Hong Kong-based Bright Valley Capital acquired 2.57 million shares of Full Truck Alliance Co. Ltd. (YMM) in the third quarter, totaling $33.36 million. This new position constitutes 19.75% of the fund’s AUM. YMM stock price was $11.25 as of Friday, showing a 4% increase over the past year. The company operates a digital freight platform in China, offering various logistics services. Bright Valley’s significant investment in YMM reflects confidence in the company’s growth potential and market positioning. YMM’s revenue increased by 10.8% year over year in the third quarter, signaling continued growth and expansion.

Read more at Nasdaq: This China Tech Stock Just Became a Fund’s Top Holding With a $33 Million Buy