QUHUO Ltd to Rely on Home Country Exemption for Audit Committee Composition

summarizeSummary

QUHUO Ltd announced it will rely on a home country practice exemption for its audit committee, allowing it to operate with two independent directors following a recent resignation, rather than the three required by Nasdaq rules.

check_boxKey Events

• Audit Committee Composition Update

  Following a director's resignation, the audit committee now comprises two independent members, Ms. Jie Jiao and Mr. Jingchuan Li.

• Reliance on Home Country Exemption

  The company intends to use a home country practice exemption to maintain a two-member audit committee, deviating from Nasdaq's requirement for three independent directors.

• Audit Committee Financial Expert Confirmed

  Ms. Jie Jiao has been determined to qualify as an 'audit committee financial expert'.

auto_awesomeAnalysis

This filing provides an update following the previously disclosed resignation of Ms. Jing Zhou from the board and its committees on January 27, 2026. The key new information is the company's decision to utilize a home country practice exemption, allowing its audit committee to consist of two independent directors instead of the three required by Nasdaq Listing Rule 5605(c)(2)(A). While permitted for foreign private issuers, this reliance on an exemption for a critical governance committee may be viewed as a less robust governance structure by some investors, potentially raising questions about corporate oversight standards.