 million, an increase of 12.7% from 60.8 million in the same period of 2025.

Average shipper MAUs3 in the second quarter of 2026 reached 3.57 million, an increase of 12.8% from 3.16 million in the same period of 2025.

Mr. Peter Hui Zhang, Founder, Chairman, and Chief Executive Officer of FTA, commented, “During the second quarter, we remained focused on enhancing user experience and transaction efficiency. By expanding transaction protections for shippers and truckers, we significantly improved user satisfaction on both sides of the platform and further strengthened our nationwide network effects. Higher order density and growing trucker capacity drove the fulfillment rate to a record high while further shortening matching time. Our new initiatives also progressed: Qmove rapidly grew both order volume and fulfillment rates in overseas markets, our less-than-truckload offerings reached nationwide coverage through partnerships with dedicated-line carriers, and autonomous delivery vehicle pilots expanded to multiple cities. Going forward, our expanding network scale will continue to fuel AI innovation and application across the platform, creating long-term value for our users and shareholders.”

Mr. Langbo Guo, President of FTA, added, “Total net revenues reached RMB3.38 billion this quarter, up 4.4% year over year. Transaction service revenues grew 33.1% to RMB1.77 billion, accounting for 52.2% of total net revenues. Net income reached RMB1.35 billion, up 6.3% year over year, while non-GAAP adjusted net income increased 6.0% to RMB1.43 billion. Net cash provided by operating activities grew significantly year over year to RMB2.15 billion, and our cash position4 was RMB33.4 billion. Our liquidity position remains strong to support scaling new business initiatives and advancing our long-term strategy, while we continue to return value to shareholders through quarterly cash dividends.”

Second Quarter 2026 Financial Results

Net Revenues (including value added taxes, or “VAT” of RMB1,294.9 million and RMB1,109.2 million for the three months ended June 30, 2025 and 2026, respectively). Total net revenues in the second quarter of 2026 were RMB3,381.6 million (US$498.4 million), representing an increase of 4.4% from RMB3,239.1 million in the same period of 2025, primarily attributable to an increase in revenues from freight matching services.

Freight matching services. Revenues from freight matching services in the second quarter of 2026 were RMB3,012.6 million (US$444.0 million), representing an increase of 9.6% from RMB2,747.9 million in the same period of 2025. The increase was mainly due to the sustained increase in transaction service revenues, partially offset by a decrease in freight brokerage revenues.

Freight brokerage service. Revenues from freight brokerage service in the second quarter of 2026 were RMB995.4 million (US$146.7 million), compared with RMB1,177.9 million in the same period of 2025, primarily attributable to a decrease in transaction volume, partially offset by an increase in service fee rate.

Freight listing service. Revenues from freight listing service in the second quarter of 2026 were RMB250.8 million (US$37.0 million), an increase of 3.3% from RMB242.9 million in the same period of 2025, primarily due to the growing number of total paying members.

Transaction service. Revenues from transaction service amounted to RMB1,766.4 million (US$260.3 million) in the second quarter of 2026, an increase of 33.1% from RMB1,327.1 million in the same period of 2025, primarily driven by increases in order volume, penetration rate and per-order transaction service fee.

Value-added services.5 Revenues from value-added services in the second quarter of 2026 were RMB369.0 million (US$54.4 million), compared with RMB491.2 million in the same period of 2025. The decrease was primarily due to a decrease in credit solutions revenues.

Cost of Revenues (including VAT net of government grants of RMB918.7 million and RMB602.2 million for the three months ended June 30, 2025 and 2026, respectively). Cost of revenues in the second quarter of 2026 was RMB925.9 million (US$136.5 million), compared with RMB1,238.4 million in the same period of 2025, primarily due to decreases in VAT, related tax surcharges and other tax costs, net of grants from government authorities. These tax-related costs net of government grants totaled RMB743.4 million, compared with RMB1,087.1 million in the same period of 2025, primarily due to a decrease in tax costs net of government grants related to the Company’s freight brokerage service.

Sales and Marketing Expenses. Sales and marketing expenses in the second quarter of 2026 were RMB455.4 million (US$67.1 million), compared with RMB433.8 million in the same period of 2025. The increase was primarily due to additional investments in user ecosystem enhancement and user rights protection, partially offset by efficiency-focused spending on user acquisition.

General and Administrative Expenses. General and administrative expenses in the second quarter of 2026 were RMB183.8 million (US$27.1 million), compared with RMB170.3 million in the same period of 2025. The increase was primarily due to higher share-based compensation expenses and professional service fees.

Research and Development Expenses. Research and development expenses in the second quarter of 2026 were RMB260.9 million (US$38.5 million), compared with RMB189.6 million in the same period of 2025. The increase was mainly due to the inclusion of R&D costs of Giga.AI Technology Limited (“Giga.AI”), which was consolidated into the Company’s financial results since July 2025.

Income from Operations. Income from operations in the second quarter of 2026 was RMB1,486.1 million (US$219.0 million), an increase of 30.4% from RMB1,139.6 million in the same period of 2025.

Non-GAAP Adjusted Operating Income.6 Non-GAAP adjusted operating income in the second quarter of 2026 was RMB1,580.7 million (US$233.0 million), an increase of 28.5% from RMB1,230.1 million in the same period of 2025.

Net Income. Net income in the second quarter of 2026 was RMB1,345.1 million (US$198.2 million), an increase of 6.3% from RMB1,264.8 million in the same period of 2025.

Non-GAAP Adjusted Net Income. Non-GAAP adjusted net income in the second quarter of 2026 was RMB1,433.8 million (US$211.3 million), an increase of 6.0% from RMB1,352.1 million in the same period of 2025.

Basic and Diluted Net Income per ADS7 and Non-GAAP Adjusted Basic and Diluted Net Income per ADS.8 Basic net income per ADS was RMB1.28 (US$0.19) in the second quarter of 2026, compared with RMB1.20 in the same period of 2025. Diluted net income per ADS was RMB1.28 (US$0.19) in the second quarter of 2026, compared with RMB1.19 in the same period of 2025. Non-GAAP adjusted basic net income per ADS was RMB1.37 (US$0.20) in the second quarter of 2026, compared with RMB1.28 in the same period of 2025. Non-GAAP adjusted diluted net income per ADS was RMB1.36 (US$0.20) in the second quarter of 2026, compared with RMB1.27 in the same period of 2025.

Balance Sheet and Cash Flow

As of June 30, 2026, the Company had cash and cash equivalents, restricted cash, short-term investments, long-term time deposits and wealth management products with maturities over one year of RMB33.4 billion (US$4.9 billion) in total, compared with RMB31.5 billion as of December 31, 2025.

As of June 30, 2026, the total outstanding loan balance9 was RMB4.3 billion (US$0.6 billion), a decrease of 21.9% from RMB5.5 billion as of December 31, 2025. The total non-performing loan ratio9 was 3.8% as of June 30, 2026, compared with 2.9% as of December 31, 2025, primarily due to the migration of previously delinquent balances to outstanding loans that were over 90 calendar days past due, as well as a rapidly reduced total outstanding loan balance.

In the second quarter of 2026, net cash provided by operating activities was RMB2,150.2 million (US$316.9 million), compared with RMB1,313.3 million in the same period of 2025. Free cash flow10 was RMB2,040.0 million (US$300.7 million), compared with RMB1,299.2 million in the same period of 2025.

Business Outlook

The Company expects its total net revenues to be between RMB3.32 billion and RMB3.42 billion for the third quarter of 2026, compared with RMB3.36 billion in the same period of 2025. These forecasts are based on the Company’s current and preliminary view of the market and operational conditions, which are subject to change and cannot be predicted with reasonable accuracy as of the date hereof.

Declaration of Quarterly Cash Dividend

Pursuant to the Company’s shareholder return plan, the board approved a cash dividend for the third quarter of 2026 in the amount of US$0.0042 per ordinary share, or US$0.0840 per ADS, totaling approximately US$87.5 million. The dividend will be paid on or around October 28, 2026, to holders of record of the Company’s ordinary shares at the close of business on October 14, 2026. For holders of the Company’s ADSs, cash dividends are expected to be paid through the depositary, Deutsche Bank Trust Company Americas, on or around October 28, 2026, subject to the terms of the deposit agreement, including the fees and expenses payable thereunder.

The board will review the quarterly cash dividend policy periodically, and may authorize adjustments to the size and terms of the dividends to ensure that the total shareholder return value for fiscal year 2026 will be approximately US$400 million.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at a rate of RMB6.7851 to US$1.00, the exchange rate in effect as of June 30, 2026, as set forth in the H.10 statistical release of The Board of Governors of the Federal Reserve System. The Company makes no representation that any RMB or US$ amounts could have been, or could be, converted into US$ or RMB, as the case may be, at any particular rate, or at all.

Conference Call

The Company’s management will hold an earnings conference call at 7:00 A.M. U.S. Eastern Time on August 19, 2026, or 7:00 P.M. Beijing Time to discuss its financial results and operating performance for the second quarter 2026.

For participants who wish to join the conference using dial-in numbers, please complete online registration using the link provided below prior to the scheduled call start time.

Participant Online Registration:
https://s1.c-conf.com/diamondpass/10056053-ix3s6v.html

Upon registration, each participant will receive details for the conference call, including dial-in numbers and a unique access PIN. To join the conference, please dial the provided number, enter your PIN, and you will join the conference.

The replay will be accessible through August 26, 2026, by dialing the following numbers:

A live and archived webcast of the conference call will also be available on the Company’s investor relations website at ir.fulltruckalliance.com.

About Full Truck Alliance Co. Ltd.

Full Truck Alliance Co. Ltd. (NYSE: YMM) is a leading digital freight platform connecting shippers with truckers to facilitate shipments across distance ranges, cargo weights and types. The Company provides a range of freight matching services, including freight listing, freight brokerage and transaction services. The Company also provides a range of value-added services that cater to the various needs of shippers and truckers, while enabling other businesses, such as financial institutions, highway authorities and gas station operators, to participate in its ecosystem. With a mission to empower enterprises with greater logistics competitiveness, the Company is shaping the future of logistics with technology and aspires to revolutionize logistics, improve efficiency across the value chain and reduce its carbon footprint for our planet. For more information, please visit ir.fulltruckalliance.com.

Use of Non-GAAP Financial Measures

The Company uses non-GAAP adjusted operating income, non-GAAP adjusted net income, non-GAAP adjusted net income attributable to ordinary shareholders, non-GAAP adjusted basic and diluted net income per share and non-GAAP adjusted basic and diluted net income per ADS, each a non-GAAP financial measure, as supplemental measures to review and assess its operating performance.

The presentation of non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company defines non-GAAP adjusted operating income as income from operations excluding (i) share-based compensation expense; and (ii) amortization of intangible assets resulting from business acquisitions. The Company defines non-GAAP adjusted net income as net income excluding (i) share-based compensation expense; (ii) amortization of intangible assets resulting from business acquisitions; and (iii) tax effects of non-GAAP adjustments. The Company defines non-GAAP adjusted net income attributable to ordinary shareholders as net income attributable to ordinary shareholders excluding (i) share-based compensation expense; (ii) amortization of intangible assets resulting from business acquisitions; and (iii) tax effects of non-GAAP adjustments. The Company defines non-GAAP adjusted basic and diluted net income per share as non-GAAP adjusted net income attributable to ordinary shareholders divided by weighted average number of basic and diluted ordinary shares, respectively. The Company defines non-GAAP adjusted basic and diluted net income per ADS as non-GAAP adjusted net income attributable to ordinary shareholders divided by the weighted average number of basic and diluted ADSs, respectively. The Company defines free cash flow as operating cash flow adjusting for the impact from capital expenditures. Capital expenditures include purchase of property and equipment and intangible assets.

The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as an analytical tool. The non-GAAP financial measures do not reflect all items of expense that affect its operations.

The Company reconciles the non-GAAP financial measures to the nearest U.S. GAAP performance measures. Non-GAAP adjusted operating income, non-GAAP adjusted net income, non-GAAP adjusted net income attributable to ordinary shareholders and non-GAAP adjusted basic and diluted net income per share should not be considered in isolation or construed as an alternative to operating income, net income, net income attributable to ordinary shareholders and basic and diluted net income per share or any other measure of performance or as an indicator of its operating performance. Investors are encouraged to review FTA’s non-GAAP financial measures against the most directly comparable GAAP measures. FTA’s non-GAAP financial measure may not be comparable to similarly titled measures presented by other companies.

For more information on these non-GAAP financial measures, please see the table captioned “Reconciliations of GAAP and Non-GAAP Results” set forth at the end of this release.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements which are made pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to,” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: FTA’s goal and strategies; FTA’s expansion plans; FTA’s future business development, financial condition and results of operations; expected changes in FTA’s revenues, costs or expenses; industry landscape of, and trends in, China’s road transportation market; competition in FTA’s industry; FTA’s expectations regarding demand for, and market acceptance of, its services; FTA’s expectations regarding its relationships with shippers, truckers and other ecosystem participants; FTA’s ability to protect its systems and infrastructures from cyber-attacks; PRC laws, regulations, and policies relating to the road transportation market, as well as general regulatory environment in which FTA operates in China; the results of regulatory review and the duration and impact of any regulatory action taken against FTA; the impact of health epidemics, extreme weather conditions and production constraints brought by electricity rationing measures; general economic and business condition; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

In China:

Full Truck Alliance Co. Ltd.
Mao Mao
E-mail: IR@amh-group.com

Piacente Financial Communications
Jenny Cai
Tel: +86-10-6508-0677
E-mail: FTA@thepiacentegroup.com

In the United States:

Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: FTA@thepiacentegroup.com

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SOURCE Full Truck Alliance Co. Ltd.

JOHANNESBURG, Aug. 19, 2026 /PRNewswire/ — UnionPay International (UPI) and Standard Bank Group have expanded UnionPay e-commerce acceptance across nine African markets, enabling participating merchants to accept secure online payments from UnionPay cardholders and giving businesses broader access to cross-border consumer demand.

The expanded capability strengthens digital commerce across Africa by helping merchants offer more payment choice, reduce checkout friction and serve international travellers, cross-border shoppers and businesses transacting across multiple markets.

Through the partnership, online merchants in Botswana, Ghana, Kenya, Malawi, Namibia, Tanzania, Uganda, Zambia and Zimbabwe can now offer secure UnionPay e-commerce acceptance, with nearly 900 participating merchants across the continent.

Building on the collaboration announced by Standard Bank and UnionPay in 2024, this latest expansion comes as African businesses increasingly seek to serve customers beyond their domestic markets, supported by the continued growth of e-commerce, travel, tourism and regional trade. For merchants, the ability to accept internationally recognised payment methods online can help improve conversion, increase customer reach and support participation in cross-border digital commerce.

UnionPay cards are accepted in 183 countries and regions, including 51 countries in Africa, and are issued in 85 countries and regions globally. UnionPay’s African footprint includes approximately 7 million cards issued across the continent, creating additional opportunities for merchants to reach consumers travelling, trading and transacting across borders.

Supported by Standard Bank’s African presence, the expanded acceptance capability is locally relevant, regionally scalable and connected to international customer flows. Merchants can facilitate e-commerce transactions in local currency, US dollars or both, depending on market requirements.

Beyond expanding access to international payment networks, the partnership also supports the growing flow of trade and commerce across African markets. Leveraging Standard Bank’s African footprint, the solution helps connect merchants to both regional and global customer flows, supporting trade and commerce within Africa and beyond.

“African businesses are increasingly selling beyond their domestic markets and the ability to accept trusted international payment methods is becoming essential to that growth. By enabling UnionPay e-commerce acceptance across nine African markets, Standard Bank is helping merchants reduce payment friction, reach more customers and participate more effectively in cross-border digital commerce. This partnership reflects our commitment to using our African footprint and digital capabilities to unlock practical growth opportunities for businesses across the continent,” says Bill Blackie, Chief Executive for Business and Commercial Banking at Standard Bank Group.

“UnionPay International is committed to expanding the reach and usability of our payment network across Africa. Our collaboration with Standard Bank enables more merchants to accept UnionPay online and gives UnionPay cardholders greater choice and convenience when transacting with African businesses. Together, we are supporting safer, simpler and more connected digital commerce across the region,” says Mr Feng Chen, General Manager at UnionPay International Africa Branch.

The expanded acceptance capability is expected to benefit a broad range of businesses, including hospitality and tourism operators, retailers and e-commerce platforms. By giving customers more ways to pay online and supporting internationally recognised authentication standards, the solution helps merchants improve the checkout experience while strengthening confidence in digital transactions.

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