Quhuo Ltd. (China)

The Company is a gig economy platform focusing on local life services in China.
The Company operates a platform of large, flexible, and standardized workforce. The Company provides tech-enabled, end-to-end operational solutions primarily to consumer service businesses, including on-demand delivery solutions, mobility service solutions, housekeeping and accommodation solutions, and other services. Leveraging The Company s internal technology infrastructure, The Company is able to deploy workers across different regions and industries to serve its customers in a flexible, standardized, and specialized manner, such as fulfilling delivery orders of prepared food, grocery, and fresh food, carrying out maintenance works for shared bikes, fulfilling intra-city and long-distance transportation orders, and providing housekeeping and accommodation services for hotels and B Bs. The Company generates revenue primarily from service fees paid by its industry customers, and to a lesser extent, from rental fees under The Company s car leasing agreements with drivers engaged in The Company s ride-hailing solutions.
The Company has only one reportable segment.
HISTORY
2019 - The Company is an exempted company with limited liability incorporated in the Cayman Islands in June and a holding company of its group. The Company commenced operations through Beijing Quhuo Technology Co., Ltd., or Beijing Quhuo, in 2012.
2019 - In June, its founders, through their respective controlled entities, incorporated Quhuo Limited in the Cayman Islands as its listing entity and holding company with no material operations of its own.
From June 2019 to July 2019, the Company incorporated various subsidiaries, including Quhuo Investment Limited, Quhuo Technology Investment (Hong Kong) Limited and Beijing Quhuo Information Technology Co., Ltd., or WFOE, all of which are investment holding companies. In August 2019, it gained control and became the sole beneficiary of Beijing Quhuo, or the VIE, through a series of contractual arrangements between WFOE, the VIE and the VIE's registered shareholders.
2020 - In November the Company acquired a 54.22 equity interest in Lailai Information Technology (Shenzhen) Co., Ltd.,
2022 - In January, the Company acquired the remaining 45.78 equity interest in Lailai for a consideration in the form of our company's securities. It has issued the consideration securities for the acquisition.
2022 - The ADSs are listed on the Nasdaq Global Market under the symbol “QH.”. Effective on August 12, the Company changed the ratio of the ADSs to Class A ordinary shares from the then ADS ratio of one ADS to one Class A ordinary share to a new ADS ratio of one ADS representing ten Class A ordinary shares.