Quhuo Reports Strong Financial Results for the First Half of 2024

BEIJING, Aug. 28, 2024 /PRNewswire/ — Quhuo Limited (NASDAQ: QH), a leading gig economy platform focusing on local hourly services in China, announced its unaudited financial results for the six months ending June 30, 2024.

Financial and Operational Highlights for the First Half of 2024

– Revenues from mobility service solutions reached RMB 100.5 million (US$13.8 million), a 71.7% year-over-year increase.
– General and administrative expenses were RMB 70.9 million (US$9.8 million), down by 13.2% year-over-year.
– Quhuo Global secured service contracts for over 3,000 units of vehicles under its car export solutions, with 815 units shipped in the first half of 2024.
– The company expanded its services to 132 cities nationwide, up from 119 cities in the first half of 2023.

Mr. Leslie Yu, Chairman and CEO of Quhuo, stated, “We are pleased to report that in the first half of 2024, our business expansion remained strong, driven by a 71.7% increase in revenue from our mobility solution. Despite seasonal factors impacting the first quarter, the second quarter saw a robust rebound, with profitability surpassing last year’s levels. We also achieved significant operational efficiency improvements, as evidenced by a reduction in general and administrative expenses.

In line with global market trends and domestic policy shifts, our car export solutions have experienced rapid growth, becoming a key driver of our overall expansion. Additionally, our housework services and other offerings have shown consistent growth, expanding market reach and solidifying our market presence. These developments are propelling us forward as we continue to innovate and grow.

Looking ahead, we aim to further leverage our housework services in China, with upcoming partnerships with long-term rental platforms. We also see significant growth potential in our car export business, with expectations for increased revenue and shipments. With a strategic focus on international expansion, we are advancing our overseas technology initiatives, with on-demand delivery and ride-hailing services currently being piloted in select global cities. Through these initiatives, we aim to create greater commercial and social value.”

Unaudited Financial Results for the First Half of 2024 Compared to the First Half of 2023

Total revenues decreased by 6.7% from RMB 1,736.3 million in the six months ended June 30, 2023, to RMB 1,619.9 million (US$222.9 million) in the six months ended June 30, 2024, due to various reasons.

– Revenues from on-demand delivery solutions were RMB 1,499.1 million (US$206.3 million), a slight decrease of 9.1% from RMB 1,649.6 million in the six months ended June 30, 2023, primarily due to business optimization efforts.
– Revenues from mobility service solutions, including shared-bike maintenance, ride-hailing, and car export solutions, reached RMB 100.5 million (US$13.8 million), a significant increase of 71.7% from RMB 58.5 million in the six months ended June 30, 2023, driven by the growth of car export solutions.
– Revenues from housework and accommodation solutions and other services were RMB 20.4 million (US$2.8 million), a decrease of 27.8% from RMB 28.2 million in the six months ended June 30, 2023, primarily due to changes in the hotel service business model.

Cost of revenues was RMB 1,595.2 million (US$219.5 million), a decrease of 4.5% year-over-year, mainly due to lower labor costs and service fees paid to team leaders, in line with the decrease in revenue from on-demand delivery solutions.

General and administrative expenses were RMB 70.9 million (US$9.8 million), a decrease of 13.2% from RMB 81.6 million in the six months ended June 30, 2023, primarily due to reductions in professional service fees, welfare and business development expenses, and share-based compensation expenses.

Overall, Quhuo’s strong financial performance and strategic initiatives position the company for continued growth and success in the evolving gig economy landscape. Quhuo Reports Financial Results for the First Half of 2024

Quhuo, a leading provider of on-demand delivery solutions, recently announced its financial results for the first half of 2024. The company reported a net loss of RMB46.5 million (US$6.4 million) for the six months ended June 30, 2024. This was a significant increase from the net loss of RMB5.7 million in the same period in 2023.

The increase in net loss was primarily attributed to a decrease in revenue and an increase in operating expenses. The company’s revenue for the first half of 2024 was lower than expected, leading to a decline in profitability. Additionally, operating expenses increased due to restructuring efforts within the research and development team.

Despite the increase in net loss, Quhuo remains optimistic about its future prospects. The company’s management highlighted the importance of cost control and technological optimization in improving financial performance. By focusing on efficiency and operational excellence, Quhuo aims to return to profitability in the coming quarters.

In a statement, Quhuo’s CEO emphasized the company’s commitment to delivering value to its customers and shareholders. He outlined plans to enhance the company’s product offerings and expand its market presence in the on-demand delivery sector. With a focus on innovation and customer satisfaction, Quhuo is confident in its ability to overcome current challenges and achieve long-term success.

As part of its financial reporting, Quhuo also highlighted the use of non-GAAP financial measures to evaluate its performance. Adjusted net loss and adjusted EBITDA were used to provide a clearer picture of the company’s operating results, excluding certain one-time expenses and non-cash items. Quhuo believes that these non-GAAP measures offer a more accurate representation of its financial health and performance.

Investors and analysts are encouraged to participate in Quhuo’s upcoming conference call on August 28, 2024, to discuss the financial results in more detail. Dial-in details for the call are provided, and a replay will be available for those unable to attend live.

Overall, Quhuo’s financial results for the first half of 2024 reflect both challenges and opportunities for the company. With a strategic focus on efficiency and innovation, Quhuo is well-positioned to navigate the competitive landscape and drive sustainable growth in the on-demand delivery market. Quhuo Urges Investors to Analyze Corporate Financial Data Beyond Single Measures

In the fast-paced world of finance, it can be tempting for traders and other stakeholders to rely on a single financial measure when evaluating a company’s performance. However, Quhuo, a leading provider of workforce management solutions, is encouraging investors to take a more comprehensive approach when studying its financial data.

Quhuo understands the limitations of relying solely on one financial measure and is advocating for a more holistic analysis of its monetary information. The company is urging investors to examine its entire financial data set, rather than focusing on a single metric. By looking at the company’s financial data in its entirety, investors can gain a more complete understanding of its performance and make more informed investment decisions.

One way Quhuo is helping investors overcome the limitations of single financial measures is by providing reconciliations of non-GAAP financial measures to the most relevant GAAP measures. This allows investors to compare historical non-GAAP measures with the corresponding GAAP measures, giving them a more accurate picture of the company’s financial performance.

By encouraging investors to look beyond single financial measures and consider the company’s financial data as a whole, Quhuo is helping stakeholders make more informed decisions and better assess the company’s overall financial health. Investors are advised to consider all relevant U.S. GAAP performance measures when evaluating Quhuo’s performance, in order to get a complete and accurate view of the company’s financial standing.

In a world where financial data can be complex and overwhelming, Quhuo is leading the way in promoting transparency and accountability in financial reporting. By encouraging investors to analyze its financial data in its entirety and not rely on a single financial measure, Quhuo is setting a new standard for corporate financial reporting and investor relations. The Benefits of Yoga for Mental Health

Yoga has long been praised for its physical benefits, but its positive effects on mental health are often overlooked. The practice of yoga involves a combination of physical postures, breathing exercises, and meditation, all of which can have a profound impact on mental well-being.

One of the key benefits of yoga for mental health is stress reduction. The deep breathing techniques used in yoga help to calm the nervous system and reduce the production of stress hormones in the body. This can lead to a decrease in anxiety and an overall sense of relaxation and well-being.

Yoga has also been shown to improve mood and alleviate symptoms of depression. The combination of physical movement and mindfulness in yoga can help to release endorphins, the body’s natural feel-good chemicals, which can boost mood and reduce feelings of sadness and hopelessness.

In addition, yoga can help to increase self-awareness and mindfulness, which are important components of mental health. By focusing on the present moment and becoming more in tune with the body and mind, individuals can develop a greater sense of self-awareness and emotional regulation.

Furthermore, the sense of community and support that can be found in a yoga class can also benefit mental health. Connecting with others who share a similar interest in yoga can provide a sense of belonging and reduce feelings of isolation and loneliness.

Overall, the practice of yoga can have a multitude of benefits for mental health. By incorporating yoga into a regular wellness routine, individuals can experience improved stress management, mood enhancement, increased self-awareness, and a sense of community and support. So, next time you’re feeling overwhelmed or down, consider rolling out your yoga mat and giving it a try. Your mental health will thank you. As the world becomes increasingly digital, the importance of cybersecurity is more critical than ever. With the rise of cyber attacks and breaches, businesses and individuals must take proactive measures to protect their sensitive information and data.

Cybersecurity encompasses a range of practices and technologies designed to safeguard networks, devices, and data from unauthorized access, cyber attacks, and breaches. This includes implementing firewalls, encryption, antivirus software, and other security measures to prevent hackers from gaining access to confidential information.

One of the most common cyber threats facing individuals and businesses is phishing attacks. Phishing involves sending fraudulent emails or messages that appear to be from a legitimate source in order to trick recipients into providing sensitive information such as passwords, financial information, or personal details. By educating employees and individuals about the signs of phishing attacks and how to avoid falling victim to them, businesses can significantly reduce their risk of a security breach.

Another important aspect of cybersecurity is regularly updating software and systems to protect against potential vulnerabilities. Hackers are constantly evolving their tactics, so it is essential for businesses to stay one step ahead by implementing the latest security patches and updates.

In addition to proactive measures, businesses should also have a response plan in place in the event of a security breach. This includes identifying the source of the breach, containing the damage, and notifying affected parties in a timely manner. By having a well-defined incident response plan, businesses can minimize the impact of a security breach and prevent further damage to their reputation and bottom line.

Ultimately, cybersecurity is a critical component of every business’s operations in today’s digital age. By taking proactive measures to protect sensitive information and data, businesses can mitigate the risk of cyber attacks and breaches and ensure the safety and security of their digital assets. As the world continues to grapple with the ongoing effects of the COVID-19 pandemic, businesses are increasingly turning to remote work as a solution. This shift has brought about a number of challenges, particularly when it comes to maintaining productivity and collaboration among team members who are no longer working in the same physical location.

One key tool that has emerged as essential for remote teams is project management software. These platforms offer a centralized hub for teams to track progress on tasks, communicate with one another, and stay organized. With the right project management software in place, teams can streamline their workflows, stay on top of deadlines, and ensure that everyone is on the same page.

There are a number of project management software options available, each with its own set of features and capabilities. Some popular choices include Trello, Asana, and Monday.com. These tools allow teams to create and assign tasks, set deadlines, track progress, and communicate with team members in real-time.

In addition to these basic features, many project management software platforms also offer advanced capabilities such as time tracking, file sharing, and integration with other tools such as Slack and Google Drive. These additional features can further enhance productivity and collaboration among remote teams.

Ultimately, project management software is a crucial tool for remote teams looking to stay organized and productive. By providing a centralized hub for communication and task management, these platforms can help teams overcome the challenges of working remotely and ensure that projects are completed on time and on budget. The Benefits of Yoga for Mental Health”

Yoga has been practiced for thousands of years, originating in ancient India as a spiritual discipline. In recent years, it has become increasingly popular in the Western world as a form of exercise and stress relief. While many people practice yoga for its physical benefits, such as increased flexibility and strength, its impact on mental health is just as significant.

One of the key benefits of yoga for mental health is its ability to reduce stress and anxiety. The practice of yoga involves deep breathing, mindfulness, and meditation, all of which have been shown to lower levels of the stress hormone cortisol in the body. By calming the mind and body, yoga can help individuals manage their stress more effectively and improve their overall well-being.

Yoga can also help improve mood and alleviate symptoms of depression. The physical movements and breathing techniques in yoga can increase the production of serotonin, a neurotransmitter that plays a key role in regulating mood. In addition, the mindfulness and self-awareness that come with a regular yoga practice can help individuals identify and address negative thought patterns that may contribute to feelings of depression.

Furthermore, yoga can be a powerful tool for managing symptoms of conditions such as PTSD and OCD. The combination of physical movement, breathing exercises, and meditation in yoga can help individuals process traumatic experiences and manage intrusive thoughts in a healthy way. Many mental health professionals now incorporate yoga into their treatment plans for individuals with these and other mental health conditions.

Overall, the benefits of yoga for mental health are vast and well-supported by research. Whether you are looking to reduce stress, improve your mood, or manage symptoms of a mental health condition, incorporating yoga into your routine can be a valuable addition to your mental health toolkit. So next time you roll out your mat, remember that you are not only benefiting your body, but also your mind. The Importance of Regular Exercise for Overall Health

Regular exercise is crucial for maintaining good health and overall well-being. It not only helps to keep our bodies in shape, but also has numerous other benefits that can improve our quality of life.

One of the most obvious benefits of regular exercise is weight management. By incorporating physical activity into our daily routines, we can burn off excess calories and prevent weight gain. This is important for reducing the risk of obesity and related health conditions such as diabetes, heart disease, and high blood pressure.

Exercise also plays a key role in maintaining muscle strength and flexibility. As we age, our muscles tend to weaken and lose their tone, making everyday tasks more difficult. By engaging in regular physical activity, we can strengthen our muscles and improve our flexibility, which can help us stay mobile and independent as we get older.

In addition to physical benefits, exercise is also important for mental health. Physical activity releases endorphins, which are chemicals in the brain that act as natural mood lifters. Regular exercise has been shown to reduce symptoms of anxiety and depression, improve cognitive function, and boost self-esteem.

Furthermore, exercise can help to prevent chronic diseases such as heart disease, stroke, and certain types of cancer. By maintaining a healthy weight, reducing inflammation, and improving cardiovascular health, regular physical activity can significantly lower the risk of developing these conditions.

Overall, incorporating regular exercise into our daily lives is essential for maintaining good health and overall well-being. Whether it’s going for a walk, hitting the gym, or participating in a group fitness class, finding ways to stay active can have a profound impact on our physical and mental health. So lace up those sneakers and get moving – your body will thank you for it! The Importance of Staying Active During the Pandemic

As the world continues to grapple with the effects of the ongoing pandemic, it is more important than ever to prioritize our physical and mental well-being. One of the key ways to do this is by staying active and incorporating regular exercise into our daily routines.

Staying active has numerous benefits, both physically and mentally. Exercise has been shown to boost our immune system, improve our mood, reduce stress levels, and increase our overall sense of well-being. In a time when many of us are feeling isolated and anxious, engaging in physical activity can provide a much-needed outlet for releasing pent-up emotions and improving our mental health.

Additionally, staying active can help us maintain a healthy weight, lower our risk of chronic diseases such as heart disease and diabetes, and improve our overall quality of life. With many of us spending more time at home and less time engaging in our usual activities, it can be easy to fall into a sedentary lifestyle. However, making an effort to move our bodies regularly can make a significant difference in how we feel both physically and mentally.

There are many ways to stay active during the pandemic, even if you are unable to go to a gym or participate in your usual fitness classes. Simple activities like going for a walk or jog outside, following an online workout video, or doing bodyweight exercises at home can all help you stay active and maintain your fitness level. It’s important to find activities that you enjoy and that fit into your schedule, so that you can make exercise a regular part of your routine.

In conclusion, staying active during the pandemic is crucial for maintaining our physical and mental well-being. By making an effort to move our bodies regularly and engage in physical activity, we can improve our overall health and quality of life during these challenging times. So, whether it’s a quick walk around the block or a full-blown home workout, find ways to stay active and keep moving towards a healthier you. As the world continues to grapple with the effects of climate change, more and more people are turning to alternative forms of energy to power their lives. Solar energy, in particular, has emerged as a popular and eco-friendly option for homeowners and businesses alike.

Solar panels harness the power of the sun to generate electricity, providing a clean and renewable source of energy. By installing solar panels on their properties, individuals can reduce their reliance on fossil fuels and lower their carbon footprint. In addition to being environmentally friendly, solar energy can also lead to significant cost savings in the long run.

One of the main benefits of solar energy is its ability to lower electricity bills. By generating their own electricity through solar panels, homeowners can reduce their reliance on the grid and avoid fluctuating energy prices. In some cases, individuals may even be able to sell excess energy back to the grid, further offsetting their energy costs.

Another advantage of solar energy is its reliability. Unlike traditional forms of energy, such as coal or natural gas, solar power is not subject to price fluctuations or supply disruptions. As long as the sun is shining, solar panels will continue to generate electricity, providing a consistent and reliable source of power.

In addition to its financial and environmental benefits, solar energy can also increase the value of a property. Studies have shown that homes with solar panels tend to sell for more than those without, making solar energy a smart investment for homeowners looking to increase their property value.

As the demand for clean energy continues to grow, the popularity of solar energy is only expected to increase. With its numerous benefits, from cost savings to environmental sustainability, solar energy is proving to be a viable and attractive option for individuals looking to power their lives in a more sustainable way. The rise of remote work has become a defining trend in today’s workforce. With advancements in technology and a greater emphasis on work-life balance, more companies are offering their employees the option to work from home or from any location of their choosing. This shift has brought about a number of benefits for both employers and employees, but it has also raised some challenges that need to be addressed.

One of the key advantages of remote work is the flexibility it provides. Employees are no longer tied to a traditional office setting and can work from anywhere with an internet connection. This has allowed workers to better balance their personal and professional lives, leading to higher job satisfaction and increased productivity. For employers, remote work has also been shown to reduce costs associated with maintaining a physical office space and can help attract top talent from around the world.

However, remote work also comes with its own set of challenges. Communication can be more difficult when employees are not physically present in the office, leading to misunderstandings and a lack of cohesion within teams. Additionally, some employees may struggle with feelings of isolation or a lack of motivation when working from home. It is important for companies to implement strategies to combat these issues, such as regular check-ins with remote employees and fostering a strong company culture that transcends physical boundaries.

Despite these challenges, the trend towards remote work shows no signs of slowing down. As technology continues to advance and more workers seek flexibility in their careers, companies will need to adapt to this new way of working in order to remain competitive. By embracing remote work and addressing its challenges head-on, businesses can create a more inclusive and productive work environment for all employees. The Importance of Self-Care During Stressful Times”

In today’s fast-paced world, stress and anxiety have become a common part of our daily lives. From work pressures to personal challenges, it’s easy to feel overwhelmed and burnt out. In times like these, taking care of yourself becomes more important than ever. Self-care is not just about pampering yourself; it’s about prioritizing your mental, emotional, and physical well-being.

When we are stressed, our bodies release cortisol, the stress hormone, which can have a negative impact on our health if not managed properly. This is where self-care comes in. By engaging in activities that help us relax and unwind, we can reduce our cortisol levels and improve our overall well-being.

Self-care can take many forms, from taking a long bath to practicing mindfulness meditation. It’s important to find what works best for you and incorporate it into your daily routine. Some people find that exercise helps them manage stress, while others may prefer spending time in nature or engaging in a creative hobby.

In addition to reducing stress, self-care can also improve our relationships and productivity. When we take care of ourselves, we are better equipped to handle the challenges that come our way. We are more patient, compassionate, and resilient, making us better partners, parents, and colleagues.

So, the next time you feel stressed or overwhelmed, remember to prioritize self-care. Take a break, do something that brings you joy, and practice self-compassion. Your mental and physical health will thank you for it. The Importance of Regular Exercise for Overall Health”

Regular exercise is an essential component of maintaining good health and well-being. Not only does it help with weight management and physical fitness, but it also has numerous other benefits for both the body and mind.

One of the key benefits of regular exercise is its positive impact on heart health. Cardiovascular exercise, such as running, swimming, or cycling, can help strengthen the heart and improve circulation, reducing the risk of heart disease and stroke. Additionally, exercise can help lower blood pressure and cholesterol levels, further reducing the risk of heart-related issues.

Regular physical activity also plays a crucial role in maintaining a healthy weight. By burning calories and building muscle, exercise can help prevent weight gain and promote weight loss. This is important not only for physical appearance but also for overall health, as excess weight can increase the risk of chronic conditions such as diabetes and certain types of cancer.

In addition to its physical benefits, regular exercise has a significant impact on mental health. Physical activity releases endorphins, which are chemicals in the brain that act as natural mood lifters. This can help reduce feelings of stress, anxiety, and depression, and improve overall mental well-being. Regular exercise has also been linked to improved cognitive function and a reduced risk of cognitive decline as we age.

It’s important to remember that exercise doesn’t have to be intense or time-consuming to be beneficial. Even moderate activities, such as walking, gardening, or yoga, can have a positive impact on health. The key is to find activities that you enjoy and can incorporate into your daily routine.

In conclusion, regular exercise is essential for maintaining good health and well-being. From improving heart health and weight management to boosting mental well-being, the benefits of physical activity are numerous. By making exercise a priority in your life, you can improve your overall health and quality of life. The Importance of Staying Active During the COVID-19 Pandemic

As the world continues to grapple with the effects of the COVID-19 pandemic, one aspect that has become increasingly important is the need to stay active. With many people staying home and practicing social distancing measures, it can be easy to fall into a sedentary lifestyle. However, staying active is crucial for both physical and mental well-being during these challenging times.

Physical activity has numerous benefits for our overall health. It helps to strengthen our immune system, which is especially important during a global health crisis. Exercise also helps to improve cardiovascular health, reduce the risk of chronic diseases such as diabetes and obesity, and boost our mood by releasing endorphins.

Furthermore, staying active can help to alleviate some of the stress and anxiety that many people are feeling right now. Exercise has been shown to reduce symptoms of depression and anxiety, and can provide a much-needed mental break from the constant news cycle and uncertainty surrounding the pandemic.

There are many ways to stay active while at home. From online workout classes and YouTube tutorials to outdoor activities like walking, running, or biking, there are plenty of options to choose from. It’s important to find a form of exercise that you enjoy and that fits your current fitness level and abilities.

Even if you’re not able to engage in your usual fitness routine or visit a gym, there are still plenty of ways to stay active and maintain your physical and mental well-being during these challenging times. Making time for exercise, even if it’s just a short walk around the block or a few minutes of stretching, can make a big difference in how you feel.

In conclusion, staying active during the COVID-19 pandemic is crucial for maintaining both physical and mental well-being. It’s important to find ways to incorporate exercise into your daily routine, even if it’s just for a few minutes each day. By prioritizing your health and making time for physical activity, you can help to reduce stress, improve your mood, and stay healthy during these challenging times. The Benefits of Yoga for Mental Health

Yoga has long been known for its physical benefits, such as increased flexibility, strength, and balance. But did you know that yoga also has numerous mental health benefits? In today’s fast-paced world, many people are turning to yoga as a way to combat stress, anxiety, and depression.

One of the key benefits of yoga for mental health is its ability to reduce stress. Through a combination of deep breathing exercises, physical postures, and meditation, yoga helps to calm the nervous system and promote relaxation. This can be especially beneficial for those who struggle with chronic stress or anxiety.

Yoga also helps to improve mood and reduce symptoms of depression. The practice of yoga has been shown to increase levels of serotonin, a neurotransmitter that plays a key role in regulating mood. Additionally, the physical activity of yoga can help to release endorphins, which are known as the body’s “feel-good” chemicals.

Furthermore, yoga can help to improve focus and concentration. The mindfulness practices incorporated into yoga help to cultivate present-moment awareness, which can be beneficial for those who struggle with racing thoughts or distractions.

In addition to these mental health benefits, yoga also offers a sense of community and support. Practicing yoga in a group setting can help to foster connections with others and provide a sense of belonging.

Overall, the benefits of yoga for mental health are vast and well-documented. Whether you are looking to reduce stress, improve your mood, or enhance your focus, incorporating yoga into your routine can have a positive impact on your mental well-being. So next time you’re feeling overwhelmed or anxious, consider rolling out your mat and giving yoga a try. The Importance of Time Management in Achieving Success

Time management is a crucial skill that plays a significant role in achieving success in both personal and professional life. It involves the ability to prioritize tasks, allocate time effectively, and focus on what is important. Without proper time management, individuals may find themselves overwhelmed with tasks, leading to stress, missed deadlines, and ultimately, failure to achieve their goals.

One of the key benefits of time management is increased productivity. By organizing tasks and setting realistic deadlines, individuals can work more efficiently and accomplish more in less time. This not only allows them to complete their work on time but also gives them the opportunity to take on new challenges and pursue personal growth.

Time management also helps individuals maintain a healthy work-life balance. By allocating time for work, family, friends, and personal interests, individuals can prevent burnout and maintain their overall well-being. This balance is essential for long-term success and happiness, as it allows individuals to recharge and stay motivated to achieve their goals.

Furthermore, effective time management can improve decision-making skills. By prioritizing tasks and focusing on what is important, individuals can make better choices about how to allocate their time and resources. This leads to better outcomes and increases the likelihood of achieving desired results.

In conclusion, time management is a crucial skill that can greatly impact an individual’s success in all aspects of life. By prioritizing tasks, allocating time effectively, and maintaining a healthy work-life balance, individuals can increase their productivity, improve decision-making skills, and ultimately achieve their goals. It is never too late to start practicing good time management habits, and the benefits are sure to be worth the effort.