Quhuo Ltd
NASDAQ:QH
Quhuo Ltd
Quhuo Ltd. engages in the development of workforce operational solution platform. The company is headquartered in Beijing, Beijing and currently employs 708 full-time employees. The company went IPO on 2020-07-10. The firm's businesses include on-demand food delivery solution services, bike-sharing maintenance solution services, ride-hailing solutions services, housekeeping solutions and other services. The on-demand food delivery solution services are operated to assign the Company’s delivery riders to target delivery areas and thus serve the industry customers. They also include the training and management for the riders. The bike-sharing maintenance solution services provide maintenance of orderliness of bikes, redistribution and transportation of idled bikes. The ride-hailing solutions services include the leasing of cars to the drivers and the provision of ride-hailing management services.
Quhuo Ltd. engages in the development of workforce operational solution platform. The company is headquartered in Beijing, Beijing and currently employs 708 full-time employees. The company went IPO on 2020-07-10. The firm's businesses include on-demand food delivery solution services, bike-sharing maintenance solution services, ride-hailing solutions services, housekeeping solutions and other services. The on-demand food delivery solution services are operated to assign the Company’s delivery riders to target delivery areas and thus serve the industry customers. They also include the training and management for the riders. The bike-sharing maintenance solution services provide maintenance of orderliness of bikes, redistribution and transportation of idled bikes. The ride-hailing solutions services include the leasing of cars to the drivers and the provision of ride-hailing management services.
Revenue Decline: Total revenue fell 30.2% year-over-year to RMB 1,131.4 million, mainly due to business optimization and closure of underperforming sites.
Profitability Pressures: Gross profit dropped sharply to RMB 4.1 million, and the company posted a net loss of RMB 53 million, wider than last year.
Housekeeping Growth: Housekeeping and accommodation revenue soared 70.8% year-over-year, driven by strong performance in Chengtu Homestay and LaiLai.
Strategic Shift: Quhuo is moving from a traditional service provider to a platform and asset manager, including participating in trust fund initiatives to unlock new revenue streams.
International Expansion: Used car exports posted improved gross margins, with new business models showing potential for higher profitability and long-term growth.
New Partnerships: Recent deals with JD Takeaway and New World are expected to bring incremental volume and revenue, supporting the company's dual-track growth strategy.
