Core Viewpoint - Quhuo Limited demonstrated stable business growth in the first half of 2024 despite a complex global economic environment, achieving a total revenue of RMB 1.62 billion and a gross margin of 5.6%, surpassing last year's performance [5][6][15]. Financial Performance - Total revenue decreased by 6.7% year-on-year from RMB 1,736.3 million to RMB 1,619.9 million [16]. - Revenue from on-demand delivery solutions was RMB 1,499.1 million, a decrease of 9.1% from the previous year [16]. - Revenue from Mobility Service Solutions increased by 71.7% year-on-year to RMB 100.5 million, driven by a significant growth in vehicle export solutions [17]. - Housekeeping and accommodation solutions revenue decreased by 27.8% to RMB 20.4 million due to a business model transition [17]. - General and administrative expenses decreased by 13.2% year-on-year to RMB 7.9 million, reflecting improved operational efficiency [18]. - The company recorded a net loss of RMB 5.7 million compared to a loss of RMB 46.5 million in the same period last year [19][20]. Business Segments - The Mobility Services segment saw a revenue increase of 71.7% year-on-year, with shared-bike maintenance service revenue growing by 6.2% and ride-hailing service revenue increasing by 47.5% [7]. - The housekeeping service segment's gross profit increased by 28.5% year-on-year, with gross margin rising from 13.8% to 24.6% [8]. - Quhuo successfully exported 815 new energy vehicles, marking a 389% year-on-year increase in international vehicle export solutions [7]. Strategic Focus - Quhuo is addressing three key issues to deliver continuous value: enhancing employment opportunities, expanding homestay services, and revitalizing existing housing inventory [9][10][11]. - The company is collaborating with a leading long-term rental platform to explore a combined rental model for idle properties, aiming to improve operational efficiency and create commercial value [11]. - Quhuo is leveraging its competitive advantage in new energy vehicle exports, with plans to expand market share and business coverage in the second half of 2024 [12][13]. Future Outlook - Quhuo plans to redefine its international business model and optimize new business processes with partners to drive growth in revenue and profit [21][22]. - The company aims to solidify its position in the international market and expects to enter the next stage of development for Quhuo International in the second half of 2024 [23].

Financial Data and Key Metrics - Total revenue for H1 2024 was RMB 1.62 billion, a decrease of 6.7% compared to RMB 1.74 billion in H1 2023 [5][16] - Gross margin improved to 5.6%, surpassing the previous year's performance [6] - General and administrative expenses decreased by 13.2% year-on-year due to lean management [6] - Net loss for H1 2024 was RMB 46.5 million, compared to a net loss of RMB 5.7 million in H1 2023 [19] - Adjusted EBITDA loss was RMB 34.8 million, compared to an adjusted EBITDA of RMB 11.1 million in H1 2023 [20] Business Segment Performance - Mobility Services segment revenue increased by 71.7% year-on-year, driven by a 389% growth in international vehicle export solutions [7] - Shared-bike maintenance service revenue grew by 6.2% year-on-year, while ride-hailing service revenue increased by 47.5% year-on-year [7] - Housekeeping service segment gross profit increased by 28.5% year-on-year, with gross margin rising from 13.8% to 24.6% [8] - On-demand delivery solutions revenue decreased by 9.1% year-on-year due to the optimization of business districts [16] Market Performance - International vehicle export solutions successfully exported 815 new energy vehicles overseas, showcasing strong international competitiveness [7] - Housekeeping service coverage expanded to 132 cities, a 21.4% increase year-on-year [8] - The company is exploring a combined short-term and long-term rental model for idle properties in collaboration with a leading long-term rental platform in China [11] Strategic Direction and Industry Competition - The company is focusing on long-term trends, such as the recovery of consumption and tourism, and the promotion of homestay services at the national level [10] - Quhuo is leveraging its experience in new energy vehicle exports, with over five years of experience in life-saving operations and more than two decades in vehicle exports [13] - The company is forming strong partnerships with overseas partners through technology and management empowerment, particularly in on-demand delivery and ride-hailing systems [14] Management Commentary on Operating Environment and Future Outlook - The global economic environment remains complex and volatile, with challenges in both domestic and international markets [5] - The company is committed to long-term strategic planning, optimizing operational models, and seizing new market opportunities [15] - Quhuo International is expected to enter the next stage of development in H2 2024, focusing on redefining partner roles and unifying long-term profit-sharing mechanisms [21][22] Other Important Information - The company has cash, short-term investments, and restricted cash of RMB 104.9 million, with short-term debt of RMB 104.2 million as of June 30, 2024 [20] - Quhuo's platform has accumulated over 770,000 registered workers, providing stable and flexible job opportunities in various sectors [9] Q&A Session Question: What are the company's plans for Quhuo International in the second half of 2024, and how do you see its growth prospects? - Quhuo International will focus on defining and innovating its overseas business model, redefining partner roles, and unifying long-term profit-sharing mechanisms to drive faster growth in both revenue and profit [21][22] - The company expects this phase to bring scale growth and solidify its position in the international market [23]

Exhibit 99.1 QUHUO LIMITED UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands of Renminbi ("RMB") and U.S. dollars ("US$"), except for number of shares and per share data) | --- | --- | --- | --- | --- | |----------------------------------------------|-------|-------------------------------------------|--------------------------|-------------------------| | | Notes | As of December 31, \n2023 \nRMB | As of \n2024 \nRMB | June 30, \n2024 \nUS$ | | ASSETS: | | | | | | Current assets ...

Revenues from mobility service solutions were RMB100.5 million (US$13.8 million), representing an increase of 71.7% year-over-year.Quhuo International shipped 815 vehicles under its vehicle export solutions.The Company has expanded services to 132 cities nationwide, representing a 21.4% year-over-year increase.BEIJING, Aug. 28, 2024 /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 u ...

BEIJING, Aug. 28, 2024 /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 ended June 30, 2024.Financial and Operational Highlights for the First Half of 2024 Revenues from mobility service solutions were RMB 100.5 million (US$13.8 million), representing an increase of 71.7% year-over-year.General and administrative expenses were RMB70.9 m ...

BEIJING, Aug. 26, 2024 /PRNewswire/ -- Quhuo Limited (NASDAQ: QH) ("Quhuo," the "Company," "we" or "our"), a leading gig economy platform focusing on life services in China, today announced that it will report unaudited financial results for the first half of 2024 before the open of the U.S. markets on Wednesday, August 28, 2024.The Company's management will hold a conference call on Wednesday, August 28, 2024, at 8:00 a.m. U.S. Eastern Time (8:00 p.m. Beijing/Hong Kong time on the same day) to discuss the ...

Quhuo (NASDAQ:QH) stock is sliding lower on Thursday after the gig economy platform company’s shares underwent a recent rally.That rally saw shares of QH stock close out Wednesday up 24.7%. That came alongside more than 2 million shares traded. To put that number in perspective, the company’s daily average trading volume is below that at 183,000 shares. Its float is 44.47 million units.Investors will note that QH stock rallied on Wednesday without any news from the company. That includes a lack of press rel ...

Company Performance - Quhuo Limited's homestay sector, operated by Chengtu Home, achieved an average occupancy rate of 79% during the 2024 Labor Day holiday, with sales increasing by 45% year-over-year On the busiest day, the occupancy rate peaked at 88%, and sales surged by 31% from the previous year [1] Industry Trends - Domestic travel in China during the 2024 Labor Day holiday reached 295 million trips, up 7 6% year-on-year The homestay sector saw significant growth, with 76,000 new establishments in the first 10 months of 2023, representing a 149% increase over the prior year [2] Operational Excellence - Chengtu Home employs a "professional, digital, and detailed" operational approach, including the use of smart locks and self-service check-in systems to enhance security and convenience The company maintains high cleanliness standards, with thorough cleaning and fresh linens provided for each guest, and bedding that meets luxury hotel standards [3] - Chengtu has a dedicated housekeeping team that undergoes specialized training and adheres to strict cleaning procedures, including video documentation of room conditions and regular inspections to ensure cleanliness [4] Customer Experience - Chengtu customizes room settings based on guest preferences, offering personalized touches such as themed decorations, chalkboard greetings, and hand-drawn portraits based on social media profiles These details contribute to a warm and individualized hospitality experience [5] Market Expansion - Chengtu operates in 130 cities across China, offering diverse lodging options from apartments to villas The company also promotes rural development through collaborative homestay projects in tourist cities, partnering with nearly 120 local residences [6] Strategic Vision - Chengtu's General Manager highlighted the company's commitment to providing diverse lodging choices and professional, detailed service to elevate the customer experience The company aims to continue delivering safe, warm, and comfortable accommodations [6] - Quhuo's CEO emphasized the company's focus on local life services and the homestay market's rapid expansion Chengtu plans to refine its services and explore new methods to solidify its market presence and promote sustainable growth in the homestay sector [6]

BEIJING, May 17, 2024 /PRNewswire/ -- Quhuo Limited ("Quhuo" or the "Company") (NASDAQ: QH), a leading gig economy platform focusing on local life services in China, today announced that Ms. Chenxi Zhao has resigned from her position as a member of the board of directors (the "Board"), effective on May 16, 2024. The resignation of Ms. Zhao did not result from any disagreement with the Company on any matter relating to the Company's business operations, financial reporting or controls, policies or practices. ...

BEIJING, May 15, 2024 /PRNewswire/ -- Quhuo Limited ("Quhuo" or the "Company") (NASDAQ: QH), a leading gig economy platform focusing on local life services in China, today announced that it received notification letters dated May 10, 2024 (the "Notification Letters") from the Listing Qualifications Department of The Nasdaq Stock Market Inc. (the "Nasdaq"), indicating that (1) the Company is not in compliance with the minimum bid price requirement set forth in Rule 5450(a)(1) of the Nasdaq Listing Rules as t ...