Quhuo Limited - $QH STOCK NEWS

Quhuo (NASDAQ: QH), a gig economy platform in China, has received notification letters from Nasdaq indicating non-compliance with two listing rules. As of May 10, 2024, Quhuo's ADSs have been below the $1.00 minimum bid price for 30 consecutive trading days and the company's market value of publicly held shares (MVPHS) has been under $15 million for the same period. Quhuo has 180 days, until November 6, 2024, to rectify these issues. Potential solutions include raising the ADS price or adjusting the ADS-to-Class A ratio. Failure to comply may result in delisting, although extensions and appeals are possible.

Quhuo (NASDAQ: QH) announced a strategic deployment to expand its SaaS+ services into medical care, long-term residential housing, and elderly care apartments using the gig economy model. This move aims to reduce costs and increase efficiency for local life service providers. Quhuo plans to collaborate with leading enterprises in the medical and real estate sectors to offer comprehensive solutions, broadening revenue sources and driving business growth.

Quhuo (QH) reports strong financial results for 2023, showcasing significant revenue growth, positive EBITDA, and successful ventures in vehicle export solutions and SaaS+ services. The company achieved a total revenue of RMB 3.7 billion, gross profit of RMB 1.7 million, and an adjusted net income increase of 64.7% year-over-year. Noteworthy cost-control efforts led to reduced costs across various segments. The vehicle export business generated RMB 154.5 million in revenue, driving rapid growth in mobility solutions. SaaS+ services empowered housekeeping and accommodation solutions, resulting in a 53% increase in GMV and significant profitability improvements. Quhuo's diversified business models aim to unlock higher growth opportunities and expand internationally.

Quhuo (QH) reports strong financial and operational results for the second half of 2023 and full year 2023. The company saw significant revenue growth driven by vehicle export solutions, with a 239.6% year-over-year increase in mobility solution services revenue. Net income also showed positive growth, with a 15.0% increase year-over-year. Quhuo International successfully shipped over 1,700 units of vehicles in the second half of 2023 and over 1,900 units in the full year 2023. The company's strategic expansion into new avenues like vehicle export solutions and SaaS+ services has contributed to its profitability. Quhuo aims to leverage its core strengths and industry clusters to tap into global markets for sustained success.

Quhuo (NASDAQ: QH) to report unaudited financial results for the second half and full year 2023 on April 3, 2024. Conference call scheduled to discuss the results.

Quhuo Limited (NASDAQ: QH) expands into the rural homestay industry with the launch of 'Chengtu Rural Residence' to revitalize rural communities in China. The initiative aims to renovate vacant rural homes for long-term and short-term rentals, promoting integrated urban-rural development. Chengtu's strategic partnerships and rigorous selection process ensure high-quality accommodations, aligning with national policies for rural revitalization.

Cheche Group Inc. appoints Ms. Wenting Ji as CFO and Ms. Yanjun Liu as COO. Ms. Ji brings extensive financial experience from various companies, while Ms. Liu has been with Cheche since 2018. The CEO expressed excitement about their roles in advancing the company's strategic roadmap.

Quhuo Limited (NASDAQ: QH) announced the successful approval of key proposals at its 2023 annual general meeting of shareholders. The resolutions include the ratification of the accounting firm appointment, an increase in authorized share capital, a significant boost in voting power for Class B Ordinary Shares, and the adoption of updated Memorandum and Articles of Association.

Quhuo Limited changes venue for upcoming annual general meeting of shareholders in Beijing, China.