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    Quhuo Reports Financial Results for the Second Half and Full Year 2024

    4/29/25 6:00:00 AM ET
    $QH
    Business Services
    Consumer Discretionary
    Get the next $QH alert in real time by email

    BEIJING, April 29, 2025 /PRNewswire/ -- Quhuo Limited (NASDAQ:QH) ("Quhuo," the "Company," "we" or "our"), a leading gig economy platform focusing on local life services in China, today reported its unaudited financial results for the six months and full year ended December 31, 2024.

    Financial and Operational Highlights for the Second Half of 2024

    • Net income was RMB48.1 million (US$6.6 million), representing a year-over-year increase of 311.1% from RMB11.7 million.
    • Adjusted EBITDA was RMB43.8 million (US$6.0 million), representing a year-over-year increase of 81.7% from RMB24.1 million.
    • General and administrative expenses were RMB77.8 million (US$10.7 million), representing a decrease of 24.2% from RMB102.7 million in the second half of 2023.
    • Gross profit of vehicle export solutions was RMB2.9 million (US$0.4 million), representing a year-over-year increase of 11.5% from RMB2.6 million.
    • Gross profit margin of mobility solution services was 4.6%, compared with 2.1% in the second half of 2023.
    • Gross profit margin of housekeeping services and others was 46.9%, compared with 39.2% in the second half of 2023.

    Financial and Operational Highlights for Full Year 2024

    • General and administrative expenses were RMB148.6 million (US$20.4 million), representing a decrease of 19.4% from RMB184.3 million in 2023.
    • Gross profit margin of vehicle export solutions was 5.1%, compared with 1.7% in 2023.
    • Gross profit margin of housekeeping services and others was 36.4%, compared with 26.4% in 2023.

    Mr. Leslie Yu, Quhuo's Chairman and Chief Executive Officer, said, "2024 is a pivotal year for Quhuo, marking a key turning point in the progress of our strategic elevation. We are pleased to conclude that, thanks to our focus on deepening high-quality business development and driving a structural improvement in profitability, we have successfully enhanced gross profit margin across multiple business sectors. We have continuously worked on improving operational efficiency, leading to a reduction in various expenses.

    Our cross-border vehicle export business became a key growth engine in 2024. Our "technology + resources" model has proven effective in regions such as the Middle East, Eastern Europe and Western Asia, where we've empowered local dealers and built a "vehicle procurement - local operations" ecosystem, as demonstrated in Azerbaijan. We believe this global collaboration will reduce supply chain friction and position us for international expansion, with plans underway to replicate the model in additional markets.

    In our on-demand food delivery business, we entered into a strategic cooperation agreement with NIU World, a large-scale food group in China, leveraging our nationwide delivery network built over more than a decade. This partnership enables us to provide beef product distribution services- an important milestone in our continued transformation from a fulfillment service provider to a supply chain enabler. Looking ahead, we see strong potential to expand this model into other food sectors requiring high standards for ingredient preservation, offering flexible, efficient and scalable supply chain services to more businesses in the future.

    In the future, we will continue optimizing operations, empowering our partners, and seizing market opportunities to deliver sustainable returns for shareholders while creating lasting value for society."

    Unaudited Financial Results of the Second Half of 2024

    Total revenues were RMB1,426.9 million (US$195.5 million), compared with total revenues of RMB1,966.1 million in the second half of 2023, representing a decrease of 27.4%.

    • Revenues from on-demand food delivery solutions were RMB1,329.4 million (US$182.1 million), compared with RMB1,763.2 million in the second half of 2023, representing a decrease of 24.6%. The decrease was primarily because we optimized our business by disposing of several underperforming service stations, which led to a decrease in revenue scale.
    • Revenues from mobility service solutions, consisting of shared-bike maintenance, ride-hailing, vehicle export solutions and freight service solutions, were RMB74.7 million (US$10.2 million), compared with RMB175.3 million in the second half of 2023, representing a decrease of 57.4%. The decrease was primarily due to a decrease in units of vehicles sold in our vehicle export solution business.
    • Revenues from housekeeping and accommodation solutions and other services were RMB22.9 million (US$3.1 million), compared with RMB27.5 million in the second half of 2023, primarily due to the decrease in housekeeping services for hotels as a result of our shift of focus to other businesses.

    Cost of revenues was RMB1,378.0 million (US$188.8 million), representing a year-over-year decrease of 26.2%, primarily in line with the decrease in our total revenues.

    General and administrative expenses were RMB77.8 million (US$10.7 million), representing a significant decrease of 24.2% from RMB102.7 million in the second half of 2023. The decrease was primarily driven by (1) a decline in professional service fees from RMB44.5 million in the second half of 2023 to RMB22.6 million (US$3.1 million) in the second half of 2024, and (2) a reduction in welfare and business development expenses and office expenses from RMB21.4 million in the second half of 2023 to RMB16.1 million (US$2.2 million) in the second half of 2024. These savings were largely the result of our effective expense control through engagement of more cost-effective service providers, elimination of unnecessary costs and optimization of employee roles and responsibilities.

    Research and development expenses remained relatively stable at RMB5.8 million (US$0.8 million) in the second half of 2024 and RMB5.7 million in the second half of 2023.

    We recorded gain on disposal of assets, net, of RMB13.4 million and RMB68.2 million (US$9.3 million) in the second half of 2023 and 2024, respectively, primarily due to the transfer of certain long-term assets to third parties.

    Our interest expenses were RMB1.8 million (US$0.2 million), representing a significant decrease of 30.8% from RMB2.6 million in the second half of 2023, primarily due to the decrease in in average interest rates relating to our short-term bank borrowings.

    Our other income, net, was RMB0.4 million (US$0.1 million) in the second half of 2024 and RMB10.7 million in the second half of 2023 primarily due to the disposal of investment in a mutual fund.

    Income tax benefit was RMB15.7 million (US$2.2 million), as compared to income tax expense of RMB1.5 million in the second half of 2023, primarily due to the reversal of unrecognized tax benefit recognized previous years that have passed the retroactive period.

    Net income attributable to Quhuo Limited was RMB48.1 million (US$6.6 million), compared with net income attributable to Quhuo Limited of RMB11.7 million in the second half of 2023.

    Adjusted EBITDA was RMB43.8 million (US$6.0 million), compared with adjusted EBITDA of RMB24.1 million in the second half of 2023.(1)

    Adjusted net income was RMB48.1 million (US$6.6 million), compared to the adjusted net income of RMB7.4 million in the second half of 2023.(1)

    Unaudited Financial Results of Full Year 2024

    Total revenues were RMB3,046.9 million (US$417.4 million), a decrease of 17.7%, compared with total revenues of RMB3,702.4 million in 2023.

    • Revenues from on-demand food delivery solutions were RMB2,828.5 million (US$387.5 million), compared with RMB3,412.8 million in 2023, representing a decrease of 17.1%. The decrease was primarily due to optimization of our business by disposing of several underperforming service stations, which led to a decrease in revenue scale.
    • Revenues from mobility service solutions were RMB175.1 million (US$24.0 million), compared with RMB233.8 million in 2023, representing a decrease of 25.1%. The decrease was primarily due to the reduction in vehicles sold in our vehicle export solution business.
    • Revenues from housekeeping and accommodation solutions and other services were RMB43.2 million (US$5.9 million), compared with RMB55.7 million in 2023, primarily due to the decrease of housekeeping services for hotels as a result of our shift of focus to other businesses.

    Cost of revenues was RMB2,973.2 million (US$407.3 million), representing a year-over-year decrease of 15.9%, generally in line with the decrease in our total revenues.

    General and administrative expenses were RMB148.6 million (US$20.4 million) in 2024, representing a decrease of 19.4% from RMB184.3 million in 2023. This reduction was due to (1) a decrease in professional service fees from RMB66.7 million in 2023 to RMB37.2 million (US$5.1 million) in 2024, and (2) a decrease in welfare and business development expenses and office expenses from RMB38.6 million in 2023 to RMB28.4 million (US$3.9 million) in 2024. These savings reflect our expense control measures, including more cost-effective service providers, eliminating unnecessary costs, and optimizing employee roles and responsibilities.

    Research and development expenses were RMB10.7 million (US$1.5 million) in 2024, representing a decrease of 13.7% from RMB12.4 million in 2023, primarily due to a lower average compensation level for our research and development personnel resulting from the restructuring of our R&D team.

    We recorded gain on disposal of assets, net, of RMB22.3 million and RMB75.2 million (US$10.3 million) in 2023 and 2024, respectively, primarily due to the transfer of certain long-term assets to third parties.

    Our interest expenses were RMB4.1 million (US$0.6 million), representing a decrease of 16.3% from RMB4.9 million in 2023, primarily due to the reduction in average interest rates relating to our short-term bank borrowings.

    Other expense, net, was RMB2.6 million (US$0.4 million) in 2024, as compared to other income, net, of RMB16.7 million in 2023, primarily due to the fluctuation in the fair value of our investment in a mutual fund.

    Income tax benefit was RMB18.3 million (US$2.5 million) in 2024, as compared to RMB0.9 million in 2023, primarily due to the reversal of unrecognized tax benefit recognized in previous years that have passed the retroactive period.

    Net income attributable to Quhuo Limited was RMB1.6 million (US$0.2 million) in 2024, as compared to RMB6.0 million in 2023.

    Adjusted EBITDA was RMB9.1 million (US$1.2 million) in 2024, as compared to adjusted EBITDA of RMB35.2 million in 2023.(1)

    Adjusted net income was RMB1.6 million (US$0.2 million) in 2024, as compared to RMB5.5 million in 2023.(1)

    (1) See "Use of Non-GAAP Financial Measures."

    Balance Sheet

    As of December 31, 2024, the Company had cash, cash equivalents and restricted cash of RMB65.1 million (US$8.9 million) and short-term debt of RMB112.8 million (US$15.5 million).

    CONFERENCE CALL

    Quhuo will hold a conference call on Tuesday, April 29, 2025 at 8:00 a.m. U.S. Eastern Time (8:00 p.m. Beijing/Hong Kong time on the same day) to discuss the financial results.

    Dial-in details for the earnings conference call are as follows:

    PARTICIPANT DIAL IN (TOLL FREE):

    1-888-346-8982

    PARTICIPANT INTERNATIONAL DIAL IN:

    1-412-902-4272

    Hong Kong Toll Free:

    800-905945

    Hong Kong-Local Toll:

    852-301-84992

    Mainland China Toll Free:

    4001-201203

    Conference ID:

    QUHUO

    Please dial in ten minutes before the call is scheduled to begin and provide the conference ID to join the call.

    A replay of the conference call may be accessed by phone at the following numbers until May 6, 2025:

    US Toll Free:

    1-877-344-7529

    International Toll:

    1-412-317-0088

    Canada Toll Free:

    855-669-9658

    Replay Access Code:

    8059541

    Additionally, a live and archived webcast of the conference call will also be available at the Company's investor relations website at https://ir.quhuo.cn/.

    USE OF NON-GAAP FINANCIAL MEASURES

    Quhuo has provided in this press release financial information that has not been prepared in accordance with generally accepted accounting principles in the United States (GAAP).

    Quhuo uses adjusted net income/loss and adjusted EBITDA, which are non-GAAP financial measures, in evaluating its operating results and for financial and operational decision-making purposes. Adjusted net income/loss represents net income/loss before share-based compensation expenses. Adjusted EBITDA represents adjusted net income/loss before income tax benefit/expense, amortization, depreciation and interest. Quhuo believes that these non-GAAP financial measures help identify underlying trends in its business that could otherwise be distorted by the effect of share-based compensation expenses, income tax benefits or expenses, amortization, depreciation and interest. Quhuo believes that such non-GAAP financial measures also provide useful information about its operating results, enhance the overall understanding of its past performance and prospects and allow for greater visibility with respect to key metrics used by its management in its financial and operational decision-making.

    The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. They should not be considered in isolation or construed as alternatives to net income/loss or any other performance measures or as an indicator of Quhuo's operating performance. Further, these non-GAAP financial measures may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to the Company's data. Quhuo encourages investors and others to review the Company's financial information in its entirety and not rely on a single financial measure. Investors are encouraged to compare the historical non-GAAP financial measures with the most directly comparable GAAP measures. Quhuo mitigates these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP performance measures, all of which should be considered when evaluating its performance. For more information on this Non-GAAP financial measure, please see the table captioned "Unaudited Reconciliations of GAAP and Non-GAAP results" set forth below.

    Unaudited Reconciliations of GAAP and Non-GAAP Results





    For the Six Months Ended



    For the Year Ended





    December

    31, 2023



    December

    31, 2024



    December

    31, 2024



    December

    31, 2023



    December

    31, 2024



    December

    31, 2024





    (RMB'000)



    (RMB'000)



    (US$'000)



    (RMB'000)



    (RMB'000)



    (US$'000)



























    Net income



    11,698



    48,127



    6,593



    6,008



    1,612



    221

    Add: Share-based Compensation

    (4,348)



    -



    -



    (495)



    -



    -



























    Adjusted net income



    7,350



    48,127



    6,593



    5,513



    1,612



    221



























    Add: Income tax expense/(benefit)

    1,468



    (15,721)



    (2,154)



    (927)



    (18,343)



    (2,513)

    Depreciation



    2,389



    1,832



    251



    5,316



    4,508



    618

    Amortization



    10,302



    7,807



    1,070



    20,430



    17,192



    2,355

    Interest



    2,559



    1,804



    247



    4,882



    4,105



    562



























    Adjusted EBITDA



    24,068



    43,849



    6,007



    35,214



    9,074



    1,243

    EXCHANGE RATE INFORMATION

    This press release contains translations of certain Renminbi amounts into U.S. dollars at a specified rate solely for readers' convenience. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.2993 to US$1.00, the rate in effect as of December 31, 2024 as set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the Renminbi or U.S. dollar amounts referred could be converted into U.S. dollars or Renminbi, as the case may be, at any particular rate or at all.

    ABOUT QUHUO LIMITED

    Quhuo Limited is a leading gig economy platform focusing on local life services in China. Leveraging Quhuo+, its proprietary technology infrastructure, Quhuo is dedicated to empowering and linking workers and local life service providers and providing end-to-end operation solutions for the life service market. The Company currently provides multiple industry-tailored operational solutions, primarily including on-demand delivery solutions, mobility service solutions, housekeeping and accommodation solutions, and other services, meeting the living needs of hundreds of millions of families in the communities.

    With the vision of promoting employment, stabilizing income and empowering entrepreneurship, Quhuo explores multiple scenarios to promote employment of workers, provides, among others, safety and security and vocational training to protect workers, and helps workers plan their career development paths to realize their self-worth.

    SAFE HARBOR STATEMENT

    This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical or current fact included in this press release are forward-looking statements, including but not limited to statements regarding Quhuo's business development, financial outlook, beliefs and expectations. Forward-looking statements include statements containing words such as "expect," "anticipate," "believe," "project," "will" and similar expressions intended to identify forward-looking statements. These forward-looking statements are based on Quhuo's current expectations and involve risks and uncertainties. Quhuo's actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks and uncertainties related to Quhuo's abilities to (1) manage its growth and expand its operations, (2) address any or all of the risks and challenges in the future in light of its limited operating history and evolving business portfolios, (3) remain its competitive position in the on-demand food delivery market or further diversify its solution offerings and customer portfolio, (4) maintain relationships with major customers and to find replacement customers on commercially desirable terms or in a timely manner or at all, (5) maintain relationship with existing industry customers or attract new customers, (6) attract, retain and manage workers on its platform, and (7) maintain its market shares to competitors in existing markets and its success in expansion into new markets. Other risks and uncertainties are included under the caption "Risk Factors" and elsewhere in the Company's filings with the Securities and Exchange Commission, including, without limitation, the Company's latest annual report on Form 20-F. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and Quhuo undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.

    For more information about Quhuo, please visit https://ir.quhuo.cn/.

    QUHUO LIMITED















    UNAUDITED CONSOLIDATED BALANCE SHEETS















     (Amounts in thousands of Renminbi ("RMB") and U.S. dollars ("US$"), except for number of shares and per share data)



















     As of December

    31, 2023



     As of December

    31, 2024



     As of December

    31, 2024





    (RMB)



    (RMB)



    (US$)

    Assets













    Current assets













    Cash and cash equivalents



    45,185



    63,202



    8,659

    Restricted cash



    1,271



    1,916



    262

    Short-term investments



    68,378



    -



    -

    Accounts receivable, net



    475,992



    295,713



    40,513

    Prepayments and other current assets



    108,354



    112,044



    15,348

    Amounts due from a related party



    253



    -



    -

    Total current assets



    699,433



    472,875



    64,782















    Property and equipment, net



    14,635



    8,847



    1,212

    Right-of-use assets, net



    6,217



    4,647



    637

    Intangible assets, net



    82,818



    57,985



    7,944

    Goodwill



    65,481



    65,481



    8,971

    Deferred tax assets



    21,968



    31,548



    4,322

    Other non-current assets



    141,384



    225,643



    30,913

    Total non-current assets



    332,503



    394,151



    53,999















    Total assets



    1,031,936



    867,026



    118,781















    liabilities, non-controlling interests and

    shareholders' equity













    Current liabilities













    Accounts payable



    254,099



    145,777



    19,971

    Accrued expenses and other current

    liabilities



    108,132



    74,269



    10,175

    Short-term debt



    92,653



    112,848



    15,460

    Short-term lease liabilities



    3,906



    2,818



    386

    Amounts due to a related party



    -



    1,350



    185

    Total current liabilities



    458,790



    337,062



    46,177















    Long-term debt



    7,533



    4,706



    645

    Long-term lease liabilities



    1,434



    1,635



    224

    Deferred tax liabilities



    4,689



    599



    82

    Other non-current liabilities



    54,212



    62,408



    8,550

    Total non-current liabilities



    67,868



    69,348



    9,501















    Total liabilities



    526,658



    406,410



    55,678

     

     

    QUHUO LIMITED















     UNAUDITED CONSOLIDATED BALANCE SHEETS



















     As of December

    31, 2023



     As of December

    31, 2024



     As of December

    31, 2024





     (RMB)



     (RMB)



     (US$)















    Shareholders' equity













    Ordinary shares



    43



    615



    84

    Additional paid-in capital



    1,885,142



    1,839,482



    252,008

    Accumulated deficit



    (1,376,530)



    (1,373,825)



    (188,214)

    Accumulated other comprehensive loss



    (2,466)



    (1,550)



    (212)

    Total Quhuo Limited shareholders'

    equity



    506,189



    464,722



    63,666

    Non-controlling interests



    (911)



    (4,106)



    (563)

    Total shareholders' equity



    505,278



    460,616



    63,103















    Total liabilities and shareholders' equity



    1,031,936



    867,026



    118,781

     

     

    QUHUO LIMITED



























    UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME



























    (Amounts in thousands of Renminbi ("RMB") and U.S. dollars ("US$"), except for number of shares and per share data)































    For the Six Months Ended



    For the Year Ended





    December

    31, 2023



    December

    31, 2024



    December

    31, 2024



    December

    31, 2023



    December

    31, 2024



    December

    31, 2024



     (RMB)



     (RMB)



     (US$)



     (RMB)



     (RMB)



     (US$)

    Revenues



    1,966,070



    1,426,933



    195,489



    3,702,387



    3,046,871



    417,420

    Cost of revenues



    (1,866,263)



    (1,377,966)



    (188,781)



    (3,535,778)



    (2,973,158)



    (407,321)

    General and administrative



    (102,725)



    (77,759)



    (10,653)



    (184,336)



    (148,627)



    (20,362)

    Research and development



    (5,733)



    (5,751)



    (788)



    (12,378)



    (10,690)



    (1,465)

    Gain on disposal of intangible

    assets



    13,401



    68,198



    9,343



    22,317



    75,220



    10,305



























    Operating income/(loss)



    4,750



    33,655



    4,610



    (7,788)



    (10,384)



    (1,423)



























    Interest income



    305



    127



    17



    1,047



    385



    53

    Interest expense



    (2,559)



    (1,804)



    (247)



    (4,882)



    (4,105)



    (562)

    Other income/(expense), net



    10,670



    428



    59



    16,704



    (2,627)



    (360)

    Income/(loss) before income tax



    13,166



    32,406



    4,439



    5,081



    (16,731)



    (2,292)

    Income tax (expense)/benefit



    (1,468)



    15,721



    2,154



    927



    18,343



    2,513

    Net income



    11,698



    48,127



    6,593



    6,008



    1,612



    221



























    Net loss/(income) attributable to

    non-controlling interests



    1,284



    7,113



    974



    (2,674)



    1,093



    150

    Net income attributable to

    ordinary shareholders of the

    Quhuo limited



    12,982



    55,240



    7,567



    3,334



    2,705



    371



























    Non-GAAP Financial Data

























    Adjusted net income



    7,350



    48,127



    6,593



    5,513



    1,612



    221

    Adjusted EBITDA



    24,068



    43,849



    6,007



    35,214



    9,074



    1,243



























    Earnings per share for class A and class B ordinary shares













    Basic



    0.23



    0.07



    0.01



    0.06



    0.01



    0.00

    Diluted



    0.23



    0.07



    0.01



    0.06



    0.01



    0.00

    Shares used in earnings per share computation:

















    Basic



    55,855,737



    737,267,651



    737,267,651



    55,534,919



    416,025,918



    416,025,918

    Diluted



    55,855,737



    737,267,651



    737,267,651



    55,534,919



    416,025,918



    416,025,918

     

     

    Cision View original content:https://www.prnewswire.com/news-releases/quhuo-reports-financial-results-for-the-second-half-and-full-year-2024-302440921.html

    SOURCE Quhuo Limited

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    • Quhuo's Homestay Sector Reports YoY Growth in Occupancy Rate During Labor Day Holiday, Continuing to Enhance the Accommodation Experience

      BEIJING, May 30, 2025 /PRNewswire/ --Quhuo Limited (NASDAQ:QH) ("Quhuo" or the "Company"), a leading gig economy platform focusing on local life services in China, announced the performance of its homestay sector, Chengtu Home ("Chengtu"), during the 2025 Labor Day holiday. The overall occupancy rate reached 82%, an approximately 4% increase compared to the same period last year. The single-day occupancy peak surpassed 90%, showing approximately 3% year-over-year growth. According to China's Ministry of Culture and Tourism, domestic travel reached 314 million trips during the 2025 Labor Day holiday, up 6.4% from last year. As travel preferences become more diverse, many travelers are now se

      5/30/25 6:00:00 AM ET
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    • Quhuo Reports Financial Results for the Second Half and Full Year 2024: Solidifying Core Business, Driving Diversified Growth Through Innovation

      BEIJING, April 29, 2025 /PRNewswire/ -- Quhuo Limited (NASDAQ:QH) ("Quhuo," the "Company," "we" or "our"), a leading gig economy platform focusing on local life services in China, today reported its unaudited financial results for the six months and audited financial results for full year ended December 31, 2024. 2024 marked a year of strategic transformation for Quhuo. Despite market challenges, the Company strengthened its core businesses and achieved steady gross profit margin growth in certain business lines through enhanced cost efficiencies. Quhuo also pursued innovation by forming strategic partnerships domestically and internationally, expanding its business reach. The Company furth

      4/29/25 6:10:00 AM ET
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    • Quhuo Reports Financial Results for the Second Half and Full Year 2024

      BEIJING, April 29, 2025 /PRNewswire/ -- Quhuo Limited (NASDAQ:QH) ("Quhuo," the "Company," "we" or "our"), a leading gig economy platform focusing on local life services in China, today reported its unaudited financial results for the six months and full year ended December 31, 2024. Financial and Operational Highlights for the Second Half of 2024 Net income was RMB48.1 million (US$6.6 million), representing a year-over-year increase of 311.1% from RMB11.7 million.Adjusted EBITDA was RMB43.8 million (US$6.0 million), representing a year-over-year increase of 81.7% from RMB24.1 million.General and administrative expenses were RMB77.8 million (US$10.7 million), representing a decrease of 24.2

      4/29/25 6:00:00 AM ET
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    • SEC Form 6-K filed by Quhuo Limited

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    • Amendment: SEC Form 20-F/A filed by Quhuo Limited

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    • SEC Form 20-F filed by Quhuo Limited

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    • SEC Form SC 13D filed by Quhuo Limited

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    • SEC Form SC 13D filed by Quhuo Limited

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      10/15/24 7:17:52 PM ET
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    • SEC Form SC 13D filed by Quhuo Limited

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    • Cheche Announces Appointment of Executive Officers

      BEIJING, Feb. 28, 2024 /PRNewswire/ -- Cheche Group Inc. (NASDAQ:CCG) ("Cheche", "the Company" or "we"), China's leading auto insurance technology platform, today announced the appointment of two executive officers. The board of directors of the Company has appointed Ms. Wenting Ji as the chief financial officer of the Company and Ms. Yanjun Liu as the chief operating officer of the Company, both effective from February 28, 2024. Prior to joining the Company, Ms. Wenting Ji served as the chief financial officer of Xiaoyezi Music Technology Group from July 2022 to August 2023. Prior to that, Ms. Ji served as the chief financial officer of Quhuo Limited (NASDAQ:QH) from January 2019 to July 2

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    • Quhuo Limited Announces Results of 2023 Annual General Meeting

      BEIJING, Feb. 20, 2024 /PRNewswire/ -- Quhuo Limited ("Quhuo" or the "Company") (NASDAQ:QH), a leading gig economy platform focusing on local life services in China, today announced the results of the Company's 2023 annual general meeting of shareholders ("2023 AGM") held on February 19, 2024 at 10:00 a.m. (local time) in Beijing, China. The proposals submitted for shareholder approval at the 2023 AGM have been approved. Specifically, the shareholders have passed the resolutions approving (1) the ratification of the appointment of Marcum Asia CPAs LLP as the independent registered public accounting firm for the fiscal year ended December 31, 2023; (2) the increase of the Company's authorized

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    • Quhuo to Hold 2023 Annual General Meeting on February 19, 2024

      BEIJING, Jan. 17, 2024 /PRNewswire/ -- Quhuo Limited ("Quhuo" or the "Company") (NASDAQ:QH), a leading gig economy platform focusing on local life services in China, today announced that it will hold its 2023 annual general meeting of shareholders at 3rd Floor, Block A, Tonghui Building, No. 1132 Huihe South Street, Chaoyang District, Beijing 100020, The People's Republic of China on February 19, 2024, at 10:00 a.m. (local time). The proposals to be submitted for shareholders' approval at the annual general meeting include (1) by way of an ordinary resolution, the ratification of the appointment of Marcum Asia CPAs LLP as the independent registered public accounting firm for the fiscal year

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    • Quhuo Reports Financial Results for the Second Half and Full Year 2024: Solidifying Core Business, Driving Diversified Growth Through Innovation

      BEIJING, April 29, 2025 /PRNewswire/ -- Quhuo Limited (NASDAQ:QH) ("Quhuo," the "Company," "we" or "our"), a leading gig economy platform focusing on local life services in China, today reported its unaudited financial results for the six months and audited financial results for full year ended December 31, 2024. 2024 marked a year of strategic transformation for Quhuo. Despite market challenges, the Company strengthened its core businesses and achieved steady gross profit margin growth in certain business lines through enhanced cost efficiencies. Quhuo also pursued innovation by forming strategic partnerships domestically and internationally, expanding its business reach. The Company furth

      4/29/25 6:10:00 AM ET
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    • Quhuo Reports Financial Results for the Second Half and Full Year 2024

      BEIJING, April 29, 2025 /PRNewswire/ -- Quhuo Limited (NASDAQ:QH) ("Quhuo," the "Company," "we" or "our"), a leading gig economy platform focusing on local life services in China, today reported its unaudited financial results for the six months and full year ended December 31, 2024. Financial and Operational Highlights for the Second Half of 2024 Net income was RMB48.1 million (US$6.6 million), representing a year-over-year increase of 311.1% from RMB11.7 million.Adjusted EBITDA was RMB43.8 million (US$6.0 million), representing a year-over-year increase of 81.7% from RMB24.1 million.General and administrative expenses were RMB77.8 million (US$10.7 million), representing a decrease of 24.2

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    • Quhuo Reports Unaudited Financial Results for the First Half of 2024

      BEIJING, Aug. 28, 2024 /PRNewswire/ -- Quhuo Limited (NASDAQ:QH) ("Quhuo," the "Company," "we" or "our"), a leading gig economy platform focusing on local life services in China, today reported its unaudited financial results for the six months ended June 30, 2024. Financial and Operational Highlights for the First Half of 2024  Revenues from mobility service solutions were RMB 100.5 million (US$13.8 million), representing an increase of 71.7% year-over-year.General and administrative expenses were RMB70.9 million (US$9.8 million), representing a decrease of 13.2% year-over-year.Quhuo International has signed service contracts for over 3,000 units of vehicles under its vehicle export soluti

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