Quhuo Limited (NASDAQ: QH) ends ADRs and consolidates shares 32,000-to-1

Rhea-AI Filing Summary

Quhuo Limited is terminating its American Depositary Receipt (ADR) program and the related Deposit Agreement, with both expected to end before the market opens on July 17, 2026. At that time, all American Depositary Shares (ADSs) will be mandatorily cancelled and the underlying Class A ordinary shares distributed to ADS holders.

In connection with this change, Quhuo will implement a share consolidation, combining every 32,000 ordinary shares into one new ordinary share. Each ADS will convert into 0.84375 post‑consolidation Class A ordinary share. The Class A ordinary shares are expected to begin trading directly on Nasdaq on July 17, 2026 under the symbol “QH”, with Transhare Corporation serving as transfer agent in the United States.

Key Figures

ADR termination date: July 17, 2026 Share consolidation ratio: 32,000 ordinary shares into one new ordinary share ADS to share conversion: 0.84375 Class A ordinary share per ADS +1 more

4 metrics

ADR termination date July 17, 2026 ADR program and Deposit Agreement expected to terminate prior to market open

Share consolidation ratio 32,000 ordinary shares into one new ordinary share Share Consolidation implemented in conjunction with ADR termination

ADS to share conversion 0.84375 Class A ordinary share per ADS Each ADS converts into post-consolidation Class A ordinary share

Termination notice date June 16, 2026 Depositary instructed to distribute ADR termination notice to ADS holders

Key Terms

American Depositary Receipt program, Deposit Agreement, share consolidation, transfer agent, +1 more

5 terms

American Depositary Receipt program financial

"it has commenced to terminate its American Depositary Receipt program"

Deposit Agreement regulatory

"The ADR program to be terminated was established pursuant to the deposit Agreement"

A deposit agreement is a written contract between a customer and a financial institution that outlines the terms for opening and maintaining a deposit account, such as a savings or checking account. It explains important details like how funds can be accessed, any fees involved, and the institution’s responsibilities. For investors, understanding this agreement is important because it clarifies their rights and the rules governing their deposited funds.

share consolidation financial

"the Company will implement a share consolidation, consolidating every 32,000 ordinary shares"

Share consolidation is a process where a company reduces the total number of its shares by combining multiple existing shares into a smaller number of higher-value shares. This can make each share more expensive and potentially improve the company’s image. For investors, it often means their ownership remains the same, but the value of each share increases, which can influence how the stock is perceived and traded.

transfer agent financial

"The Company has appointed Transhare Corporation as its transfer agent in the United States"

A transfer agent is a financial service that keeps the official record of who owns a company's shares, handles the buying and selling of those shares on paper or electronically, and issues or cancels stock certificates. Think of it as the company’s records keeper and mailroom combined—investors rely on it to make sure dividends, shareholder mailings, ownership changes, and proxy voting are processed accurately and securely, which protects ownership rights and helps prevent errors or fraud.

registration statements on Forms F-3 regulatory

"incorporated by reference into the registration statements on Forms F-3"

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FAQ

What is Quhuo Limited (QH) changing about its U.S. listing structure?

Quhuo Limited is terminating its ADR program and listing its Class A ordinary shares directly on Nasdaq. ADSs will be cancelled and the underlying Class A ordinary shares distributed to ADS holders when trading in the ordinary shares is expected to begin on July 17, 2026.

When will Quhuo Limited (QH) terminate its ADR program and cancel ADSs?

The ADR program and Deposit Agreement are expected to terminate before the market opens on July 17, 2026. At that time, Quhuo’s ADSs will be mandatorily cancelled and the Class A ordinary shares underlying the ADSs will be distributed to ADS holders.

What share consolidation is Quhuo Limited (QH) implementing with this change?

Quhuo will implement a share consolidation, combining every 32,000 ordinary shares into one new ordinary share. This consolidation occurs in conjunction with the ADR termination and affects how many post‑consolidation Class A ordinary shares each former ADS holder will receive.

How many Quhuo Limited (QH) Class A shares will each ADS convert into?

Each Quhuo ADS will convert into 0.84375 post‑consolidation Class A ordinary share. This ratio applies after the 32,000‑to‑1 share consolidation and determines the number of Nasdaq‑listed Class A ordinary shares distributed to each ADS holder upon ADR program termination.

Under what symbol and from what date will Quhuo Limited (QH) ordinary shares trade on Nasdaq?

Quhuo’s Class A ordinary shares are expected to commence trading on Nasdaq when the market opens on July 17, 2026, under the symbol “QH”. These ordinary shares will substitute for the ADSs previously representing Quhuo equity on Nasdaq.

Who is the transfer agent for Quhuo Limited (QH) Class A ordinary shares in the U.S.?

Quhuo has appointed Transhare Corporation as transfer agent in the United States for its Class A ordinary shares. Transhare will handle share registration and related transfer functions following the transition from ADSs to directly listed ordinary shares on Nasdaq.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

under the Securities Exchange Act of 1934

For the month of July 2026

Commission File Number 001-39354 

Quhuo Limited 

3F, Building A, Xin’anmen, No. 1 South Bank

Huihe South Street, Chaoyang District Beijing,

People’s Republic of China

+86 (10) 5923-6208

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

☒ Form 20-F       ☐ Form 40-F

INFORMATION CONTAINED IN THIS REPORT ON FORM 6-K

Termination of its American Depositary Receipt Program and Consolidated Class A Ordinary Shares to Trade on Nasdaq

As previously approved by its shareholders of Quhuo Limited (the “Company”) at the extraordinary general meeting of shareholders on March 11, 2026 and its board of directors on February 12, 2026, the Company today announces that it has commenced to terminate its American Depositary Receipt program (the “ADR program”), including the termination of any related deposit agreement, as amended, and list the Company’s Class A ordinary shares directly on The Nasdaq Stock Market LLC (the “Nasdaq”). The ADR program to be terminated was established pursuant to the deposit Agreement, dated July 9, 2020, as amended, among the Company, Deutsche Bank Trust Company Americas (the “Depositary”) and the holders and beneficial owners of the American Depositary Shares (“ADSs”) issued thereunder (the “Deposit Agreement”).

The ADR program and the Deposit Agreement are expected to terminate prior to the opening of the market on July 17, 2026. At that time, the Company’s ADSs will be mandatorily cancelled and the Class A ordinary shares underlying the ADSs will be distributed to ADS holders. The Company instructed the Depositary to distribute a termination notice to holders of ADSs on June 16, 2026, which provided more information regarding the termination of the ADR program.

In conjunction with the termination of the ADR program, the Company will implement a share consolidation, consolidating every 32,000 ordinary shares into one new ordinary share (“Share Consolidation”). Each holder of one (1) ADS will receive 0.84375 post consolidation Class A ordinary share. In connection with the termination of the ADR program and Share Consolidation, the Company plans to list its Class A ordinary shares for trading on Nasdaq in substitution for the ADSs. The Company’s Class A ordinary shares are expected to commence trading on Nasdaq when the market opens on July 17, 2026 under the symbol “QH” with the new CUSIP number G73264114. 

The Company has appointed Transhare Corporation as its transfer agent in the United States for its Class A ordinary shares.

INCORPORATION BY REFERENCE

This Report on Form 6-K is incorporated by reference into the registration statements on Forms F-3, as amended (File Nos. 333-273087 and 333-281997) and Forms S-8 (File Nos. 333-248884 and 333-294951), of Quhuo Limited and shall be deemed a part thereof from the date on which this Report on Form 6-K is furnished, to the extent not superseded by subsequently filed or furnished documents or reports.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	Quhuo Limited
	By:	/s/ Leslie Yu
	Name:	Leslie Yu
	Title:	Chairman and Chief Executive Officer

Date: July 15, 2026 

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