Quhuo Ltd Stock Price, News & Analysis

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.

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.