• Total Revenue (Full Year 2024): RMB 3,046.8 million, a decrease of 17.7% from 2023.
• Total Revenue (Second Half 2024): RMB 1,426.9 million, a decrease of 27.4% from the second half of 2023.
• Revenue from On-Demand Delivery Solutions (Full Year 2024): RMB 2,828.5 million, a decrease of 17.1% from 2023.
• Revenue from Mobility Service Solutions (Full Year 2024): RMB 175.1 million, a decrease of 25.1% from 2023.
• Revenue from Housekeeping and Accommodation Solutions (Full Year 2024): RMB 43.2 million, a decrease from RMB 55.7 million in 2023.
• Cost of Revenue (Full Year 2024): RMB 2,973.2 million, a decrease of 15.9% from 2023.
• General and Administrative Expenses (Full Year 2024): RMB 148.6 million, a decrease from RMB 184.3 million in 2023.
• Adjusted EBITDA (Full Year 2024): RMB 9.1 million, compared to RMB 35.2 million in 2023.
• Net Income Attributable to Quhuo Ltd (Full Year 2024): RMB 1.6 million, compared to RMB 6 million in 2023.
• Cash and Cash Equivalents (As of December 31, 2024): RMB 65.1 million.
• Short-term Debt (As of December 31, 2024): RMB 112.8 million.

• Warning! GuruFocus has detected 6 Warning Signs with QH.

Release Date: April 29, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Quhuo Ltd (NASDAQ:QH) achieved a revenue of RMB 3,046.9 million in 2024, with positive EBITDA for three consecutive fiscal years.
• General and administrative expenses decreased by 19% year on year, reflecting improved operational efficiency.
• The company's bike maintenance and vehicle export businesses saw significant growth, with gross profit margins increasing notably.
• Quhuo International's used vehicle export business has become a new growth engine, exporting over 3,500 cars overseas.
• The partnership with New World has transformed Quhuo from a service provider to a supply chain enabler, enhancing delivery efficiency and creating new revenue streams.

Negative Points

• Total revenue decreased by 17.7% in 2024 compared to 2023, primarily due to the disposal of underperforming service stations.
• Revenue from mobility service solutions decreased by 25.1%, largely due to a reduction in vehicles sold in the vehicle export business.
• Net income attributable to Quhuo Ltd (NASDAQ:QH) decreased from RMB 6 million in 2023 to RMB 1.6 million in 2024.
• Adjusted EBITDA decreased from RMB 35.2 million in 2023 to RMB 9.1 million in 2024.
• The company faces challenges in maintaining revenue growth amidst a complex and ever-changing market environment.

Q & A Highlights

Q: What's the current progress of the cooperation with New World and what are the company's expectations? A: Our partnership with New World, a leading agriculture company in China, marks our transformation from a service provider to a supply chain enabler. With Quhuo's nationwide on-demand delivery network, the efficiency of beef delivery to merchants has significantly improved. During the pilot phase, several merchants have already experienced efficiency gains. Both parties will establish a joint venture to incubate new restaurant brands. By 2025, this cooperation is expected to contribute significant revenues and become a new growth driver for the company. We plan to expand this model to other food service providers requiring high standards for food preservation, offering flexible and efficient supply chain services. - Barry Ba, Chief Financial Officer

For the complete transcript of the earnings call, please refer to the full earnings call transcript.