Quhuo Limited to Hold Extraordinary General Meeting on October 8, 2025
Rhea-AI Summary
Quhuo Limited (NASDAQ: QH), a leading Chinese gig economy platform, has announced an extraordinary general meeting (EGM) scheduled for October 8, 2025. The meeting will present several significant proposals including: increasing the company's authorized share capital from US$500,000 to US$10,000,000, creating a new class of shares (Class C Ordinary Shares), and amending the company's Articles of Association.
A key proposal includes issuing 100,000,000 Class C Ordinary Shares to LESYU Investments Limited, owned by Chairman and CEO Leslie Yu, for US$10,000. These Class C shares will carry voting power equivalent to 480 Class A Ordinary Shares each. The record date for shareholder participation is set for September 5, 2025.
Positive
- None.
Negative
- Creation of Class C shares with 480x voting power could significantly concentrate control with the CEO
- Substantial increase in authorized share capital may lead to potential future dilution
News Market Reaction
On the day this news was published, QH declined 2.18%, reflecting a moderate negative market reaction. Argus tracked a peak move of +9.4% during that session. Our momentum scanner triggered 9 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $140K from the company's valuation, bringing the market cap to $6M at that time.
Data tracked by StockTitan Argus on the day of publication.
The proposals to be submitted for shareholders' approval at the EGM include the following:
- by way of an ordinary resolution, to increase the Company's authorized share capital FROM
US divided into 5,000,000,000 shares comprising of (i) 4,993,703,370 Class A ordinary shares of a par value of$500,000 US each ("Class A Ordinary Shares") and (ii) 6,296,630 Class B ordinary shares of a par value of$0.00 01US each ("Class B Ordinary Shares"), TO$0.00 01US divided into 100,000,000,000 shares comprising of (i) 80,000,000,000 Class A Ordinary Shares, (ii) 6,296,630 Class B Ordinary Shares, and (iii) 19,993,703,370 shares of a par value of$10,000,000 US each of such class or classes (however designated) ("Un-designated Shares"), by the creation of an additional 75,006,296,630 Class A Ordinary Shares and 19,993,703,370 Un-designated Shares (the "Increase of Authorized Share Capital");$0.00 01 - by way of a special resolution, to amend the authorised share capital of the Company by the creation of a new class of shares, namely Class C ordinary shares, par value of
US each ("Class C Ordinary Shares"), by the redesignation of 500,000,000 authorised but unissued Un-designated Shares as Class C Ordinary Shares on a one-for-one basis, each carrying voting power equivalent to 480 Class A Ordinary Shares (the "Re-designation of Shares"), such that, immediately following the Re-designation of Shares, the authorised share capital of the Company shall be$0.00 01US divided into 100,000,000,000 shares comprising (i) 80,000,000,000 Class A Ordinary Shares; (ii) 6,296,630 Class B Ordinary Shares; (iii) 500,000,000 Class C Ordinary Shares, and (iv) 19,493,703,370 Un-designated Shares;$10,000,000 - by way of a special resolution, subject to shareholders' approval of the Increase of Authorized Share Capital and the Re-designation of Shares, to amend and restate the Company's Third Amended and Restated Memorandum and Articles of Association (the "Articles") by the deletion in their entirety and to approve and adopt the substitution in their place of the Fourth Amended and Restated Memorandum and Articles of Association, with immediate effect in substitution for and to the exclusion of the Articles currently in effect, which, among others, incorporates the Increase of Authorized Share Capital and the Re-designation of Shares; and
- by way of a special resolution, to issue to LESYU Investments Limited, a
British Virgin Islands company wholly-owned by Mr. Leslie Yu, the Chairman and Chief Executive Officer of the Company, 100,000,000 Class C Ordinary Shares at par value each, for an aggregate consideration ofUS .$10,000
The Board has fixed September 5, 2025 as the record date (the "Record Date") for determining the shareholders entitled to receive notice of, attend and vote at the EGM or any adjournment or postponement thereof. Holders of record of the Company's Class A and Class B Ordinary Shares at the close of business on the Record Date are entitled to attend and vote at the EGM and any adjournment or postponement thereof in person. The notice of the EGM and the form of proxy are expected to be first mailed to the Company's shareholders on or about September 11, 2025.
Quhuo Limited (NASDAQ: QH) ("Quhuo" or the "Company") is a leading gig economy platform focusing on local community-centered services in
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.
For more information about Quhuo, please visit https://www.quhuo.cn/
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SOURCE Quhuo Limited
FAQ
When and where will Quhuo (QH) hold its extraordinary general meeting?
What is the proposed increase in Quhuo's authorized share capital?
What are the voting rights of Quhuo's new Class C Ordinary Shares?
How many Class C Ordinary Shares will be issued to Quhuo's CEO Leslie Yu?
What is the record date for Quhuo's extraordinary general meeting?
