Quhuo Files its Annual Report on Form 20-F for Fiscal Year 2022

Rhea-AI Summary

Quhuo Limited (NASDAQ: QH) announced the filing of its annual report on Form 20-F for the fiscal year ending December 31, 2022, with the SEC on April 20, 2023. This filing includes the Company's audited consolidated financial statements accessible via its investor relations website or the SEC's site. As a leading gig economy platform in China, Quhuo focuses on local life services, leveraging its proprietary Quhuo+ technology to connect workers and service providers. The Company emphasizes employment promotion, income stabilization, and entrepreneurial empowerment through various operational solutions.

Quhuo aims to meet the needs of millions of families through on-demand delivery, mobility services, housekeeping, and more.

Positive

• Filing of annual report on Form 20-F indicates compliance with SEC regulations.
• Strong focus on local life services positioning Quhuo as a leading gig economy platform in China.

Negative

• Risks associated with managing growth and expanding operations in a competitive market.
• Uncertainties regarding maintaining relationships with existing customers and attracting new ones.

BEIJING, April 21, 2023 /PRNewswire/ -- Quhuo Limited (NASDAQ: QH) ("Quhuo," the "Company," "we" or "our"), a leading gig economy platform focusing on local life services in China, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2022 with the Securities and Exchange Commission (the "SEC") on April 20, 2023.

The annual report, which contains the Company's audited consolidated financial statements, can be accessed on the Company's investor relations website at https://ir.quhuo.cn/ or the SEC's website at www.sec.gov. The Company will provide a hard copy of the annual report, free of charge, to its shareholders and ADS holders upon request.

About Quhuo

Quhuo Limited (NASDAQ: QH) ("Quhuo" or the "Company") is a leading gig economy platform focusing on local life services in China. Leveraging Quhuo+, its proprietary technology infrastructure, Quhuo is dedicated to empowering and linking workers and local life service providers and providing end-to-end operation solutions for the life service market. The Company currently provides multiple industry-tailored operational solutions, primarily including on-demand delivery solutions, mobility service solutions, housekeeping and accommodation solutions, and other services, meeting the living needs of hundreds of millions of families in the communities.

With the vision of promoting employment, stabilizing income and empowering entrepreneurship, Quhuo explores multiple scenarios to promote employment of workers, provides, among others, safety and security and vocational training to protect workers, and helps workers plan their career development paths to realize their self-worth.

SAFE HARBOR STATEMENT

This press release contains ''forward-looking statements'' within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical or current fact included in this press release are forward-looking statements, including but not limited to statements regarding Quhuo's business development, financial outlook, beliefs and expectations. Forward-looking statements include statements containing words such as "expect," "anticipate," "believe," "project," "will" and similar expressions intended to identify forward-looking statements. These forward-looking statements are based on Quhuo's current expectations and involve risks and uncertainties. Quhuo's actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks and uncertainties related to Quhuo's abilities to (1) manage its growth and expand its operations, (2) address any or all of the risks and challenges in the future in light of its limited operating history and evolving business portfolios, (3) remain in its competitive position in the on-demand food delivery market or further diversify its solution offerings and customer portfolio, (4) maintain relationships with major customers and to find replacement customers on commercially desirable terms or in a timely manner or at all, (5) maintain relationships with existing industry customers or attract new customers, (6) attract, retain and manage workers on its platform, and (7) maintain its market shares in relation to competitors in existing markets and its success in expansion into new markets, as well as the development of the COVID-19 pandemic and its impact on Quhuo's business and industry. Other risks and uncertainties are included under the caption "Risk Factors" and elsewhere in the Company's filings with the Securities and Exchange Commission, including, without limitation, the final prospectus related to the IPO filed with the SEC on July 10, 2020 and the Company's latest annual report on Form 20-F. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and Quhuo undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.

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SOURCE Quhuo Limited

FAQ

What does Quhuo's annual report on Form 20-F include?

Quhuo's annual report contains audited consolidated financial statements for the fiscal year ended December 31, 2022.

When was Quhuo's annual report filed?

Quhuo filed its annual report on Form 20-F on April 20, 2023.

How can shareholders access Quhuo's annual report?

Shareholders can access the report on Quhuo's investor relations website or the SEC's website.

What services does Quhuo offer?

Quhuo provides on-demand delivery, mobility services, housekeeping, and other local life solutions.

What are the risks mentioned in Quhuo's press release?

Risks include managing growth, maintaining customer relationships, and competition in the market.