Third Quarter 2025

Full Truck Alliance Co. Ltd. (FTA) announced its Q3 2025 financial results. Total net revenues reached RMB3,358.2 million (US$471.7 million), a 10.8% increase YoY. Net income was RMB921.0 million (US$129.4 million). Fulfilled orders grew by 22.3% to 63.4 million, and average shipper MAUs increased by 17.6% to 3.35 million. FTA’s Founder highlighted commitment to cost reduction and efficiency. The acquisition of Giga.AI aims to strengthen AI capabilities. Transaction service revenue increased 39.0% YoY.

NewLake Capital Partners (NLCP) reported its Q3 2025 financial results with revenue of $12.6 million, a slight YoY increase. Net income attributable to common stockholders was $6.7 million, FFO totaled $10.7 million, and AFFO reached $11.0 million. NLCP declared a dividend of $0.43 per share. The company focused on tenant management amidst industry headwinds. A conference call is scheduled for November 6, 2025, to discuss the results. NLCP is a REIT specializing in the cannabis industry.

American Riviera Bancorp (OTCQX: ARBV) reported a net income of $2.9 million ($0.51/share) for Q3 2025 and $7.9 million ($1.38/share) for the nine months ended September 30, 2025. Total deposits rose 11.3% to $1.26 billion, and total loans increased 6.7% to $1.04 billion. The net interest margin was 3.66%. While on-balance sheet liquidity remained strong and tangible book value increased, non-accrual loans notably rose to $9.8 million. The company repurchased 100,000 shares and plans expansion into Ventura County.