Quhuo(US:QH)2021-12-20 16:00Financial 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]