QUHUO Ltd

QUHUO Ltd is a leading gig economy platform focused on local life services in China. The company operates a platform with a large, flexible, and standardized workforce. As of December 31, 2025, QUHUO had approximately 969,000 registered workers on its platform. It provides technology-enabled, end-to-end operational solutions primarily to consumer service businesses. These solutions include on-demand delivery, mobility services, and housekeeping and accommodation services, among others. Leveraging its internal technology infrastructure, QUHUO deploys workers across different regions and industries to serve customers. This includes fulfilling delivery orders for prepared food, grocery, and fresh food; carrying out maintenance for shared bikes; fulfilling intra-city and long-distance transportation orders; and providing housekeeping and accommodation services for hotels and B&Bs. The company generates revenue primarily from service fees paid by its industry customers. A smaller portion of revenue comes from rental fees under car leasing agreements with drivers engaged in its ride-hailing solutions. As of December 31, 2025, QUHUO's industry customers included top market players such as Meituan and Taobao Shangou (previously Ele.me) in on-demand delivery, and KFC, Didi, and Qingju Bike in the mobility-as-a-service sector. The platform had reached 277 cities across 31 provinces, municipalities, and autonomous regions in China as of December 31, 2025. In the three months ended December 31, 2025 and 2024, QUHUO had approximately 39,500 and 33,000 average monthly active workers on its platform, respectively.