Earnings release
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Exhibit 99.1 • Quhuo Announces Second Quarter 2021 Unaudited Financial Results BEIJING , China , August 25 , 2021 — 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 second quarter ended June 30 , 2021 . Financial and Operational Highlights for the Second Quarter of 2021 Total revenues were RMB991.8 million ( US $ 153.6 million ) , representing an 81.1 % year - over - year increase . • Revenues from on - demand delivery solutions increased 74.1 % year - over - year . • • Revenues from mobility service solutions , consisting of shared - bike maintenance and ride hailing solutions , increased 336.9 % year - over - year . Revenues from housekeeping and accommodation solutions increased 56 times year - over - year and 67.2 % quarter - over - quarter . General and administrative expenses ( excluding share - based compensation expenses ) , as a percentage of revenues , declined to 4.1 % from 5.1 % in the second quarter of 2020 . Adjusted EBITDA was RMB29.1 million ( US $ 4.5 million ) , representing a significant improvement from adjusted EBITDA loss of RMB78.5 million in the first quarter of 2021 . Adjusted net income was RMB9.9 million ( US $ 1.5 million ) , representing a significant improvement from adjusted net loss of RMB79.3 million in the first quarter of 2021 . The number of average monthly delivery orders was 45.0 million , representing an 85.2 % year - over - year increase . We provided services in 1,205 business circles across 139 cities nationwide in the second quarter of 2021 , compared with 952 business circles across 75 cities in the same period in 2020 . Comment from Leslie Yu , Chairman and Chief Executive Officer of QUHUO : “ We are pleased to report another strong quarter as total revenues grew by 81 % year - over - year and almost reached milestone of RMB1 billion , thanks to strong demand for our services and our large workforce networks across the country . All three of our main business lines - on - demand delivery solutions , mobility service solutions , and housekeeping and accommodation solutions - cover the needs of people's daily necessities , and saw robust growth momentum in the second quarter . At the same time , we achieved adjusted net income of RMB9.9 million , a significant improvement from the first quarter . These results reflect the economy of scale of our business model and strong execution of our multi - scenario deployment strategy . Looking ahead , we are strongly motivated by the tremendous growth opportunities as we rapidly scale our platform to meet growing demand in various service areas . We are fully committed to delivering long - term value and profitable growth for our shareholders . "