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 (NASDAQ: QH) is a leading Chinese gig economy platform powering on-demand delivery, mobility services, and tech-driven solutions for urban life. This page provides investors with centralized access to Quhuo's official announcements, strategic developments, and market-moving updates.
Track critical updates including quarterly earnings reports, partnership announcements, and operational expansions across Quhuo's core segments: on-demand delivery networks, SaaS+ innovations, and emerging vehicle export initiatives. Discover how the company leverages its Quhuo+ platform to address China's evolving service economy.
All content is sourced from verified corporate communications, ensuring reliable tracking of Quhuo's growth in mobile-first markets. Bookmark this page for real-time updates on operational milestones, leadership changes, and technology deployments shaping one of China's most dynamic gig economy players.
Quhuo Limited (NASDAQ: QH) filed its annual report on Form 20-F for the fiscal year ending December 31, 2021, on September 9, 2022. The report shows total revenues of RMB4,025.3 million (US$631.7 million), marking a 56.0% increase year-over-year. Major revenue drivers included on-demand delivery solutions with RMB3,829.0 million (up 50.9%), mobility services at RMB110.2 million (up 248.7%), and housekeeping services at RMB79.7 million (up 542.8%). Shareholders can request a free hard copy of the report.
Quhuo Limited (NASDAQ: QH) announced the resignation of board member Fan Yang effective September 7, 2022. The company clarified that Mr. Yang's departure was not due to any disagreements regarding operations or financial controls. Leslie Yu, Chairman and CEO, expressed gratitude for Yang's contributions. Quhuo is recognized as a leading tech-enabled workforce operational solutions platform in China, providing services primarily to the on-demand consumer service industry.
Quhuo Limited (NASDAQ: QH) announced on August 31, 2022, that it has regained compliance with Nasdaq's Minimum Bid Price Requirement. This follows a previous notification on March 1, 2022, indicating that its American depositary shares had fallen below the required $1.00 bid price. The Compliance Notice confirmed that Quhuo's ADS prices met the requirement for ten consecutive days from August 12 to August 26, 2022. Quhuo continues to provide tech-enabled workforce solutions to a variety of industries in China, enhancing service delivery through skilled worker mobilization.
Quhuo Limited (NASDAQ: QH) announced a change in its American Depositary Shares (ADS) ratio, shifting from 1:1 to a 1:10 ratio, effective around August 12, 2022. This adjustment will perform as a one-for-ten reverse ADS split, meaning holders must exchange 10 current ADSs for 1 new ADS. No fractional new ADSs will be issued; instead, fractions will be sold, and proceeds distributed. While the company expects a proportional increase in ADS trading price, it cannot guarantee that the new price will equal or exceed ten times the previous price.
Quhuo Limited (NASDAQ: QH) announced the resignation of Wenting Ji as CFO and director, effective July 18, 2022, due to personal reasons. Her departure was not due to any disagreements with the company. Zhen Ba, co-founder and VP, has been appointed CFO also effective July 18, 2022. Ba brings significant experience, having served as CFO from 2012 to 2015 and VP since 2016, and will oversee corporate finance and business development. The board also appointed Gang Wang as a successor director on the same date. Quhuo continues to play a crucial role in China's on-demand service market.
Quhuo Limited (NASDAQ: QH) announced it received a notification letter from Nasdaq indicating non-compliance due to the late filing of its 2021 Form 20-F. The company has 60 days from May 18, 2022, to submit a Compliance Plan to regain compliance, which could extend the deadline until November 14, 2022. The delay in filing is attributed to third-party documents not being received on schedule. The company expects to file the necessary documentation by the end of June 2022.
Quhuo Limited (NASDAQ: QH) received a notification from Nasdaq stating it is not in compliance with the minimum bid price rule, as its American depositary share (ADS) has been below $1.00 for 30 consecutive trading days. The company has a 180-day compliance period until August 29, 2022, to regain compliance. If the price reaches $1.00 for 10 consecutive days, compliance will be confirmed. The notification does not impact Quhuo's business operations or its other listing standards.
Quhuo Limited (NASDAQ: QH) has announced its definitive agreement to acquire the remaining 45.78% equity interest in its subsidiary, Lailai Information Technology, for approximately RMB69.1 million. This acquisition, to be completed in Q1 2022, will give Quhuo full ownership of Lailai, a platform specializing in housekeeping for hotels and B&bs. The deal involves the issuance of 9 million Class A ordinary shares. Quhuo aims to enhance its service offerings and expand its market through this strategic acquisition, following significant revenue growth in its housekeeping solutions.
Quhuo Limited (NASDAQ: QH) reported a robust financial performance in Q3 2021, with total revenues reaching RMB1,105.5 million (US$171.6 million), up 43.7% year-over-year. The net income attributable to Quhuo was RMB24.9 million (US$3.9 million). The growth was driven by increased demand for on-demand delivery solutions, with orders rising to 53.1 million, a 59.1% year-over-year increase. Additionally, Quhuo expanded its services in housekeeping and accommodation, achieving a 538.0% revenue increase in this sector.
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