Welcome to our dedicated page for Quhuo news (Ticker: QH), a resource for investors and traders seeking the latest updates and insights on Quhuo stock.
Quhuo Limited reports developments for a China-based gig economy platform that provides local life service operating solutions through Quhuo+ and related service subsidiaries. Its recurring updates cover on-demand delivery, mobility services, housekeeping and accommodation, hotel and home services, and cross-border used-vehicle export operations.
Company developments also include financial results, operating reorganizations, partnerships involving Lailai, Chengtu Homestay and housing-service projects, digital settlement and blockchain initiatives for international operations, and corporate actions affecting its American depositary shares. Governance and capital-market items include extraordinary general meetings, ADS ratio changes, ADR program matters and listing-status disclosures.
Quhuo Limited (NASDAQ: QH) reported strong financial growth for Q2 2020, with revenues of RMB547.6 million (US$77.5 million), marking a 33.5% year-over-year increase and a 39.5% QoQ increase. Gross profit was RMB60.4 million (US$8.5 million), up 24.8% YoY, maintaining a gross margin of 11.0%. Adjusted net income was RMB21.0 million (US$3.0 million), rebounding from a loss in Q1 2020. The number of delivery orders surged 46.1% YoY, driven by heightened demand for on-demand food delivery during the COVID-19 pandemic. The company is expanding services and geographic reach to capitalize on market opportunities.
Quhuo Limited (NASDAQ: QH) will release its unaudited financial results for Q2 2020 on August 27, 2020, before U.S. market opening. A conference call is scheduled for the same day at 8:00 a.m. Eastern Time to discuss these results. Participants must preregister online due to COVID-19 precautions. Quhuo is recognized as the largest workforce operational solution platform in China, working with e-commerce focused industries such as food delivery and ride-hailing, aiming to transform workers into skilled personnel for efficient service delivery.
Quhuo Limited (NASDAQ: QH) announced the pricing of its upsized initial public offering (IPO) of 3,300,000 American depositary shares (ADSs) at US$10.00 each, totaling approximately US$33.0 million. The ADSs are expected to begin trading on the Nasdaq on July 10, 2020, with the offering closing on July 14, 2020, pending customary conditions. Underwriters have the option to purchase an additional 488,100 ADSs within 30 days. Quhuo is recognized as the largest workforce operational solution platform in China, providing tech-enabled solutions across various industries.