Quhuo Limited Reports Strong Profit Growth in 2024

Quhuo Ltd. ( (QH) ) has released its Q4 earnings. Here is a breakdown of the information Quhuo Ltd. presented to its investors.

Quhuo Limited is a prominent gig economy platform in China, specializing in local life services, including on-demand delivery, mobility, and housekeeping solutions, leveraging its proprietary technology infrastructure to empower workers and service providers.

In its latest earnings report for the second half and full year of 2024, Quhuo Limited showcased significant growth in profitability despite a decline in total revenues. The company reported a notable increase in net income and adjusted EBITDA, driven by strategic business optimizations and cost reductions.

Key financial highlights include a 311.1% year-over-year increase in net income for the second half of 2024, reaching RMB48.1 million. Adjusted EBITDA also saw an 81.7% rise, while general and administrative expenses decreased by 24.2%. The company highlighted its cross-border vehicle export business as a key growth driver and announced a strategic partnership in its food delivery sector.

Despite a decrease in total revenues by 27.4% in the second half of 2024, Quhuo’s strategic focus on high-quality business development and operational efficiency has resulted in improved gross profit margins across various sectors. The company’s efforts in optimizing its business operations have led to a reduction in costs and an enhancement in profitability.

Looking forward, Quhuo’s management remains optimistic about its growth prospects, focusing on operational optimization, partner empowerment, and market opportunities to deliver sustainable returns for shareholders and create lasting value for society.