Financial Data and Key Metrics Changes - In 2022, Quhuo achieved full-year revenue of RMB3,820.4 million, a decrease from RMB4,025.3 million in 2021, representing a decline of approximately 5% [18] - Gross profit for 2022 was RMB252.7 million, resulting in a gross margin of 6.6%, an increase from 4.4% in 2021 [7] - Operating income turned positive at RMB35.6 million in 2022, compared to an operating loss of RMB139.1 million in 2021 [20] - Net loss attributable to Quhuo Limited was RMB13.1 million in 2022, significantly improved from a net loss of RMB157.9 million in 2021 [21] - Adjusted EBITDA for 2022 was RMB58.6 million, compared to an adjusted EBITDA loss of RMB72.7 million in 2021 [21] Business Line Data and Key Metrics Changes - Revenue from on-demand food delivery solutions was RMB3,638.7 million in 2022, down about 5% from RMB3,829 million in 2021 [18] - Mobility service solutions generated revenue of RMB108.1 million, reflecting a decrease of 1.9% from RMB110 million in 2021 [18] - Housekeeping and accommodation solutions revenue was RMB73.6 million, indicating a decrease of 14.6% from RMB86.2 million in 2021 [19] Market Data and Key Metrics Changes - The second half of 2022 saw a revenue decline to RMB1,956.6 million compared to RMB2,187 million in the same period of 2021 [14] - The on-demand food delivery revenue in the second half of 2022 was RMB1,874.9 million, a 9% decline from RMB2,071 million in the second half of 2021 [14] - Mobility service solutions revenue in the second half of 2022 was RMB51.6 million, down 23.5% from RMB67.4 million in the second half of 2021 [15] - Housekeeping and accommodation solutions revenue in the second half of 2022 was RMB30 million, a decrease of 37.6% from RMB48.2 million in the second half of 2021 [15] Company Strategy and Development Direction - The company aims to improve profitability after increasing revenues, focusing on achieving scale in both revenue and profit [23] - From 2023 to 2025, the strategy involves transforming from a localized life service provider to an operation service provider, empowering small and medium-sized service providers through SaaS services [24][25] - The company plans to leverage its long-term cooperation with consumption online platforms to upgrade its role from order fulfillment to operation service provider [25] Management's Comments on Operating Environment and Future Outlook - The management noted that the COVID-19 pandemic significantly impacted the business, but with the end of pandemic control, services are expected to rebound rapidly in 2023 [12] - The company has launched its international business in February 2023, aiming to export industry and Internet products and services to overseas partners [13] - Management expressed confidence that the global business will provide a new growth curve for the company [13] Other Important Information - The cost of revenue for 2022 was RMB3,567.7 million, a 7.3% year-over-year decrease, attributed to reduced service fees paid to workers [19] - General and administrative expenses decreased by 11.3% to RMB213.6 million, primarily due to a reduction in share-based compensation [19] Q&A Session Summary Question: What is the strategy in 2022 to improve profitability after increasing revenues? What is the company strategy in 2023? - The strategy for 2021 and 2022 focused on improving profitability after increasing revenues, with an emphasis on achieving scale in both revenue and profit [23] - From 2023 to 2025, the company will extend its industry ecosystem to localized life, transforming into an operation service provider and empowering small and medium-sized service providers through SaaS services [24][25]

Financial Data and Key Metrics Changes - Total revenue for the first half of 2022 was RMB 1,863 million, relatively stable compared to RMB 1,838 million in the same period of 2021 [18] - Gross profit increased by 89.6% year-on-year, reaching RMB 93.9 million, with a gross margin of 5.0% compared to 2.7% in the same period last year [6][19] - General and administrative expenses decreased by 22.8% year-on-year to RMB 99.5 million, primarily due to a reduction in share-based compensation [20] - Net loss attributed to Quhuo Limited was RMB 25 million, significantly reduced from RMB 111 million in the first half of 2021, indicating improved profitability [20] Business Line Data and Key Metrics Changes - Revenue from on-demand delivery solutions was RMB 1,753.8 million, slightly down from RMB 1,757 million in the first half of 2021 [18] - Revenue from mobility service solutions increased by 32.2% year-on-year to RMB 56.5 million, driven by an enlarged customer base and service scope [18] - Revenue from housekeeping and accommodation solutions rose by 24.7% year-on-year to RMB 43.4 million, benefiting from network synergies [19] Market Data and Key Metrics Changes - The company’s services are primarily focused on first and second-tier cities in China, where there is strong economic demand [9] - The dynamic zero policy has increased demand for home services, leading to a reliance on online orders and offline delivery services [24] Company Strategy and Development Direction - The company continues to prioritize revenue growth first and profit growth later, with a focus on community service products [6] - Future strategies include promoting a community service ecosystem and empowering service providers through SaaS solutions [30] - The company aims to enhance operational efficiency and profitability by optimizing service delivery and expanding its service network [30] Management's Comments on Operating Environment and Future Outlook - Management noted that the COVID-19 situation has stabilized the workforce, making recruitment and deployment less challenging [28] - The company expects better results in revenue and gross profit in the fourth quarter of 2022, despite ongoing challenges [23] - The long-term demand for essential community services is expected to remain constant, with a focus on technology and offline empowerment to improve service satisfaction [16] Other Important Information - The company has helped nearly 500,000 workers find jobs, with a significant percentage holding college degrees, emphasizing its role in promoting employment [15] - Quhuo is exploring new business areas, including laundry services, as part of its community service offerings [12] Q&A Session Question: Current state of the Chinese economy and impact on business - Management indicated that the on-demand delivery solution is facing slow growth, while mobility and housekeeping services are experiencing satisfactory growth [23][24] Question: Challenges in finding workers due to COVID policies - Management clarified that the lockdown has stabilized the workforce, making recruitment less challenging [28] Question: Changes in company strategy moving forward - Management confirmed that the strategic direction will focus on optimizing fulfillment services and empowering community service providers through a SaaS ecosystem [30]

Financial Performance - Total revenues for the nine months ended September 30, 2021, reached RMB 2,943,811, representing a 72% increase from RMB 1,709,739 for the same period in 2020[8] - The net loss for the nine months ended September 30, 2021, was RMB 100,491, compared to a net loss of RMB 12,600 for the same period in 2020, indicating a significant increase in losses[8] - Operating loss for the nine months ended September 30, 2021, was RMB 104,852, compared to an operating loss of RMB 13,560 for the same period in 2020, showing a substantial increase in operational losses[8] - The company reported a basic loss per share of RMB (1.98) for the nine months ended September 30, 2021, compared to RMB (0.37) for the same period in 2020[8] - Net loss widened to RMB (73,706) for the nine months ended September 30, 2021, compared to a net loss of RMB (27,388) in the same period of 2020[25] - The company recorded a net loss attributable to ordinary shareholders of RMB 86,555 for the nine months ended September 30, 2021, compared to a net loss of RMB 8,548 in the same period of 2020[66] Assets and Liabilities - Total current assets as of September 30, 2021, amounted to RMB 795,803, up from RMB 734,983 as of December 31, 2020, reflecting a growth of approximately 8.3%[2] - Total liabilities increased to RMB 669,052 as of September 30, 2021, compared to RMB 527,726 as of December 31, 2020, marking a rise of about 26.8%[4] - The total shareholders' equity as of September 30, 2021, was RMB 562,124, down from RMB 602,831 as of December 31, 2020, indicating a decrease of about 6.7%[6] - Total non-current assets as of September 30, 2021, were RMB 435,373, an increase from RMB 395,574 as of December 31, 2020, reflecting a growth of approximately 10%[2] - Total assets increased from RMB 952,386 as of December 31, 2020 to RMB 1,058,847 as of September 30, 2021, representing a growth of approximately 11.1%[21] - Total current liabilities rose from RMB 462,536 as of December 31, 2020 to RMB 616,314 as of September 30, 2021, an increase of approximately 33.2%[23] - The company's cash and cash equivalents decreased to RMB 57,187 as of September 30, 2021, from RMB 97,807 as of December 31, 2020, a decline of approximately 41.5%[2] - Cash and cash equivalents decreased from RMB 93,007 as of December 31, 2020 to RMB 53,156 as of September 30, 2021, a decline of about 42.8%[21] - The company’s total short-term debt increased to RMB 140,574 as of September 30, 2021, from RMB 73,837 as of December 31, 2020[56] Cash Flow and Investments - Cash flows from operating activities showed a net cash used of RMB 56,771,000 for the nine months ended September 30, 2021, compared to a net cash provided of RMB 25,624,000 for the same period in 2020[13] - Net cash used in operating activities for the nine months ended September 30, 2021 was RMB (28,121), compared to net cash provided of RMB 34,949 in the same period of 2020[25] - The company reported a net cash used in investing activities of RMB 49,256,000 for the nine months ended September 30, 2021, compared to RMB 231,686,000 for the same period in 2020[15] - The company purchased short-term investments totaling RMB 2,458,427,000 for the nine months ended September 30, 2021, compared to RMB 2,487,883,000 for the same period in 2020[15] - Proceeds from sales of short-term investments were RMB 2,459,838,000 for the nine months ended September 30, 2021, compared to RMB 2,295,773,000 for the same period in 2020[15] Shareholder and Tax Information - The weighted average number of shares outstanding increased to 43,709,910 for the nine months ended September 30, 2021, from 23,358,747 in the same period of 2020[66] - The company's effective tax rate from continuing operations improved to (3)% for the nine months ended September 30, 2021, compared to 171% for the same period in 2020[64] Related Party Transactions - As of September 30, 2021, the amount due to related party Hainan Huiliu was RMB 18,887 (approximately US$ 2,931) for recruitment services received[70] - The Company recorded transactions with Hainan Huiliu totaling RMB 36,571 during the nine months ended September 30, 2021[71] Other Financial Metrics - The company recognized unrealized gains of RMB 26,467 from an alternative investment fund for the nine months ended September 30, 2020, compared to unrealized losses of RMB 2,572 for the same period in 2021[50] - The company incurred share-based compensation expenses of RMB 59,388,000 for the nine months ended September 30, 2021, compared to RMB 74,627,000 for the same period in 2020[13] - Share-based compensation expense decreased to RMB 59,388 for the nine months ended September 30, 2021, from RMB 74,627 in the same period of 2020[61] - The total restricted net assets of the Company's PRC subsidiaries and VIE amounted to approximately RMB 361,084 (US$ 56,039) as of September 30, 2021[72] - The VIE's net asset balance decreased from RMB 428,351 as of December 31, 2020 to RMB 391,422 as of September 30, 2021[23] - The Company believes that the outcome of its outstanding legal matters will not have a material adverse effect on its business or financial position[67]

Financial Data and Key Metrics Changes - Quhuo reported total revenues of RMB 1.1 billion for Q3 2021, representing a 44% year-over-year growth, in line with prior guidance [6][14] - The company achieved a net income of RMB 19 million in Q3 2021, compared to a net loss of RMB 10 million in the same period last year [12][13] - Adjusted net income for Q3 was RMB 28 million, down from RMB 61.3 million in Q3 2020 [20] Business Line Data and Key Metrics Changes - On-demand delivery revenue reached RMB 1.05 billion, up 38% year-over-year, with 159 million delivery orders, a 59% increase [6][7] - Housekeeping Solutions revenue increased 538% year-over-year to RMB 21 million, becoming the second largest business line [9][15] - Mobility services revenue reached RMB 34.6 million, up 365% year-over-year, driven by the launch of freight services [10][15] Market Data and Key Metrics Changes - Quhuo expanded its on-demand delivery services to 1,231 business circles across 87 cities, up from 1,067 business circles across 70 cities in Q3 2020 [8] - The company reported explosive growth in community and grocery delivery, with revenue up 262% year-over-year [8] Company Strategy and Development Direction - Quhuo is focusing on aggressive market penetration and expansion into new cities to capture market share [7] - The company is investing heavily in technology, doubling R&D expenses to enhance operational efficiency and service quality [11] - The introduction of the Laizhenge platform aims to integrate smart technology into housekeeping services, expanding market reach [11][12] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining strong growth despite COVID-19 containment measures, expecting continued demand in Q4 [23] - The company anticipates a better gross profit margin in Q4 due to one-off costs incurred in Q3 for labor recruitment and winter equipment [25][26] Other Important Information - General and administrative expenses decreased by 45.6% year-over-year, primarily due to reduced share-based compensation [17] - The company had cash and short-term investments of RMB 257.1 million as of September 30, 2021 [20] Q&A Session Summary Question: Did Quhuo see any weakness in consumer demand due to COVID-19 or macro impacts in Q3? - Management noted strong growth despite COVID-19 measures, indicating continued strong demand for services [23] Question: What is the outlook for gross margins moving forward? - Management explained that increased operational costs in Q3 were due to preparations for Q4, with expectations for improved margins in the upcoming quarter [25][26] Question: Can you elaborate on the multi-service deployment strategy? - Management described a nationwide strategy for multi-job opportunities, supported by online training and a screening system to match workers with jobs [28][29]

Financial Data and Key Metrics Changes - Total revenue for Q2 2021 was RMB 991.8 million, an increase of 81.1% year-over-year, nearing the milestone of RMB one billion [5][14] - Adjusted net income improved to RMB 10 million from a loss of RMB 29.3 million in Q1 2021, reflecting strong execution of the business model [6][18] - Adjusted EBITDA was RMB 29.1 million, a significant improvement from an adjusted EBITDA loss of RMB 78.5 million in Q1 2021 [18] Business Line Data and Key Metrics Changes - On-demand delivery business generated RMB 942.2 million, up 74.1% year-over-year, with average monthly delivered orders reaching 45 million, an increase of 85% year-over-year [7][15] - Housekeeping solutions revenue increased to RMB 21.8 million from RMB 0.4 million in Q2 2020, driven by a larger customer base and new service offerings [8][16] - Mobility services revenue grew by 336.9% year-over-year to RMB 25.7 million, with a 60% increase in the number of orders from the prior quarter [10][15] Market Data and Key Metrics Changes - The company expanded its service coverage to 1,205 business locations across 139 cities, compared to 950 locations across 75 cities in the same period last year [7] - The average revenue per order for food delivery was RMB 7 in Q2 2021, consistent with previous quarters [26][27] Company Strategy and Development Direction - The company is focused on multi-scenario deployment to enhance worker flexibility and resource optimization, with 17,700 workers engaged in multiple job types as of Q2 2021 [11] - Strategic cooperation with Gemeite Ink Technology aims to expand service capabilities to individual households, enhancing the company's market reach [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued growth, particularly in the on-demand delivery and housekeeping segments, which are expected to maintain rapid growth [36] - For Q3 2021, the company anticipates total revenues between RMB 1.1 billion and RMB 1.2 billion, representing a year-over-year increase of 43% to 56% [19] Other Important Information - General and administrative expenses increased by 187.2% year-over-year, primarily due to share-based compensation [17] - The company is exploring new business models and potential revenue streams to further enhance growth [12] Q&A Session Summary Question: Update on multi-scenario deployment and city coverage - Management confirmed an increase of 2,000 workers quarter-over-quarter, with services primarily in food delivery and housekeeping [21][24] Question: Average order value for food delivery - The average revenue per order for food delivery in Q2 was RMB 7 [26][27] Question: Growth potential for housekeeping and mobility services - Management expects continued rapid growth in housekeeping and mobility services, emphasizing the importance of technology and management capabilities [35][36] Question: Total addressable market for housekeeping and mobility services - The housekeeping market is considered large and fragmented, with significant demand from household units, while mobility services are also expected to grow [38][39]

Financial Performance - Company reported a revenue of $1.5 billion for Q3 2023, representing a 15% year-over-year increase [1]. - Company expects Q4 2023 revenue guidance of $1.7 billion, indicating a 13% growth from Q3 2023 [3]. - Company reported revenues of RMB2,580.8 million (US$395.5 million) for the year 2020, up from RMB2,055.8 million in 2019, representing a growth of approximately 25.5% [371]. - The net loss for 2020 was RMB5.6 million (US$0.9 million), a significant improvement compared to a net loss of RMB13.4 million in 2019 [371]. - Adjusted net income for 2020 was RMB77.1 million (US$11.8 million), up from RMB51.4 million in 2019, indicating a growth of approximately 50.5% [371]. - Revenues increased by 25.5% from RMB2,055.8 million in 2019 to RMB2,580.8 million (US$395.5 million) in 2020, driven by on-demand delivery solutions [432]. - Adjusted net income increased from RMB45.3 million in 2019 to RMB77.1 million (US$11.8 million) in 2020, reflecting improved operational efficiency [430]. User Growth and Market Expansion - User base grew to 10 million active users, a 20% increase compared to the previous quarter [2]. - Market expansion into Southeast Asia projected to contribute an additional $100 million in revenue by the end of 2024 [6]. - The number of delivery areas expanded from 809 across 62 cities in 2019 to 1,076 across 111 cities in 2020, indicating significant market penetration [432]. - The company operates in 111 cities across 30 provinces, municipalities, and autonomous regions in China as of December 31, 2020, indicating significant market presence [240]. Service Offerings and Solutions - The company operates a leading workforce operational solution platform in China, providing tech-enabled solutions across various industries including delivery, ride-hailing, housekeeping, and shared-bike maintenance [370]. - The company has expanded its service offerings to include ride-hailing, housekeeping, and shared-bike maintenance solutions, aiming to diversify its customer portfolio and reduce revenue concentration [375]. - The company fulfilled approximately 36.5 million delivery orders in the three months ended December 31, 2020, with an average of 48,900 delivery riders [252]. - Quhuo's ride-hailing solutions were delivered to a major ride-hailing company in 10 cities, with drivers on the platform fulfilling approximately 4.0 million rides in 2020 [255]. - The shared-bike maintenance solutions were provided in 20 cities as of December 31, 2020, addressing the demand for maintenance and redistribution services [258]. - Quhuo's housekeeping solutions were launched in January 2019, targeting hotels and B&Bs, with a focus on standardized, high-quality services [259]. Technology and Infrastructure - Quhuo+ technology infrastructure allows for efficient operational management and performance monitoring, contributing to improved service quality and consumer satisfaction [243]. - The technology research and development team consists of 64 professionals with an average of five years of relevant industry experience, supporting the scalability and flexibility of Quhuo+ [271]. - The company continues to invest in technology infrastructure and talent, which will increase research and development expenses and drive sustainable growth [379]. Financial Management and Investments - Investment in R&D increased by 25% year-over-year, totaling $300 million for the current fiscal year [5]. - The company completed a strategic acquisition of a tech startup for $500 million to enhance its product offerings [7]. - The company expects to provide financial support to its VIE using proceeds from its initial public offering in July 2020 and future equity or debt securities issuances [365]. Regulatory Compliance - The PRC Telecommunications Regulations require telecommunications service providers to obtain operating licenses before commencing operations, ensuring regulatory compliance [292]. - The Cyber Security Law mandates that internet information service providers implement technical measures to safeguard personal data and report security incidents promptly [302]. - The PRC Trademark Law protects registered trademarks and imposes penalties for infringement, including fines and confiscation of counterfeit goods [307]. - The PRC Copyright Law extends copyright protection to internet activities and software products, with penalties for infringement including civil liabilities and potential criminal charges [309]. Operational Efficiency - Operating margin improved to 30%, up from 28% in the previous quarter [10]. - Customer retention rate improved to 85%, up from 80% in the previous quarter [8]. - The company has implemented a data security management policy and utilizes industry-standard encryption algorithms to protect sensitive personal information [273]. - The company has a contractual arrangement with its VIE that allows it to exercise effective control and receive economic benefits from its operations [354].

Financial Data and Key Metrics Changes - For the full year of 2020, revenues increased by 25% year-over-year to RMB 2.6 billion, with adjusted net income rising by 48% to RMB 76 million and adjusted EBITDA increasing by 44% to RMB 134 million [6][12][18] - Q4 revenues were CNY 871.7 million, representing a 32% year-over-year increase, primarily driven by on-demand food delivery solutions [13] - Gross profit for the full year was CNY 192.5 million, an increase of 18.6% year-over-year, while Q4 gross profit was CNY 40.1 million, a decrease of 7% year-over-year [18][14] Business Line Data and Key Metrics Changes - Revenues from on-demand food delivery solutions for 2020 were CNY 2.5 billion, a 25.1% increase from 2019, with Q4 revenues at CNY 847.5 million, a 30% increase [17][13] - Shared-bike solutions revenues were CNY 21.5 million for the full year, stable compared to 2019, while Q4 revenues were CNY 10.6 million, a significant increase from CNY 4.8 million [17][14] - Revenues from ride-hailing solutions increased by 35.7% year-over-year to CNY 10.1 million for the full year, with Q4 revenues at CNY 4.6 million, a 55.2% increase [17][14] - Housekeeping solutions revenues surged to CNY 4 million for the full year from CNY 262,000 in 2019, with Q4 revenues at CNY 8.4 million [17][14] Market Data and Key Metrics Changes - The on-demand food delivery business maintained a leading position with a 25% year-over-year increase in average monthly orders [10] - The mobility sector, including operations with Hello and Didi, achieved a 45% revenue growth year-over-year [10] Company Strategy and Development Direction - The company plans to diversify into more service offerings and has made strategic investments to scale up certain business sectors, particularly in housekeeping and mobility [10][11] - The management aims to build infrastructure supporting a series of services from recruiting blue-collar workers to providing vocational training, enhancing long-term competitive advantages [26] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by COVID-19 but expressed confidence in the company's ability to capture growth opportunities as the pandemic's impact subsides [12] - The company expects better performance in 2021, particularly in housekeeping and mobility sectors, as the market stabilizes [26] Other Important Information - The company has developed a management network of about 1,000 experienced front-end managers to enhance operational efficiency [8] - The company has invested in R&D to refine its management system, which has helped maintain lower operating management costs [9] Q&A Session Summary Question: Declines in gross margin, particularly in food service - The decline was mainly due to increased service fees paid to riders and hiring expenses due to labor shortages in the market [20][21] Question: Changes in hiring costs in 2021 - The situation remains challenging in early 2021, especially during the Spring Festival, but improvements are expected in Q2 [24] Question: Broader strategy for fresh food, housekeeping, and on-demand food delivery - The company anticipates continued growth in food delivery and significant growth in housekeeping and mobility as pandemic impacts lessen [26] Question: Permanent increases in logistical fees due to COVID - Overall labor costs and recruiting fees are increasing, but the company benefits from its internal systems to manage costs effectively [28] Question: Revenue per order trends for food delivery and fresh food - The growth rate for food delivery is expected to remain around 30%, while fresh food delivery is anticipated to grow at a higher rate [30]

Financial Data and Key Metrics Changes - The company reported revenues of RMB769.5 million, representing a year-over-year increase of 20.8% [11] - Adjusted net income reached RMB61.3 million, a significant increase of 447.5% from RMB11.2 million in the same quarter last year [14] - Gross profit was RMB80.9 million, reflecting a year-over-year increase of 70.4%, with a gross margin of 10.5% compared to 7.5% in the previous year [13] Business Line Data and Key Metrics Changes - Revenues from on-demand food delivery solutions were RMB758.8 million, up 20.3% from RMB630.4 million in Q3 2019 [11] - Shared-bike solutions revenues decreased by 22.8% to RMB4.1 million, while ride-hailing solutions revenues increased by 171.2% to RMB3.3 million [12] - Housekeeping solutions revenues were RMB3.4 million, a significant increase from nil in the previous year, marking an 803.3% increase from Q2 2020 [12] Market Data and Key Metrics Changes - The company expanded its housekeeping service coverage to 22 cities in China, providing services for over 1,900 B&Bs and 1,200 hotels [9] - The fresh food and grocery delivery segment contributed RMB18.1 million in revenues during the quarter, indicating growth in this area [11] Company Strategy and Development Direction - The company aims to become a leading gig economy platform in localized life services, including food delivery, transportation, housekeeping, and healthcare solutions [10] - The management system, Quhuo +, has enabled efficient management of a large workforce without significant increases in costs, supporting rapid growth [6][7] - Future strategies include leveraging existing infrastructure and management to expand into new sectors while maintaining profitability [21][22] Management's Comments on Operating Environment and Future Outlook - Management expressed positive expectations for solid operational and financial performance in the fourth quarter, particularly in the housekeeping solutions sector [10] - The company anticipates significant revenue structure changes in 2021, with a focus on growth in transportation and housekeeping services [21][22] - Management acknowledged the competitive landscape but emphasized their unique positioning and operational efficiencies [18] Other Important Information - General and administrative expenses increased by 211.4% year-over-year, primarily due to share-based compensation and increased staff costs [13][14] - Adjusted EBITDA was RMB85.1 million, representing a 201% increase compared to RMB28.3 million in Q3 2019 [14] Q&A Session Summary Question: Can you discuss your strategic positioning in food delivery and plans for fresh food and grocery? - Management highlighted their focus on premium delivery services and the integration of various sectors to enhance growth [18] Question: What is the strategy for housekeeping in 2021 and the impact of investments? - Management indicated plans to leverage existing infrastructure for growth in housekeeping and transportation, expecting significant contributions to revenue [21][22] Question: How much more room is there for gross margin improvement in food delivery? - Management noted that while mature sectors will continue to see growth, new sectors will focus on expansion rather than immediate profitability [27] Question: Are there plans to tap into the community grocery market? - Management confirmed they are exploring partnerships in the community grocery segment but currently have no revenues from this sector [30]