Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ...

Financial Data and Key Metrics Changes - In 2024, the company achieved revenue of RMB 3 billion, with adjusted EBITDA of RMB 9 million, demonstrating positive EBITDA for three consecutive fiscal years [6] - Total revenue for the fiscal year 2024 was RMB 3,046.8 million, a decrease of 17.7% compared to RMB 3,702.4 million in 2023 [26] - Adjusted net income was RMB 1.6 million in 2024, down from RMB 6 million in 2023 [28] Business Line Data and Key Metrics Changes - Revenue from on-demand delivery solutions was RMB 2,828.5 million in 2024, a decrease of 17.1% compared to 2023 [26] - Revenue from mobility service solutions decreased by 25.1%, primarily due to a reduction in vehicles sold in the vehicle export solution business [26] - Gross profit for bike maintenance and ride building services grew significantly, with gross profit margin for housekeeping and accommodation services increasing from 26% to 36% [7][8] Market Data and Key Metrics Changes - The used vehicle export business, represented by Qubo International, exported over 3,500 cars to various regions, establishing a recognized certification brand [10] - The company has provided flexible employment opportunities for over 83,000 workers, contributing to social value while pursuing commercial success [17] Company Strategy and Development Direction - The company is focusing on a strategic transformation aimed at balancing commercial and social value through ecosystem empowerment and model innovation [5] - Future plans include replicating successful business models in more overseas markets and enhancing operational efficiency through technology and resource export solutions [12][13] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of maintaining business quality amidst market uncertainties to generate long-term development momentum [8] - The partnership with New World is expected to significantly contribute to revenues by 2025, marking a transformation from a service partner to a supply chain enabler [33] Other Important Information - General and administrative expenses decreased by 19% year on year, reflecting improved operational efficiency [6] - R&D expenses decreased by 13% year on year, with continuous cost reduction achieved through AI technology [6] Q&A Session Summary Question: What is the current progress of the cooperation with New World and what are the company's expectations? - The partnership with New World has improved the efficiency of beef delivery, and both parties are establishing a joint venture to incubate new restaurant brands, with significant revenue contributions expected by 2025 [32][33]

BEIJING, April 29, 2025 /PRNewswire/ -- Quhuo Limited (NASDAQ: QH) ("Quhuo," the "Company," "we" or "our"), a leading gig economy platform focusing on local life services in China, today reported its unaudited financial results for the six months and audited financial results for full year ended December 31, 2024.2024 marked a year of strategic transformation for Quhuo. Despite market challenges, the Company strengthened its core businesses and achieved steady gross profit margin growth in certain business ...

BEIJING, April 29, 2025 /PRNewswire/ -- Quhuo Limited (Nasdaq: QH) ("Quhuo," the "Company," "we" or "our"), a leading gig economy platform focusing on local life services in China, today reported its unaudited financial results for the six months and full year ended December 31, 2024.Financial and Operational Highlights for the Second Half of 2024 Net income was RMB48.1 million (US$6.6 million), representing a year-over-year increase of 311.1% from RMB11.7 million. Adjusted EBITDA was RMB43.8 million (US$6. ...

BEIJING, Nov. 14, 2024 /PRNewswire/ -- During the 7th China International Import Expo (CIIE), Quhuo International, the overseas division of Quhuo Limited (NASDAQ: QH), announced a strategic partnership with Panasonic Navinfo Mobility Technology Service (Beijing) Co., Ltd. ("Panasonic Navinfo"), a joint venture company. The collaboration aims to strengthen export support for new energy vehicles (NEVs) through technological and service innovation, improve full-process management, and help Chinese NEVs excel i ...

Core Insights - Quhuo Limited's homestay division, Chengtu Home, reported a significant increase in performance during the National Day holiday, with GMV rising 92% year-over-year and average daily GMV increasing by 123% [1][7] - Chengtu's peak occupancy reached 90% of available rooms during this period, reflecting strong demand in the local life services market [1] Business Performance - Approximately 765 million domestic trips were made in China during the National Day holiday in 2024, marking a 5.9% increase year-over-year, which contributed to Chengtu's strong performance [2] - Chengtu initiated a business upgrade in September 2024 to enhance guest experiences and differentiate itself from competitors [2] Product Offering - On September 1, 2024, Chengtu launched its own booking platform with 2,000 high-quality listings across 51 cities in China, offering six functional room types tailored to various consumer needs [3] - The room types include Care, E-sports, Business Travel, Family, Cinema, and Elegant Retreat, allowing for customized accommodation solutions [3] Service Quality and Customer Experience - Chengtu focuses on addressing key consumer concerns such as accurate property listings, easy booking, fair pricing, and hygiene [4] - The company employs professional photographers for property listings and provides detailed descriptions to help guests plan their trips effectively [5] - Chengtu has simplified the booking process through its new platform and prohibits price hikes during holidays, ensuring fair pricing [5] Hygiene and Safety Measures - Chengtu has implemented a comprehensive hygiene and safety system, including smart locks and self-service check-ins to enhance guest privacy and security [6] - The cleaning team follows strict protocols to ensure high cleanliness standards, including thorough cleaning and linen changes between stays [6] Customer Feedback and Continuous Improvement - Chengtu values guest feedback and uses it to guide service improvements, which has contributed to steady growth compared to previous holidays [7] - The company aims to enhance customer experience and expand product lines to boost satisfaction and competitiveness in the homestay market [8]

Group 1 - Quhuo Limited has regained compliance with Nasdaq's minimum market value and bid price requirements, confirming its adherence to all continued listing criteria [1] - The company operates as a leading gig economy platform in China, focusing on local life services and leveraging its proprietary technology infrastructure, Quhuo+ [2] - Quhuo provides various operational solutions, including on-demand delivery, mobility services, housekeeping, and accommodation, catering to the needs of millions of families [2] Group 2 - The company's vision includes promoting employment, stabilizing income, and empowering entrepreneurship, while also offering safety, security, and vocational training for workers [2] - Quhuo aims to assist workers in planning their career development paths to help them realize their self-worth [2]

BEIJING, Sept. 26, 2024 /PRNewswire/ -- Quhuo Limited (NASDAQ: QH) ("Quhuo" or the "Company"), a leading gig economy platform focusing on local life services in China, has announced the launch of a new booking platform with six functional room types through its homestay division, Chengtu Home ("Chengtu"). This development is designed to offer users a broader range of high-quality accommodation choices, representing a significant advancement in Chengtu's service capabilities.In September 2024, Chengtu launch ...

BEIJING, Sept. 11, 2024 /PRNewswire/ -- Recently, Song Penghua, a rider for Quhuo Limited (NASDAQ: QH) ("Quhuo" or "the company"), a leading gig economy platform focusing on local life services, was honored as the model worker, as the only delivery rider, in Henan Province. This accolade follows his previous recognition as a model worker in Zhengzhou City last year. These honors affirm his personal achievements and underscore the growing significance of new forms of employment in China's economic and social ...

BEIJING, Sept. 4, 2024 /PRNewswire/ -- Recently, Quhuo International, the overseas division of Quhuo Limited (NASDAQ: QH), and GET Holdings established a strategic partnership in Azerbaijan with electric vehicle (EV) dealer Volt Auto and mobility platform Bolt. This strategic partnership aims to boost EV adoption, improve ride-hailing services, and enhance local lifestyle services, marking a key step in Quhuo International's global strategy.The global EV market is booming, with sales hitting nearly 14 milli ...