Form 6-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Form 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of December 2020

Commission File Number 001- 39354

 

 

Quhuo Limited

(Exact name of registrant as specified in its charter)

 

 

3rd Floor, Block D, Tonghui Building

No. 1132 Huihe South Street, Chaoyang District

Beijing, People’s Republic of China

(+86-10) 5338 4963

(Address of principal executive office)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F  ☒            Form 40-F  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ☐

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ☐

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

 

 

 


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  Quhuo Limited
Date:December 3, 2020   By:  

/s/ Leslie Yu

    Name:   Leslie Yu
    Title:   Chairman and Chief Executive Officer


EXHIBIT INDEX

 

Exhibit
Number

  

Description

99.1    Press Release
EX-99.1

Exhibit 99.1

Quhuo Announces Third Quarter 2020 Unaudited Financial Results

BEIJING, China, December 3, 2020 (GLOBE NEWSWIRE) — Quhuo Limited (NASDAQ: QH) (“Quhuo,” the “Company,” “we” or “our”), a leading tech-enabled workforce operational solution platform in China, today announced its unaudited financial results for the third quarter ended September 30, 2020.

Key Third Quarter 2020 Financial Highlights

 

   

Revenues were RMB769.5 million (US$113.3 million), representing a 20.8% year-over-year increase and a 40.5% increase compared with the second quarter of 2020.

 

   

Gross profit was RMB80.9 million (US$11.9 million), representing a 70.4% year-over-year increase and a 34.1% increase compared with the second quarter of 2020. Gross profit margin was 10.5%, representing an increase from 7.5 % in the third quarter of 2019.

 

   

Adjusted EBITDA was RMB85.1 million (US$12.5 million), representing a 201.0% year-over-year increase and a 111.1% increase compared with the second quarter of 2020.

 

   

Adjusted net income was RMB61.3 million (US$9.0 million), representing a 447.5% year-over-year increase and a 192.5% increase compared with the second quarter of 2020. The adjusted net margin increased significantly to 8.0% from 3.8% in the second quarter of 2020 and 1.8% in the third quarter of 2019, respectively.

Third Quarter 2020 Operating Highlights

 

   

Sustained growth of on-demand food delivery. The number of average monthly delivery orders was 33.6 million, representing a 17.4% year-over-year increase and a 38.6% increase from the second quarter of 2020.

 

   

Continuing service scope and geographical expansion.

 

   

The Company further expanded housekeeping solutions into 22 cities in China and provided services for over 1,900 B&Bs.

 

   

For grocery and fresh food delivery, the Company fulfilled a total of 2.5 million orders, representing an 612.1% increase from the second quarter of 2020.

Comment from Leslie Yu, Chairman and Chief Executive Officer of QUHUO: “We are pleased with achieving growth for the third quarter, while the pandemic became more effectively controlled in China and our clients’ businesses continue to recover. Revenues increased by 21% year-over-year to RMB770 million. Notably, benefiting from operating leverage, adjusted net income reached RMB61 million, representing an increase of over 400% year-over-year. Despite ongoing market challenges, we continued to focus on strategically expanding the scope and coverage of our business. For example, for our food delivery business, we increased market penetration across more geographical regions and ramped up our efforts in grocery and fresh food delivery, further diversifying our service scope. We also made solid progress in the housekeeping business, expanding coverage to 22 cities across China by the end of the third quarter. We are proud of our growth trajectory and look forward to delivering sustainable growth and more robust results.”


Third Quarter 2020 Financial Results

Revenues were RMB769.5 million (US$113.3 million), representing an increase of 20.8% year-over-year, primarily due to the increase in revenues generated from on-demand food delivery solutions.

 

   

Revenues from on-demand food delivery solutions were RMB758.8 million (US$111.7 million), representing an increase of 20.3% from RMB630.4 million in the third quarter of 2019, primarily due to the increase in delivery orders fulfilled as a result of the continuing expansion into new geographical markets and the rapid growth of grocery and fresh food delivery, which contributed revenues of RMB18.1 million (US$2.7 million) in this quarter.

 

   

Revenues from shared-bike solutions were RMB4.1 million (US$603,297), representing a decrease of 22.8% from RMB5.3 million in the third quarter of 2019, primarily due to the decline of business volume in some cities where we operated.

 

   

Revenues from ride-hailing solutions were RMB3.3 million (US$493,293), representing an increase of 171.2% from RMB1.2 million in the third quarter of 2019, primarily due to the increase in the number of vehicles we leased to ride-hailing drivers on our platform.

 

   

Revenues from housekeeping solutions and other services were RMB3.4 million (US$504,502), compared to nil in the third quarter of 2019 and representing an increase of 803.3% from the second quarter of 2020, primarily due to our expanded provision of housekeeping solutions to B&Bs.

Cost of revenues were RMB688.6 million (US$101.4 million), representing an increase of 16.8% year-over-year, primarily due to the increased cost of revenues from on-demand food delivery solutions, ride-hailing solutions and housekeeping solutions and other services

 

   

Cost of revenues related to on-demand food delivery solutions was RMB677.1 million (US$99.7 million), representing an increase of 16.4% from RMB581.7 million in the third quarter of 2019, primarily due to the increase in 1) service fees paid to riders in line with the increase in the delivery orders fulfilled, 2) insurance expenses for riders, and 3) rental fees paid to lease the workplace for additional service stations.

 

   

Cost of revenues related to shared-bike maintenance solutions was RMB3.4 million (US$507,002), representing a decrease of 8.3% from RMB3.8 million in the third quarter of 2019, which was generally in line with the decline of the business volume of shared-bike maintenance solutions.

 

   

Cost of revenues related to ride-hailing solutions was RMB4.7 million (US$686,437), representing an increase of 14.2% from RMB4.1 million in the third quarter of 2019, primarily due to the increase in the number of vehicles leased from third parties.


   

Cost of revenues related to housekeeping solutions and other services was RMB3.5 million (US$509,641), representing an increase of 653.4% from the second quarter of 2020, which was in line with the business growth.

Gross profit was RMB80.9 million (US$11.9 million), representing an increase of 70.4% year-over-year, primarily due to the increase in gross profit of on-demand food delivery solutions.

Gross profit margin was 10.5%, compared with 7.5% for the third quarter of 2019.

 

   

Gross profit margin of on-demand food delivery solutions was 10.8%, compared to 7.7% in the third quarter of 2019, primarily due to the decreases in service fees paid to riders and team leaders, hiring expenses, insurance expenses and rental fees as a percentage of revenues.

 

   

Gross profit margin of shared-bike maintenance solutions was 16.0%, compared with 29.2% in the third quarter of 2019.

 

   

Gross loss margin of ride-hailing solutions was 39.2%, compared with 230.6% in the third quarter of 2019, primarily because our revenue generated from the provision of ride-hailing solutions increased at a greater pace than the related cost of services.

 

   

Gross loss margin of house-keeping solutions and other services was 1.0%, compared with 21.1% in the second quarter of 2020, primarily because our revenue generated from the provision of house-keeping solutions and other services increased at a greater pace than the related cost of services.

Operating expenses were RMB104.9 million (US$15.5 million), representing an increase of 202.4% year-over-year. Excluding the share-based compensation, the increase would have been 8.7% year-over-year.

 

   

General and administrative expenses were RMB103.2 million (US$15.2 million) (including share-based compensation of RMB72.0 million), representing an increase of 211.4% from RMB33.1 million (including share-based compensation of RMB4.5 million) in the third quarter of 2019. The increase was primarily due to increases in 1) share-based compensation as the IPO performance conditions of our share incentive plan was satisfied upon the completion of our initial public offering, and 2) staff costs as a result of an increase in the number of operating staff. The general and administrative expenses would have increased by 8.6% from RMB28.7 million in the third quarter of 2019 after excluding the share-based compensation and, as a percentage of revenues, would have declined to 4.1% from 4.5% in the third quarter of 2019. As such, the Company achieved unit cost savings along with business growth.

 

   

Research and development expenses were RMB3.0 million (US$446,207), representing an increase of 40.6% from RMB2.2 million in the third quarter of 2019, primarily due to the increase in the headcount of our research and development personnel.


Income tax expense was RMB15.8 million (US$2.3 million), representing an increase of 39.0% from RMB11.4 million in the third quarter of 2019, primarily due to the increase in the taxable income generated from on-demand food delivery solutions.

Net loss attributable to Quhuo Limited was RMB9.6 million (US$1.4 million), compared with a net income of RMB6.6 million in the third quarter of 2019, primarily due to the increase of share-based compensation as discussed above.

Adjusted EBITDA was RMB85.1 million (US$12.5million), representing an increase of 201.0% from RMB28.3 million in the third quarter of 2019.(1)

Adjusted net income was RMB61.3 million (US$9.0 million), representing an increase of 447.5% from RMB11.2 million in the third quarter of 2019.(1)

 

(1)

See “Use of Non-GAAP Financial Measures.”

Balance Sheet

As of September 30, 2020, the Company had cash and short-term investments of RMB413.6 million (US$60.9 million) and short-term debt of RMB137.4 million (US$20.2 million).

Recent Development

Harry Chi Hui has resigned from the Company’s board of directors, effective as of December 2, 2020. Mr. Hui’s resignation did not result from any disagreement with the Company on any matter relating to the Company’s operations, financial reporting, policies or practices.

CONFERENCE CALL

Quhuo will hold a conference call on Thursday, December 3, 2020 at 7:00 a.m. U.S. Eastern Time (8:00 p.m. Beijing/Hong Kong time on the same day) to discuss the financial results.

Participant can register for the conference call by navigating to http://apac.directeventreg.com/registration/event/8088221. Once preregistration has been completed, participants will receive dial-in numbers, a direct event passcode, and a unique registrant ID.

To join the conference, please dial the number you receive, enter the direct event passcode followed by your unique registrant ID, and you will be joined to the conference instantly.

A live and archived webcast of the conference call will also be available at the Company’s investor relations website at https://ir.quhuo.cn/.


A replay will be accessible through 7:59 a.m. Eastern Time on December 11, 2020 by dialing the following numbers:

 

United States:    +1-646-254-3697
International:    +61-2-8199-0299
China Domestic:        400-6322-162
Hong Kong:    +852-3051-2780
Conference ID:    8088221#

USE OF NON-GAAP FINANCIAL MEASURES

Quhuo has provided in this press release financial information that has not been prepared in accordance with generally accepted accounting principles in the United States (GAAP).

Quhuo uses adjusted net income (loss) and adjusted EBITDA, which are non-GAAP financial measures, in evaluating our operating results and for financial and operational decision-making purposes. Adjusted net income (loss) represents net income (loss) before share-based compensation expenses. Adjusted EBITDA represents adjusted net income(loss) before income tax benefit(expense), amortization, depreciation and interest. Quhuo believes that these non-GAAP financial measures help identify underlying trends in its business that could otherwise be distorted by the effect of share-based compensation expenses, income tax benefits or expenses, amortization, depreciation and interest. Quhuo believes that such non-GAAP financial measures also provide useful information about its operating results, enhance the overall understanding of its past performance and future prospects and allow for greater visibility with respect to key metrics used by its management in its financial and operational decision-making.

The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. They should not be considered in isolation or construed as alternatives to net loss or any other measure of performance or as an indicator of Quhuo’s operating performance. Further, these non-GAAP financial measures may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to the Company’s data. Quhuo encourages investors and others to review the Company’s financial information in its entirety and not rely on a single financial measure. Investors are encouraged to compare the historical non-GAAP financial measures with the most directly comparable GAAP measures. Quhuo mitigates these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP performance measures, all of which should be considered when evaluating its performance. The following table sets forth a reconciliation of our net income (loss) to adjusted net income and adjusted EBITDA, respectively.


     Reconciliation of GAAP and Non-GAAP Results  
     For the Three Months Ended     For the Nine Months Ended  
    

September

30, 2019

    September 30,
2020
    September 30,
2020
    September 30,
2019
    September 30,
2020
    September 30,
2020
 
     (RMB‘000)     (RMB‘000)     (US$‘000)     (RMB‘000)     (RMB‘000)     (US$‘000)  

Net income /(loss)

     6,754       (10,701     (1,576     (13,165     (12,600     (1,856

Less: Share-based Compensation

     (4,451     (72,047     (10,611     (61,931     (74,627     (10,991

Adjusted net income/(loss)

     11,205       61,346       9,035       48,766       62,027       9,135  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Less: Income tax expense

     (11,381     (15,822     (2,330     (20,392     (30,258     (4,457

Depreciation

     (793     (1,809     (266     (2,118     (5,921     (871

Amortization

     (3,026     (3,856     (568     (8,511     (9,889     (1,456

Interest

     (1,879     (2,300     (339     (3,866     (6,963     (1,026

Adjusted EBITDA

     28,284       85,133       12,538       83,653       115,058       16,945  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

EXCHANGE RATE INFORMATION

This press release contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB 6.7896 to US$1.00, the rate in effect as of September 30, 2020 as set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all.

SAFE HARBOR STATEMENT

This press release contains ‘‘forward-looking statements’’ within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical or current fact included in this press release are forward-looking statements, including but not limited to statements regarding Quhuo’s business development, financial outlook, beliefs and expectations. Forward-looking statements include statements containing words such as “expect,” “anticipate,” “believe,” “project,” “will” and similar expressions intended to identify forward-looking statements. These forward-looking statements are based on Quhuo’s current expectations and involve risks and uncertainties. Quhuo’s actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks related to Quhuo’s abilities to (1) address any or all of the risks and challenges in the future in light of its limited operating history and evolving business portfolios, (2) remain its competitive position in the on-demand food delivery market or further diversify its solution offerings, (3) maintain relationships with major customers and to find replacement customers on commercially desirable terms or in a timely manner or at all, (4) maintain relationship with existing industry customers or attract new customers, (5) attract, retain and manage workers on its platform, and (6) maintain its market shares to competitors in existing markets and its success in expansion into new markets, as well as the length and severity of the recent COVID-19 outbreak and its impact on Quhuo’s business and industry. Other risks and uncertainties are included under the caption “Risk Factors” and elsewhere in the Company’s filings with the Securities and Exchange Commission, including, without limitation, the final prospectus related to the IPO filed with the SEC on July 10, 2020. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and Quhuo undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.

 


ABOUT QUHUO LIMITED

Quhuo Limited (NASDAQ: QH) was the largest workforce operational solution platform in China in 2019*. Quhuo provides tech-enabled, end-to-end operational solutions to blue-chip on-demand consumer service businesses in industries with significant e-commerce exposure, including food delivery, ride-hailing, housekeeping and bike-sharing. Quhuo’s platform helps its industry customers mobilize a large team of workers and utilizes a combination of training, performance monitoring and refinement, and incentives to transform them into skilled workers who can follow industry-specific, standardized and highly efficient service procedures. Within the on-demand consumer service ecosystem, the Company plays a unique and indispensable role as the link between consumer service businesses and the end consumers to enable the delivery of goods, services and experiences to consumers.

* According to an industry report prepared by Frost & Sullivan in 2019, as measured by the number of average monthly active workers in 2019.

For more information about Quhuo, please visit https://ir.quhuo.cn/.

CONTACTS:

Investor Relations

Quhuo Limited

Annia Sun

E-mail: ir@meishisong.cn

Christensen

In China

Mr. Eric Yuan

Phone: +86-13801110739

E-mail: Eyuan@christensenir.com

In US

Ms. Linda Bergkamp

Phone: +1-480-614-3004

E-mail: lbergkamp@christensenir.com


QUHUO LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“US$”), except for number of shares and per share data)

 

     As of December 31, 2019      As of September 30, 2020      As of September 30, 2020  
     (RMB)      (RMB)      (US$)  

Assets

        

Current assets

        

Cash

     126,779        138,674        20,425  

Short-term investments

     56,275        274,876        40,485  

Accounts receivable

     276,966        301,653        44,429  

Prepayments and other current assets

     43,058        47,823        7,043  

Amounts due from related parties

     18,392        225        33  
  

 

 

    

 

 

    

 

 

 

Total current assets

     521,470        763,251        112,415  
  

 

 

    

 

 

    

 

 

 

Non-current assets

        

Property and equipment, net

     25,632        27,520        4,053  

Intangible assets, net

     66,818        97,751        14,397  

Long-term investments

     1,715        1,065        157  

Goodwill

     26,231        30,824        4,540  

Deferred tax assets

     3,893        2,813        414  

Other non-current assets

     98,137        97,956        14,426  
  

 

 

    

 

 

    

 

 

 

Total non-current assets

     222,426        257,929        37,987  
  

 

 

    

 

 

    

 

 

 

Total assets

     743,896        1,021,180        150,402  
  

 

 

    

 

 

    

 

 

 

Liabilities, mezzanine equity and shareholders’ (deficit)/equity

        

Current liabilities

        

Accounts payables

     232,276        195,573        28,805  

Accrued expenses and other current liabilities

     75,825        105,114        15,482  

Short-term loans

     143,979        137,445        20,243  
  

 

 

    

 

 

    

 

 

 

Total current liabilities

     452,080        438,132        64,530  
  

 

 

    

 

 

    

 

 

 

Non-current liabilities

        

Deferred tax liabilities

     2,556        2,667        393  

Long-term debt

     11,942        6,993        1,030  

Other non-current liabilities

     22,766        22,239        3,275  
  

 

 

    

 

 

    

 

 

 

Total non-current liabilities

     37,264        31,899        4,698  
  

 

 

    

 

 

    

 

 

 

Total liabilities

     489,344        470,031        69,228  
  

 

 

    

 

 

    

 

 

 

Total mezzanine equity

     1,031,001        —          —    
  

 

 

    

 

 

    

 

 

 


QUHUO LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)

(Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“US$”), except for number of shares and per share data)

 

     As of December 31, 2019     As of September 30, 2020     As of September 30, 2020  
     (RMB)     (RMB)     (US$)  

Shareholders’ (deficit)/equity

      

Ordinary shares

     17       —         —    

Class A ordinary shares

     —         32       5  

Class B ordinary shares

     —         4       1  

Additional paid-in capital

     434,151       1,773,925       261,271  

Accumulated deficit

     (1,212,257     (1,220,805     (179,805

Accumulated other comprehensive loss

     (1,231     (8,513     (1,255
  

 

 

   

 

 

   

 

 

 

Total Quhuo Limited shareholders’ (deficit)/equity

     (779,320     544,643       80,217  
  

 

 

   

 

 

   

 

 

 

Non-controlling interests

     2,871       6,506       957  
  

 

 

   

 

 

   

 

 

 

Total shareholders’ (deficit)/equity

     (776,449     551,149       81,174  
  

 

 

   

 

 

   

 

 

 

Total liabilities, mezzanine equity and shareholders’ (deficit)/equity

     743,896       1,021,180       150,402  
  

 

 

   

 

 

   

 

 

 


QUHUO LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“US$”), except for number of shares and per share data)

 

    For the Three Months Ended     For the Nine Months Ended  
   

September 30,

2019

   

September 30,

2020

   

September 30,

2020

   

September 30,

2019

   

September 30,

2020

    September 30,
2020
 
    (RMB)     (RMB)     (US$)     (RMB)     (RMB)     (US$)  

Revenues

    636,962       769,544       113,342       1,395,760       1,709,739       251,817  

Cost of revenues

    (589,488     (688,638     (101,426     (1,276,619     (1,557,338     (229,371
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Gross profit

    47,474       80,906       11,916       119,141       152,401       22,446  

Operating expenses

           

General and administrative

    (33,146     (103,201     (15,200     (127,053     (160,215     (23,597

Research and development

    (2,154     (3,029     (446     (6,549     (8,346     (1,229

Gains on disposal of intangible assets, net

    606       1,308       193       4,269       2,600       383  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total operating expenses

    (34,694     (104,922     (15,453     (129,333     (165,961     (24,443
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Operating income/(loss)

    12,780       (24,016     (3,537     (10,192     (13,560     (1,997

Interest income

    93       110       16       104       625       92  

Interest expense

    (1,879     (2,300     (339     (3,866     (6,963     (1,026

Other income, net

    7,133       32,128       4,732       21,051       39,058       5,753  

Share of net income from equity method investees

    —         —         —         162       —         —    

Foreign exchange gain/(loss)

    8       (801     (118     (32     (1,502     (221
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Income (loss) before income tax

    18,135       5,121       754       7,227       17,658       2,601  

Income tax expense

    (11,381     (15,822     (2,330     (20,392     (30,258     (4,457
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss)

    6,754       (10,701     (1,576     (13,165     (12,600     (1,856

Net (gain)/loss attributable to non-controlling interests

    (112     1,096       161       1,158       4,052       597  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net loss/(income) attributable to ordinary shareholders of the Quhuo limited

    6,642       (9,605     (1,415     (12,007     (8,548     (1,259
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Non-GAAP Financial Data

           

Adjusted net income

    11,205       61,346       9,035       48,766       62,027       9,135  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA

    28,284       85,133       12,538       83,653       115,058       16,945  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Income/(loss) per share for class A and class B ordinary shares

           

Ordinary shares - basic

    0.17       —         —         (0.80     —         —    

Ordinary shares - diluted

    0.15       —         —         (0.80     —         —    

Class A and Class B ordinary shares – basic and diluted

    —         (0.24     (0.04     —         (0.37     (0.05

Net income / (loss) used in basic earnings (loss) per share calculation

    2,543       (9,605     (1,415     (12,007     (8,548     (1,259

Net income / (loss) used in diluted earnings (loss) per share calculation

    6,642       (9,605     (1,415     (12,007     (8,548     (1,259

Weighted average number of Class A and Class B ordinary shares used in Income/(loss) per share computation:

           

Ordinary shares - basic

    14,972,760       —         —         14,972,760       —         —    

Ordinary shares - diluted

    44,525,074       —         —         14,972,760       —         —    

Class A and Class B ordinary shares – basic and diluted

    —         40,130,720       40,130,720       —         23,358,747       23,358,747  

Other comprehensive income:

           

Foreign currency translation adjustment:

    (53     (7,993     (1,177     (53     (7,282     (1,073
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Comprehensive income (loss)

    6,701       (18,694     (2,753     (13,218     (19,882     (2,929

Comprehensive (income)/loss attributable to

non-controlling interests

    (112     1,096       161       1,158       4,051       597  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Comprehensive income/(loss) attributable to ordinary shareholders of Quhuo Limited

    6,589       (17,598     (2,592     (12,060     (15,831     (2,332