STOCK TITAN

Quhuo (NASDAQ: QH) hit with Nasdaq delisting move as ADS trading set to suspend

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

Quhuo Limited has received a Nasdaq Staff Delisting Determination after the closing bid price of its American depositary shares stayed at $0.10 or below for 10 consecutive trading days through March 25, 2026. Nasdaq plans to suspend trading of the ADSs at the opening of business on April 6, 2026.

The company currently intends to appeal the delisting decision to the Nasdaq Hearings Panel and must submit its hearing request by 4:00 p.m. Eastern Time on April 6, 2026. A timely appeal will not prevent the trading suspension, and there is no assurance the appeal or any further review will succeed.

Positive

  • None.

Negative

  • Nasdaq delisting determination and trading suspension: Nasdaq has determined to delist Quhuo Limited’s ADSs after the bid price stayed at $0.10 or below for 10 consecutive trading days, with trading suspension scheduled for April 6, 2026, and no assurance that an appeal will succeed.

Insights

Nasdaq delisting move is a clearly negative, listing-status event.

Quhuo Limited disclosed that Nasdaq issued a Staff Delisting Determination because its ADS closing bid price stayed at $0.10 or below for 10 consecutive trading days through March 25, 2026. Nasdaq plans to suspend trading of the ADSs on April 6, 2026, a material change in listing status.

The company intends to appeal to the Nasdaq Hearings Panel and must file its request by 4:00 p.m. Eastern Time on April 6, 2026. However, the appeal will not stay the trading suspension and the company explicitly notes there can be no assurance of success or of regaining compliance with applicable Nasdaq listing rules.

If the company does not prevail, Nasdaq may file a Form 25-NSE to remove the ADSs from listing and registration on The Nasdaq Stock Market. Any outcome will depend on the appeal process and the company’s ability to meet Nasdaq’s standards, as described in its risk disclosures and forward-looking statements.

Trigger bid price $0.10 per ADS Closing bid price remained at or below this level for 10 consecutive trading days through March 25, 2026
Non-compliance period 10 consecutive trading days Period during which ADS closing bid price was at or below $0.10 through March 25, 2026
Trading suspension date April 6, 2026 Date when Nasdaq will suspend trading of Quhuo’s ADSs at market open
Hearing request deadline 4:00 p.m. ET, April 6, 2026 Deadline to submit appeal request to Nasdaq Hearings Department
Form 25-NSE Potential filing Form Nasdaq may file to remove ADSs from listing and registration if delisting proceeds
Staff Delisting Determination Letter regulatory
"it received a Staff Delisting Determination Letter from the Listing Qualifications Department"
Form 25-NSE regulatory
"Nasdaq would file a Form 25-NSE with the U.S. Securities and Exchange Commission"
Form 25‑NSE is an official filing used to notify the stock exchange that a company’s securities are being removed from trading on that exchange, similar to handing in a key when a shop closes. Investors care because removal ends public trading on that venue, often cutting liquidity and making it harder to buy or sell shares, which can affect a stock’s price and how quickly investors can access cash or exit positions.
Nasdaq Hearings Panel regulatory
"The Company currently intends to appeal the Delisting Determination to the Nasdaq Hearings Panel"
A Nasdaq hearings panel is a group of experts that reviews cases when a company's stock listing is at risk of being removed from the exchange. They evaluate whether the company has met certain standards and determine if it can keep trading on Nasdaq. This process matters to investors because it can affect a company's ability to raise money and maintain credibility in the market.
forward-looking statements regulatory
"This Form 6-K includes “forward-looking statements” within the meaning of the “safe harbor” provisions"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
Nasdaq Listing Rules regulatory
"Quhuo’s ability to regain compliance with the applicable Nasdaq Listing Rules within any period"
Nasdaq listing rules are the rulebook a company must follow to have its shares traded on the Nasdaq stock exchange, covering entry requirements and ongoing standards for finances, corporate governance, public disclosure and reporting. For investors they matter because the rules create baseline checks — like a driver’s license and regular inspections for a car — that promote transparency, comparability and reduce the risk of fraud or sudden delisting.

 

 

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 April 2026

 

Commission File Number 001-39354

 

Quhuo Limited

(Exact name of registrant as specified in its charter)

 

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 office)

 

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

 

On March 27, 2026, Quhuo Limited (the “Company”) received a Staff Delisting Determination Letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, because the closing bid price of its American depositary shares (the “ADSs”) had remained at $0.10 or below for 10 consecutive trading days through March 25, 2026, Nasdaq had determined to delist the Company’s ADSs from The Nasdaq Global Market (the “Delisting Determination”). Trading in the Company’s ADSs will be suspended at the opening of business on April 6, 2026. Unless the Company timely requests a hearing pursuant to Nasdaq Listing Rule 5815, Nasdaq would file a Form 25-NSE with the U.S. Securities and Exchange Commission to remove the ADSs from listing and registration on The Nasdaq Stock Market in accordance with Nasdaq Listing Rule 5830.

 

The Company currently intends to appeal the Delisting Determination to the Nasdaq Hearings Panel. The hearing request must be received by the Nasdaq Hearings Department no later than 4:00 p.m. Eastern Time on April 6, 2026. A timely request will not stay the trading suspension of the ADSs. There can be no assurance that the Company’s request will be successful.

 

On April 2, 2026, the Company issued a press release regarding the Delisting Determination. A copy of the press release is attached to this Form 6-K as Exhibit 99.1.

 

This Form 6-K includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Quhuo Limited’s actual results may differ from its expectations, estimates and projections, and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believe,” “hope,” “predict,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, Quhuo’s expectations with respect to the appeal of the Delisting Determination, the timing and outcome of any hearing before the Nasdaq Hearings Panel, any further review by the Nasdaq Listing and Hearing Review Council, if applicable, and Quhuo’s ability to regain compliance with the applicable Nasdaq Listing Rules within any period that may be granted by Nasdaq. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from the expected results. Most of these factors are outside Quhuo’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to, risks related to the appeal process, the outcome of any hearing or further review by Nasdaq, Quhuo’s ability to regain compliance with the applicable Nasdaq Listing Rules, and the timing of any suspension in trading of Quhuo’s American depositary shares or the filing of a Form 25-NSE by Nasdaq, as well as the risks and uncertainties set forth under “Risk Factors” in Quhuo’s filings with the SEC. Quhuo cautions that the foregoing list of factors is not exclusive. There can be no assurance that Quhuo will prevail in any appeal, that Nasdaq will grant any additional period to regain compliance, or that Quhuo will be able to regain compliance with the applicable Nasdaq Listing Rules. Quhuo cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Quhuo does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable law.

 

INCORPORATION BY REFERENCE

 

This Report on Form 6-K, including all exhibits hereto, is incorporated by reference into the registration statements on Form F-3, as amended (File Nos. 333-273087 and 333-281997), 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.

 

EXHIBIT INDEX

 

Exhibit No.   Description
99.1   Press Release, dated April 2, 2026

 

2

 

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 hereunto duly authorized.

 

  Quhuo Limited
     
Date: April 2, 2026 By: /s/ Leslie Yu
    Name: Leslie Yu
    Title: Chairman and Chief Executive Officer

 

3

Exhibit 99.1

 

Quhuo Limited Announces Nasdaq Delisting Determination

 

BEIJING, China, April 2, 2026 /PRNewswire/ — Quhuo Limited (“Quhuo” or the “Company”) (Nasdaq: QH), an exempted company incorporated in the Cayman Islands, today announced that, on March 27, 2026, it received a Staff Delisting Determination Letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”), notifying the Company that, because the closing bid price of its American depositary shares (the “ADSs”) had remained at $0.10 or below for 10 consecutive trading days through March 25, 2026, Nasdaq had determined to delist the Company’s ADSs from The Nasdaq Global Market. Trading in the Company’s ADSs will be suspended at the opening of business on April 6, 2026. Unless the Company timely requests a hearing pursuant to Nasdaq Listing Rule 5815, Nasdaq would file a Form 25-NSE with the U.S. Securities and Exchange Commission to remove the ADSs from listing and registration on The Nasdaq Stock Market in accordance with Nasdaq Listing Rule 5830.

 

The Company currently intends to appeal the delisting determination to the Nasdaq Hearings Panel. The hearing request must be received by the Nasdaq Hearings Department no later than 4:00 p.m. Eastern Time on April 6, 2026. A timely hearing will not stay the trading suspension of the ADSs. There can be no assurance that the Company’s hearing will be successful.

 

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, 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 intention to appeal the Delisting Determination, the timing and outcome of any hearing before the Nasdaq Hearings Panel, any further review by the Nasdaq Listing and Hearing Review Council, if applicable, and Quhuo’s ability to regain compliance with the applicable Nasdaq listing requirements. 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 ability 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) maintain 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 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 share relative to competitors in existing markets and succeed in expanding into new markets. Other risks and uncertainties are included under the caption “Risk Factors” and elsewhere in the Company’s filings with the SEC, including, without limitation, 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.

 

For investor inquiries, please contact:

 

Quhuo Limited

Investor Relations

Email: ir@meishisong.cn

 

FAQ

Why did Nasdaq issue a delisting determination for Quhuo Limited (QH)?

Nasdaq issued a delisting determination because Quhuo Limited’s ADS closing bid price stayed at $0.10 or below for 10 consecutive trading days through March 25, 2026. This price performance triggered Nasdaq’s rules for initiating delisting of the company’s securities.

When will trading of Quhuo Limited (QH) ADSs be suspended on Nasdaq?

Trading of Quhuo Limited’s ADSs on Nasdaq is scheduled to be suspended at the opening of business on April 6, 2026. This suspension follows Nasdaq’s Staff Delisting Determination tied to the ADS bid price staying at or below $0.10 for 10 consecutive trading days.

Is Quhuo Limited (QH) appealing the Nasdaq delisting determination?

Quhuo Limited currently intends to appeal the delisting determination to the Nasdaq Hearings Panel. The company must submit its hearing request by 4:00 p.m. Eastern Time on April 6, 2026, and notes there is no assurance the appeal will be successful.

What happens if Quhuo Limited (QH) does not successfully appeal the delisting?

If Quhuo Limited’s appeal is not successful or not pursued, Nasdaq may file a Form 25-NSE with the SEC. That filing would remove the company’s ADSs from listing and registration on The Nasdaq Stock Market under applicable Nasdaq rules.

Does Quhuo Limited (QH) provide any forward-looking statements about the delisting process?

Yes. Quhuo includes forward-looking statements about its intention to appeal, potential hearing outcomes, any further Nasdaq review, and possible regaining of compliance. It highlights significant risks and uncertainties and cautions investors not to place undue reliance on these statements.

Filing Exhibits & Attachments

1 document