Quhuo Ltd Stock Price, News & Analysis

Quhuo Limited (NASDAQ: QH) announced the resignation of Mr. Shuyi Yang from his role as vice president and board member, effective March 15 and June 1, 2021, respectively. His departure was not due to any disagreement regarding the company's operations or financial aspects. Ms. Wenting Ji, the current CFO, has been appointed to the board, effective June 1. Chairman Leslie Yu thanked Mr. Yang for his contributions and wished him success in future endeavors.

Quhuo Limited (NASDAQ: QH) announced the filing of its annual report on Form 20-F for the fiscal year ended December 31, 2020. The report is available on its investor relations website and the SEC's site. The company offers tech-enabled workforce operational solutions, primarily in food delivery, ride-hailing, and other e-commerce sectors. Quhuo plays a crucial role in linking service businesses with consumers, enhancing operational efficiency through skilled workforce mobilization. Shareholders can request a hard copy of the report containing audited financial statements at no charge.

Quhuo Limited (NASDAQ: QH) reported substantial growth in its 2020 financial results, with revenues of RMB2,580.8 million (US$395.5 million), up 25.5% year-over-year. The fourth quarter alone saw revenues reach RMB871.1 million (US$133.5 million), a 32.0% increase. Adjusted EBITDA for the year grew by 40.2% to RMB130.6 million (US$20.0 million). Notably, the company expanded its on-demand food delivery service, fulfilling 8.0 million grocery and fresh food orders. Despite challenges from COVID-19, Quhuo made strategic investments aimed at long-term growth.

Quhuo Limited (NASDAQ: QH) will release its unaudited financial results for the fourth quarter and fiscal year ending December 31, 2020, on April 30, 2021, before U.S. markets open. A conference call is scheduled for the same day at 8:00 a.m. ET to discuss these results. Due to COVID-19 restrictions, pre-registration for the call is required. Quhuo is recognized as China's largest workforce operational solution platform, providing tech-enabled services to businesses in sectors such as food delivery and ride-hailing.

Quhuo Limited (NASDAQ: QH) announced the resignation of Mr. Yung-Hung Chang from its board of directors, effective March 22, 2021. The resignation was for personal reasons and not due to disagreement over the company’s operations or financial practices. Leslie Yu, Chairman and CEO, thanked Mr. Chang for his contributions. Quhuo, recognized as the largest workforce operational solution platform in China, provides tech-enabled operational solutions in sectors like food delivery and ride-hailing, connecting businesses with skilled service workers.

Quhuo Limited (NASDAQ: QH) reported strong financial results for Q3 2020, with revenues of RMB769.5 million (US$113.3 million), a 20.8% increase year-over-year, and a 40.5% rise from Q2 2020. Gross profit surged 70.4% to RMB80.9 million (US$11.9 million), leading to a gross profit margin of 10.5%. Notably, adjusted net income rose 447.5% to RMB61.3 million (US$9.0 million) as operating leverage took effect. The company also expanded food delivery services significantly, achieving 33.6 million monthly orders, a 17.4% year-over-year increase.

Quhuo Limited (NASDAQ: QH) will release its unaudited financial results for Q3 2020 on December 3, 2020, before U.S. market opening. A conference call is scheduled for the same day at 7:00 a.m. Eastern Time to discuss these results. Due to COVID-19, participants must preregister online for the call. The company, recognized as the largest workforce solution platform in China as of 2019, provides tech-enabled services for various industries including food delivery and ride-hailing.

Quhuo Limited (NASDAQ: QH) announced a definitive agreement to acquire a 54.22% stake in Lailai Information Technology for approximately RMB133.0 million. The acquisition involves issuing 1,357,759 Class A ordinary shares to Lailai's shareholders. This strategic move aims to enhance Quhuo's housekeeping solutions for hotels and B&Bs, integrating capabilities to capture greater market share in China's on-demand service sector. The transaction is expected to close in October 2020, pending corporate approvals and customary conditions.

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.