Quhuo Reports Financial Results for the Second Half and Full Year 2024: Solidifying Core Business, Driving Diversified Growth Through Innovation

Core Business Performance - Quhuo achieved total revenue of RMB 3,046.9 million and an adjusted EBITDA of RMB 9.07 million in 2024, marking positive EBITDA for three consecutive fiscal years [3] - The company reduced general and administrative expenses by 19.4% year-on-year and R&D expenses by 13.7%, enhancing operational efficiency [3] - Significant profit gains were driven by a focus on core businesses, with gross profit margins from shared-bike maintenance and ride-hailing services increasing by 15.7% and 216.9% respectively [4] Global Expansion Initiatives - Quhuo International shipped over 3,500 vehicles to overseas markets by the end of 2024 and launched the Carnuxt brand for used vehicle certification across various regions [5] - The company developed a "technology + resources" solution for international markets, successfully partnering with local entities in Azerbaijan to enhance ride-hailing services [6][7] - The model allows local dealers to integrate vehicles with ride-hailing platforms efficiently, leading to repeat orders and market validation for Quhuo's solutions [8] Business Model Innovation - Quhuo formed a strategic partnership with NIU World to provide distribution services for beef products, transitioning from a fulfillment service provider to a supply chain enabler [10][11] - The partnership operates on an "on-demand production and real-time fulfillment" model, significantly improving supply chain efficiency and product freshness [12][13] - This innovative model is expected to drive revenue growth in 2025 and may expand to other perishable food segments [14] Corporate Social Responsibility - By 2024, Quhuo created flexible job opportunities for over 830,000 workers and provided commercial insurance and vocational training [15] - The company's initiatives, such as EV exports and fresh beef supply models, contribute to reducing carbon emissions and food waste, promoting sustainable consumption [16] - Quhuo aims to leverage business innovation to address social challenges and set a benchmark for socially responsible enterprises [16] Strategic Vision - The company plans to optimize resource allocation, strengthen partnerships, and enhance ecosystem resilience to deliver long-term value to shareholders and society [17]