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Hikvision unveils Guanlan Large-Scale AI Models to power next-gen AIoT products and applications

HANGZHOU, China, April 29, 2025 /PRNewswire/ — Hikvision has announced the official launch of its Guanlan Large-Scale AI Models, a suite of machine learning engines pre-trained on deep industry knowledge. Designed to excel in computer vision, natural language processing, and multimodal fusion, these models set a new benchmark for AI-powered Internet of Things (AIoT) applications.

Hikvision unveils Guanlan Large-Scale AI Models to power next-gen AIoT products and applications
Hikvision unveils Guanlan Large-Scale AI Models to power next-gen AIoT products and applications

The philosophy behind Guanlan

Inspired by an ancient Chinese philosophy that reads the subtle language of water—”To understand the nature and movement of water, one must observe its waves”—Guanlan embodies the art of perceiving the underlying nature, principles, and nuanced dynamics of all things. Derek Yang, Vice President of Hikvision International Business Center, remarked: “Guanlan’s core philosophy of uncovering hidden patterns aligns perfectly with our mission to deliver smarter, faster, and clearer insights through large-scale AI models.”

Three-tier architecture driving scenario-based digitalization

Hikvision’s Guanlan Large-Scale AI Models feature a three-tier architecture, consisting of foundation models such as large vision, language, and multimodal models, industry models at the intermediate layer, and task models at the top. This architecture is designed to meet a wide range of needs from foundational functionality to complex scenario applications, enabling unprecedented capabilities and usability with:

  • Multimodal perception abilities that combine images, text, and more
  • Multiple deployment methods for advanced, flexible applications

With companies increasingly adopting AIoT technologies to address specific operational challenges and accelerate digital transformation, Hikvision has been shifting its focus from video security to broader AIoT applications. On this path, it has become increasingly clear that large-scale AI models will play a critical role in revolutionizing the industry, driving Scenario Digitalization across public and private sectors.

Product highlights

  • DeepinViewX Cameras: Powered by Guanlan’s large vision models, these cameras double video content analysis (VCA) range, halve repeated alarms, boost detection rates, and cut perimeter false alarms by over 90% compared to conventional AI solutions.
  • AcuSeek NVRs: Guanlan’s large multimodal models allow users to search for specific objects in video footage using natural language queries. Hikvision’s AcuSeek NVRs simplify the process of video retrieval, making it faster and more efficient.
  • Expanded AIoT Portfolio: Upcoming deployments include HeatPro-Series Thermal Cameras and Intelligent Checkpoint Cameras—both enhanced by Guanlan’s unparalleled agility and precision.

Try Guanlan today

Large-scale AI models greatly enhance object detection and information retrieval in videos. We look forward to seeing more industries benefit from Hikvision’s Guanlan Large-Scale AI Models and enjoy the intelligence and convenience they provide. We aim to promote the implementation of Guanlan Large-Scale AI Models across a variety of industries and organizations.

To learn more, visit our AIoT Technologies webpage. Alternatively, contact your regional Hikvision representative to schedule a live demo and discover how Hikvision products with Guanlan Large-Scale AI Models can transform operations—on demand and at scale.

DBS Foundation’s Inaugural “GBA Impact Beyond Dialogue 2025” to Explore the Future of an Ageing Society

Reimagining collaborative approaches to silver economy with government, businesses and social enterprises


HONG KONG SAR – Media OutReach Newswire – 29 April 2025 – As Hong Kong and other cities in the Greater Bay Area face challenges brought by an ageing population, DBS Foundation (“DBSF”) believes that a senior-friendly community can be a powerful driver for innovation and economic growth. DBSF today hosts its first-ever “GBA Impact Beyond Dialogue 2025: The Future of Ageing in Hong Kong & GBA”, which brings together leaders from the government, businesses and social enterprises, redefining the silver economy and exploring cross-sector and cross-border collaborations that transform ageing into a valuable asset for the economy and society.

Leaders from business and social sectors convene at the DBS Foundation's “GBA Impact Beyond Dialogue 2025” to explore collaborative solutions for ageing population and potential market of silver economy.
Leaders from business and social sectors convene at the DBS Foundation’s “GBA Impact Beyond Dialogue 2025” to explore collaborative solutions for ageing population and potential market of silver economy.

Ho Kai Ming, JP, Under Secretary for Labour and Welfare, HKSAR Government, emphasised during his opening remarks that collaborative efforts are needed to address the opportunities and challenges posed by an ageing population. “As we navigate the complexities of an ageing population, it is essential for the community to foster a culture of collaboration and innovation. This Dialogue offers an invaluable platform for stakeholders to collaborate, co-creating a supportive environment where seniors can thrive and contribute meaningfully to society,” he remarked.

The forum features a range of discussions from leveraging innovation to cultivate holistic wellbeing in an ageing society to promoting social inclusion in Hong Kong and other cities in the Greater Bay Area.19 local social enterprises were invited to showcase their innovative solutions including those focusing on addressing ageing issues in the silver economy.

The DBSF has committed to supporting social enterprises and promoting sustainable development since its establishment in 2014. DBS Bank pledged to invest up to SGD 1 billion (approximately HKD 5.7 billion) from 2024 over the next decade to support vulnerable communities.

Alphae Chen, Head of DBS Foundation and Head of Group Strategic Marketing and Communications, DBS Bank (Hong Kong) Limited, said, “At DBS Foundation, we believe that addressing the needs of our ageing population is not just a responsibility but an opportunity for transformation. At this inaugural ‘GBA Impact Beyond Dialogue 2025’, we aim to connect like-minded businesses to collaborate, share different perspectives and generate innovative ideas that will drive actionable solutions to empower and enable our seniors to age and live in dignity, and to foster a society where seniors are supported and engaged, where their life knowledge and experience can be shared across generations.”

In addition, the event introduces the three grantees of the DBS Foundation Grant 2024, recognising impactful social enterprises. Since the launch of the grant programme in 2015, DBSF has disbursed grants totalling SGD 21.5 million[1] (equivalent to HKD 123.8 million) to some 160 grantees. Last year, over 1,500 applications across key markets[2] were received, with 22 social enterprises awarded a total of SGD 4.5 million (equivalent to HKD 25.9 million) to scale up their business and benefit vulnerable communities. All in, their work is projected to collectively benefit more than 800,000 beneficiaries over two years.

Among the 22 grantees, three notable Hong Kong enterprises include The Project Futurus, which promotes positive ageing, dignity dining and social inclusion through education, advocacy, and community service; Motive Force, which advances elderly and disabled well-being through innovative gerontechnology, rehabilitation, and primary healthcare solution; and Rhys Workshop, which empowers marginalised communities with sewing training and remote work opportunities for sustainable careers.

For more information on DBSF’s work and the DBSF Grant, please visit: https://www.dbs.com/foundation/grants.html


[1] This figure includes this latest instalment of the DBS Foundation grant programme.

[2] Singapore, Mainland China, Hong Kong, Taiwan, India, Indonesia.

Hashtag: #DBSFoundation

The issuer is solely responsible for the content of this announcement.

DBS Foundation

DBS Foundation is committed to uplifting lives and livelihoods of those in need.

Since 2014, it has been championing innovative businesses for impact – businesses that are focused on addressing key societal issues, and achieve profit through purpose. Through philanthropic funding, capacity-building, mentorship and other support measures, DBS Foundation catalyses the growth and impact of these purpose-driven businesses.

It also seeks to ignite positive change by helping the underserved and underprivileged to build towards better circumstances. This includes providing essential needs to those without, and fostering inclusion by equipping them with financial and digital literacy skills.

DBS Foundation also works with other like-minded partners to ignite enduring change. Its vision is to spark collective action to help build a better world; to make every day better and every tomorrow brighter. For more information, please visit: .

Quhuo Reports Financial Results for the Second Half and Full Year 2024: Solidifying Core Business, Driving Diversified Growth Through Innovation

BEIJING, April 29, 2025 /PRNewswire/ — Quhuo Limited (NASDAQ: QH) (“Quhuo,” the “Company,” “we” or “our”), a leading gig economy platform focusing on local life services in China, today reported its unaudited financial results for the six months and audited financial results for full year ended December 31, 2024.

2024 marked a year of strategic transformation for Quhuo. Despite market challenges, the Company strengthened its core businesses and achieved steady gross profit margin growth in certain business lines through enhanced cost efficiencies. Quhuo also pursued innovation by forming strategic partnerships domestically and internationally, expanding its business reach. The Company further deepened its corporate social responsibility by creating employment opportunities, offering insurance and training programs, and balancing commercial success with social value.

Core Business Focus: Streamlining for Quality Growth

In 2024, Quhuo achieved total revenue of RMB 3,046.9 million and an adjusted EBITDA of RMB 9.07 million. The Company demonstrated strong performance, recording positive EBITDA for three consecutive fiscal years. Cost control efforts resulted in a 19.4% year-on-year reduction in general and administrative expenses, reflecting the Company’s continuous efforts to improve operational efficiency. Research and development expenses dropped by 13.7%, leveraging AI to reduce costs and improve efficiency, driving development while optimizing labor input. These initiatives have allocated more resources to high-potential businesses, enhancing overall profitability.

In the second half of 2024, a sharpened focus on core businesses drove significant profit gains. Gross profit margin from shared-bike maintenance and ride-hailing services increased by 15.7% and 216.9%, respectively. In vehicle export solutions, AI-powered inspections improved individual productivity, raising the gross profit margin from 1.8% to 6.2% and pushing gross profit up by 11.5% year-over-year. By restructuring operations through a proprietary booking platform, housekeeping and accommodation solutions and other services boosted full-year gross profit margin from 26.4% to 36.4%, further strengthening the foundation of overall profitability.

Global Expansion: Building New Growth Engines

Since launching its vehicle export solutions in May 2023, Quhuo International has rapidly become a key growth engine for the Company. By the end of 2024, Quhuo International had shipped over 3,500 vehicles to overseas markets and launched Carnuxt, a recognized used vehicle certification brand and service system across the Middle East, Eastern Europe, and Western Asia.

In 2024, Quhuo International leveraged its expertise in local life services to develop a “technology + resources” solution for international markets – a model that has demonstrated promising success in Azerbaijan. In September 2024, Quhuo partnered with local electric vehicle dealer Volt Auto and mobility platform Bolt to launch a joint ride-hailing operations center. Through this collaboration, Quhuo International provided cost-effective Chinese electronic vehicles, supported by its mature technology platform and operational expertise, helping enhance local ride-hailing services.

Through its SaaS platform, Quhuo enabled its partner to optimize routes, monitor vehicles, and analyze operational data, enhancing both efficiency and service quality. On the ground, Quhuo’s team provided targeted training in key areas, such as driver matching and dispatch, enhancing the operational and systematic management capabilities of local ride-hailing services.

This model enables local dealers to swiftly integrate vehicles with ride-hailing platforms, ensuring a smooth transition from sales to active deployment and accelerating vehicle turnover. The success of this approach is demonstrated by repeat orders from the partner, providing strong market validation for Quhuo’s solutions.

Looking ahead, Quhuo plans to scale this model to additional international markets, combining technology and management to drive further growth. By building a collaborative global ecosystem for vehicle exports, Quhuo aims to enhance supply chain efficiency and deliver sustainable mobility solutions, solidifying its strategic position in global operations.

Business Model Innovation: From Fulfillment to Supply Chain Empowerment

In 2024, Quhuo took an innovative approach to maximize the value of its resources network by forming a strategic partnership with NIU World, a large-scale food group in China. Leveraging its well-established on-demand food delivery network, Quhuo now provides distribution services for NIU World’s beef products, repurposing its delivery infrastructure for higher-value use and marking a shift from fulfillment service provider to supply chain enabler.

The partnership operates on an “on-demand production and real-time fulfillment” model. Once an order is placed and paid, NIU World immediately prepares the beef, cutting, packing, and cold-processing it on demand, while Quhuo delivers the orders to end customers through its on-demand delivery network.

This model significantly reduces intermediaries, alleviates inventory pressure, ensures product freshness, and improves overall supply chain efficiency. Powered by Quhuo’s proprietary Quhuo+ platform, delivery routes are optimized for accuracy, ensuring efficient alignment between capacity and demand, enabling fresh beef to reach customers just hours after slaughter.

Following a successful pilot, the model is expected to drive revenue growth in 2025, paving a new path for expansion in Quhuo’s food delivery business. Future plans include expanding this model to other highly perishable food segments, aiming to build a flexible and efficient supply chain service for the catering industry.

Integrated Value: Aligning Growth with Social Responsibility

Alongside strong business growth, Quhuo remains committed to its corporate social responsibilities. By 2024, the Company had created flexible job opportunities for over 830,000 workers, including delivery riders and cleaners, while also providing commercial insurance and vocational training.

Quhuo’s business innovations also help address pressing social issues. Its EV exports reduce tens of thousands of tons carbon emissions annually, while its direct fresh beef supply model helps reduce food waste and promote sustainable consumption. Quhuo remains committed to leveraging business innovation to address social challenges and to set a benchmark for socially responsible enterprises.

Leslie Yu, Founder, Chairman, and CEO of Quhuo, said: “In 2024, we focused on stabilizing our cash-generating businesses while scaling innovative ventures, achieving steady operations and notable improvements in key business lines. Looking ahead, we will continue to optimize resource allocation, strengthen collaborative partnership, and enhance ecosystem resilience to deliver long-term, sustainable value to shareholders and contribute meaningfully to society.”

About Quhuo Limited

Quhuo Limited (NASDAQ: QH) (“Quhuo” or the “Company”) is a leading gig economy platform focusing on local life services in China. Leveraging Quhuo+, its proprietary technology infrastructure, Quhuo is dedicated to empowering and linking workers and local life service providers and providing end-to-end operation solutions for the life service market. The Company currently provides multiple industry-tailored operational solutions, primarily including on-demand delivery solutions, mobility service solutions, housekeeping and accommodation solutions, and other services, meeting the living needs of hundreds of millions of families in the communities.

With the vision of promoting employment, stabilizing income and empowering entrepreneurship, Quhuo explores multiple scenarios to promote employment of workers, provides, among others, safety and security and vocational training to protect workers, and helps workers plan their career development paths to realize their self-worth.

Safe Harbor Statements

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 and uncertainties related to Quhuo’s abilities to (1) manage its growth and expand its operations, (2) address any or all of the risks and challenges in the future in light of its limited operating history and evolving business portfolios, (3) establish in its competitive position in the on-demand food delivery market or further diversify its solution offerings and customer portfolio, (4) maintain relationships with major customers and to find replacement customers on commercially desirable terms or in a timely manner or at all, (5) maintain relationships with existing industry customers or attract new customers, (6) attract, retain and manage workers on its platform, and (7) maintain its market shares in relation to competitors in existing markets and its success in expansion into new markets. 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 Company’s latest annual report on Form 20-F. 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.

 

Almaty and SUS ENVIRONMENT Embark on a New Chapter of Green Transformation

SHANGHAI, April 29, 2025 /PRNewswire/ — Recently, the inaugural Samarkand International Climate Forum was successfully held in Uzbekistan. The event brought together international dignitaries including the presidents of five Central Asian countries and the president of the European Council. Dr. Long Jisheng, Chairman and CEO of SUS ENVIRONMENT, was invited to deliver a speech.

In his speech, Dr. Long shared how Chinese cities achieve synergistic benefits in waste-to-energy conversion alongside economic, environmental, and social advancements through WtE technology.

“Waste-to-energy can reduce carbon emissions by replacing landfilling and fossil fuel, facilitating the development of a net-zero future.” Dr. Long emphasized. “SUS ENVIRONMENT facilitates green transformation in more countries worldwide through efficient, eco-friendly, intelligent, low-carbon, and resource-recycling technologies.”

Under a framework agreement with Almaty, Republic of Kazakhstan, SUS ENVIRONMENT will launch a 2,000-ton-per-day WtE project this year. The project will generate approximately 60 Megawatt of green electricity. SUS ENVIRONMENT will assist Almaty in increasing its waste treatment rate to 80% by 2029.

As a benchmark for Chinese environmental protection enterprises going global, SUS ENVIRONMENT’s green footprint is connecting the world at “China Speed.”  Currently, SUS ENVIRONMENT has become the largest WtE investor in Asia (excluding China, Japan, and Korea) in terms of contractual project handling capacity.

About SUS ENVIRONMENT

SUS ENVIRONMENT is the world’s largest provider of waste incineration equipment and technology, as well as one of the top three investors and operators of waste-to-energy projects (low-carbon Eco-industrial parks) globally. 

As of December 2024, SUS ENVIRONMENT has established 11 management centers worldwide, providing environmental and energy services to over 100 million people. It has invested in and constructed 89 waste-to-energy projects (low-carbon Eco-industrial parks), with a daily processing capacity nearly 120,000 tons of municipal solid waste and annual green power generation of approximately 18,000 GWh. Its equipment and technology are applied in 287 waste-to-energy plants across the world, comprising 532 incineration lines, with a daily capacity over 300,000 tons of municipal solid waste. 

* Data from the Open Data of AVP Research (Total Design Scale)

Hisense unveils HT SATURN Home Theatre Sound System to redefine immersive audio

QINGDAO, China, April 29, 2025 /PRNewswire/ — Hisense, a global leader in consumer electronics and home appliances, today unveiled the HT SATURN, a 4.1.2‑channel surround sound system featuring the exclusive “Tuned by Devialet” certification. Combining Hisense’s advanced Hi‑Concerto™ architecture with Devialet’s world‑class acoustic engineering, the HT SATURN delivers cinema‑quality audio and immersive three‑dimensional sound in any living space.

Hisense HT SATURN
Hisense HT SATURN

HT SATURN pumps out 720 W of total max power through a meticulously arranged 13‑speaker array. Four satellite units each house up‑firing speakers, tweeters, and full‑range speakers, while a standalone 6.5‑inch wireless subwoofer ensures distortion‑free bass that reverberates with authority. Together, these precision‑tuned drivers recreate every whisper of dialogue, sweeping musical score, and thunderous explosion with breathtaking clarity and impact.

Central to the HT SATURN’s performance is Hisense’s proprietary Hi‑Concerto™ Technology, which seamlessly synchronizes the system with compatible Hisense TV speakers. Support for Dolby Atmos® and DTS:X® further elevates the experience, placing audio overhead and behind the audience for true spatial immersion. By blending outputs across all connected drivers, the system can create a rich 7.1.2‑channel 3D soundstage that wraps around listeners.

HT SATURN has been co‑engineered with Devialet for unparalleled audio brilliance. Devialet’s proprietary tuning technologies deliver precise sound reproduction with optimal tonal balance, dynamic range, and depth. The result is sound that precisely reflects the creator’s intent—whether you’re lost in a blockbuster film, locked into high‑stakes gameplay, or savouring your favourite album.

Ease of integration and elegant design define the HT SATURN experience. Stable, low‑latency streaming is guaranteed by tri‑band wireless transmission (2.4 GHz, 5.2 GHz, 5.8 GHz), ensuring robust and interference-free wireless connectivity throughout your space. Bluetooth 5.3, HDMI IN,HDMI eARC, and Optical inputs offer seamless connectivity with TVs, gaming consoles, and streaming devices. Hisense’s EzPlay feature enables control of HT SATURN via the Hisense TV remote, with settings conveniently displayed on the TV screen—making it easy to adjust sound effects, EQ modes, and more in real time. The minimalist satellite modules and subwoofer may be wall‑mounted or freestanding to suit any living space.

Five preset sound modes—Standard, Movie, Music, Game, and Sport—are augmented by advanced effects such as Surround, Night, Voice, AI, and Virtual:X, allowing you to fine‑tune the auditory atmosphere to every type of content. Powered by Hisense TV’s room acoustic calibration algorithm, the intelligent room‑correction technology continuously analyses ambient acoustics, ensuring the HT SATURN delivers consistent performance in rooms of all layouts and sizes.

The Hisense HT SATURN will soon be available worldwide, with regional launch timings set by local channels. Sales kick off in June across Amazon, BestBuy US, Currys UK, M.Video Russia, and leading professional AV retailers. (*Specifications and feature availability may vary by market.)

About Hisense

Hisense, founded in 1969, is a globally recognized leader in home appliances and consumer electronics with operations in over 160 countries, specializing in delivering high-quality multimedia products, home appliances, and intelligent IT solutions. According to Omdia, Hisense ranks No. 2 worldwide in total TV shipments (2022-2024) and No. 1 globally in the 100-inch and over TV segment (2023-2024). As the first official partner of the FIFA Club World Cup 2025™, Hisense is committed to global sports partnerships as a way to connect with audiences worldwide.

Photo – https://laotiantimes.com/wp-content/uploads/2025/04/hisense_ht_saturn.jpg

From Vision to 36 Million Users: MEXC Celebrates 7 Years of Exponential Growth

VICTORIA, Seychelles, April 29, 2025 /PRNewswire/ — MEXC, a leading cryptocurrency exchange, witnessed impressive growth throughout 2024, with its global user base soaring to 36 million and trading volumes surging across the board. The platform recorded a 143% increase in Spot trading volume and a 118% jump in Futures trading volume, reflecting its rising dominance in the digital asset space. As MEXC celebrates its 7th anniversary, it has not only weathered the challenges of a highly competitive industry but has firmly positioned itself as one of the top-performing exchanges worldwide—driven by innovation, scalability, and user-first service.

From Vision to 36 Million Users: MEXC Celebrates 7 Years of Exponential Growth
From Vision to 36 Million Users: MEXC Celebrates 7 Years of Exponential Growth

Key Highlights:

  • Spot Trading Volume: +143% YoY
  • Futures Trading Volume: +118% YoY
  • Market Share: Jumped from 2.4% in 2023 to 13.06% in Q1 2025
  • User Base: Reached 36 million globally
  • Listed Assets: Over 3,000
  • Employees: Doubled to 2,000+
  • Recovered User Assets: Over $1.8 million
  • Customer Service Tickets Resolved: 1.1 million+

Unprecedented Trading Volume Growth: Dominating Market Share

MEXC has demonstrated exceptional performance in its core trading business, with remarkable growth metrics that reflect its increasing dominance in the cryptocurrency exchange landscape. According to the latest data, the platform achieved an impressive 143% growth in Spot trading volume and a substantial 118% increase in Futures trading volume over the past year.

According to TokenInsight’s industry report, MEXC’s market share surged from 2.4% in 2023 to 11.6% in 2024, and further increased to 13.06% in 2025 Q1. The CoinGecko Q1 2025 report also highlighted MEXC’s expanding market presence and growing influence in the global cryptocurrency exchange ecosystem, noting its leap into 3rd place in terms of futures trading volume.

This impressive growth is well above the industry average, showing that more and more traders are choosing MEXC for its strong trading tools. With high liquidity, low fees, and reliable performance in both Spot and Futures markets, the platform continues to attract a wide range of users—from everyday investors to major institutions.

36 Million Users and Counting: MEXC’s Global Expansion

In a testament to its expanding influence, MEXC has witnessed phenomenal user adoption over the past year. The platform welcomed an impressive number of new users, significantly expanding its ecosystem. This substantial influx has propelled the exchange to reach a cumulative user base of 36 million globally.

This rapid growth isn’t just about the numbers—it shows that millions of people and institutions are choosing to trust MEXC for its reliable infrastructure, strong security, and quality service. The platform’s success in gaining and keeping users from around the world highlights its broad appeal and the increasing trust it’s earning from crypto enthusiasts, traders, and investors everywhere.

MEXC's Global Expansion
MEXC’s Global Expansion

Strategic Organizational Expansion: Scaling with Purpose

Understanding that technological innovation is driven by human talent, MEXC has undertaken a strategic workforce expansion, nearly doubling its staff to 2,000 employees. This deliberate scaling has focused on strengthening three critical operational pillars:

1. Growth Center – A specialized division dedicated to accelerating user acquisition, enhancing platform adoption strategies, and exploring new market opportunities. This team spearheads MEXC’s expansion into emerging cryptocurrency markets while strengthening its position in established ones.

2. R&D Center – The innovation engine of MEXC, where talented engineers and developers work tirelessly to enhance the platform’s technological infrastructure, develop cutting-edge features, and implement security protocols that safeguard user assets. The R&D team’s commitment to excellence ensures that MEXC remains at the technological vanguard of the crypto exchange landscape.

3. Business Support – The operational backbone ensuring seamless platform functionality, superior customer experience, and efficient business processes. This division works behind the scenes to maintain the high standards of service that users have come to expect from MEXC.

Diverse Asset Offerings with Reward Programs

Diverse Asset Offerings with Reward Programs
Diverse Asset Offerings with Reward Programs

MEXC continues to enhance its position as a versatile and comprehensive trading platform, offering sophisticated Spot and Futures trading services that cater to both novice and experienced traders. The exchange has significantly expanded its asset portfolio to include an impressive 3,000+ listed assets, providing users with unparalleled diversity in trading options across various cryptocurrencies, tokens, and digital assets. This extensive listing strategy reflects MEXC’s commitment to offering users access to emerging projects and established cryptocurrencies alike, creating a dynamic marketplace where traders can diversify their portfolios and capitalize on market opportunities.

Complementing this diverse asset ecosystem, MEXC has implemented one of the industry’s most comprehensive reward programs, successfully orchestrating 2,293 airdrop events through its innovative token airdrop program, distributing a substantial prize pool valued at $136 million. These strategic initiatives serve multiple purposes: rewarding loyal users, incentivizing platform participation, and introducing the community to promising new projects. By consistently sharing value with its user base while maintaining robust liquidity and advanced trading infrastructure, MEXC has cultivated a culture of reciprocity and mutual growth that strengthens user loyalty and platform advocacy.

Thriving Community: Nurturing Global Connections

Thriving Community: Nurturing Global Connections
Thriving Community: Nurturing Global Connections

MEXC’s vibrant community continues to flourish across multiple social platforms, with its X account followers almost doubling to 2.25 million. This substantial social media presence amplifies the exchange’s voice in cryptocurrency discourse and facilitates direct engagement with users and stakeholders.

Complementing its social media presence, MEXC’s Telegram ecosystem has expanded to include 193,000 members across various groups, creating dynamic spaces for real-time discussions, market insights, educational content, and peer support. These community hubs foster a sense of belonging among users while serving as valuable channels for information dissemination and feedback collection.

The robust growth of MEXC’s community ecosystem reflects the platform’s success in transcending its role as a mere trading venue to become a vibrant hub for cryptocurrency enthusiasts and professionals worldwide.

Customer-Centric Service: Setting Industry Standards

MEXC’s unwavering commitment to customer satisfaction is evidenced by its responsive and resourceful customer service team, which has successfully addressed over 1.1 million customer service requests in the past year. This volume underscores both the scale of MEXC’s operations and its dedication to providing timely assistance to users navigating the complexities of cryptocurrency trading.

Beyond routine support, MEXC’s customer service team has demonstrated exceptional value by helping users recover over $1.8 million in assets that might otherwise have been lost due to user errors, technical issues, or misconceptions. This recovery effort exemplifies MEXC’s proactive approach to customer service and its genuine concern for user welfare beyond transactional relationships.

The quality and effectiveness of MEXC’s customer service infrastructure set new benchmarks for the industry, reinforcing user confidence and contributing significantly to the platform’s reputation for reliability and trustworthiness.

Looking Ahead: Charting the Course for Future Growth

Behind the impressive growth figures lies the comprehensive result of MEXC’s ongoing investment in core trading infrastructure, rapid asset listings, enhanced user experience, and region-specific strategies. MEXC has evolved from its former position as a market follower to establish itself firmly among the world’s elite cryptocurrency trading platforms, demonstrating leadership through innovation and consistent performance excellence.

As MEXC embarks on its eighth year, the exchange stands poised for continued innovation and market leadership. Built on a foundation of user trust, technological excellence, and community engagement, MEXC is strategically positioned to navigate the evolving cryptocurrency landscape.

The impressive metrics across all business areas highlight MEXC’s successful execution of its strategic roadmap and adaptability in a dynamic industry. With its proven track record and clear vision, MEXC remains committed to providing a secure, efficient platform for cryptocurrency enthusiasts worldwide, continuing to shape the future of digital finance.

About MEXC

Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto.” Serving over 36 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.

MEXC Official Website  X Telegram |How to Sign Up on MEXC

Quhuo Reports Financial Results for the Second Half and Full Year 2024

BEIJING, April 29, 2025 /PRNewswire/ — Quhuo Limited (Nasdaq: QH) (“Quhuo,” the “Company,” “we” or “our”), a leading gig economy platform focusing on local life services in China, today reported its unaudited financial results for the six months and full year ended December 31, 2024.

Financial and Operational Highlights for the Second Half of 2024

  • Net income was RMB48.1 million (US$6.6 million), representing a year-over-year increase of 311.1% from RMB11.7 million.
  • Adjusted EBITDA was RMB43.8 million (US$6.0 million), representing a year-over-year increase of 81.7% from RMB24.1 million.
  • General and administrative expenses were RMB77.8 million (US$10.7 million), representing a decrease of 24.2% from RMB102.7 million in the second half of 2023.
  • Gross profit of vehicle export solutions was RMB2.9 million (US$0.4 million), representing a year-over-year increase of 11.5% from RMB2.6 million.
  • Gross profit margin of mobility solution services was 4.6%, compared with 2.1% in the second half of 2023.
  • Gross profit margin of housekeeping services and others was 46.9%, compared with 39.2% in the second half of 2023.

Financial and Operational Highlights for Full Year 2024

  • General and administrative expenses were RMB148.6 million (US$20.4 million), representing a decrease of 19.4% from RMB184.3 million in 2023.
  • Gross profit margin of vehicle export solutions was 5.1%, compared with 1.7% in 2023.
  • Gross profit margin of housekeeping services and others was 36.4%, compared with 26.4% in 2023.

Mr. Leslie Yu, Quhuo’s Chairman and Chief Executive Officer, said, “2024 is a pivotal year for Quhuo, marking a key turning point in the progress of our strategic elevation. We are pleased to conclude that, thanks to our focus on deepening high-quality business development and driving a structural improvement in profitability, we have successfully enhanced gross profit margin across multiple business sectors. We have continuously worked on improving operational efficiency, leading to a reduction in various expenses.

Our cross-border vehicle export business became a key growth engine in 2024. Our “technology + resources” model has proven effective in regions such as the Middle East, Eastern Europe and Western Asia, where we’ve empowered local dealers and built a “vehicle procurement – local operations” ecosystem, as demonstrated in Azerbaijan. We believe this global collaboration will reduce supply chain friction and position us for international expansion, with plans underway to replicate the model in additional markets.

In our on-demand food delivery business, we entered into a strategic cooperation agreement with NIU World, a large-scale food group in China, leveraging our nationwide delivery network built over more than a decade. This partnership enables us to provide beef product distribution services- an important milestone in our continued transformation from a fulfillment service provider to a supply chain enabler. Looking ahead, we see strong potential to expand this model into other food sectors requiring high standards for ingredient preservation, offering flexible, efficient and scalable supply chain services to more businesses in the future.

In the future, we will continue optimizing operations, empowering our partners, and seizing market opportunities to deliver sustainable returns for shareholders while creating lasting value for society.”

Unaudited Financial Results of the Second Half of 2024

Total revenues were RMB1,426.9 million (US$195.5 million), compared with total revenues of RMB1,966.1 million in the second half of 2023, representing a decrease of 27.4%.

  • Revenues from on-demand food delivery solutions were RMB1,329.4 million (US$182.1 million), compared with RMB1,763.2 million in the second half of 2023, representing a decrease of 24.6%. The decrease was primarily because we optimized our business by disposing of several underperforming service stations, which led to a decrease in revenue scale.
  • Revenues from mobility service solutions, consisting of shared-bike maintenance, ride-hailing, vehicle export solutions and freight service solutions, were RMB74.7 million (US$10.2 million), compared with RMB175.3 million in the second half of 2023, representing a decrease of 57.4%. The decrease was primarily due to a decrease in units of vehicles sold in our vehicle export solution business.
  • Revenues from housekeeping and accommodation solutions and other services were RMB22.9 million (US$3.1 million), compared with RMB27.5 million in the second half of 2023, primarily due to the decrease in housekeeping services for hotels as a result of our shift of focus to other businesses.

Cost of revenues was RMB1,378.0 million (US$188.8 million), representing a year-over-year decrease of 26.2%, primarily in line with the decrease in our total revenues.

General and administrative expenses were RMB77.8 million (US$10.7 million), representing a significant decrease of 24.2% from RMB102.7 million in the second half of 2023. The decrease was primarily driven by (1) a decline in professional service fees from RMB44.5 million in the second half of 2023 to RMB22.6 million (US$3.1 million) in the second half of 2024, and (2) a reduction in welfare and business development expenses and office expenses from RMB21.4 million in the second half of 2023 to RMB16.1 million (US$2.2 million) in the second half of 2024. These savings were largely the result of our effective expense control through engagement of more cost-effective service providers, elimination of unnecessary costs and optimization of employee roles and responsibilities.

Research and development expenses remained relatively stable at RMB5.8 million (US$0.8 million) in the second half of 2024 and RMB5.7 million in the second half of 2023.

We recorded gain on disposal of assets, net, of RMB13.4 million and RMB68.2 million (US$9.3 million) in the second half of 2023 and 2024, respectively, primarily due to the transfer of certain long-term assets to third parties.

Our interest expenses were RMB1.8 million (US$0.2 million), representing a significant decrease of 30.8% from RMB2.6 million in the second half of 2023, primarily due to the decrease in in average interest rates relating to our short-term bank borrowings.

Our other income, net, was RMB0.4 million (US$0.1 million) in the second half of 2024 and RMB10.7 million in the second half of 2023 primarily due to the disposal of investment in a mutual fund.

Income tax benefit was RMB15.7 million (US$2.2 million), as compared to income tax expense of RMB1.5 million in the second half of 2023, primarily due to the reversal of unrecognized tax benefit recognized previous years that have passed the retroactive period.

Net income attributable to Quhuo Limited was RMB48.1 million (US$6.6 million), compared with net income attributable to Quhuo Limited of RMB11.7 million in the second half of 2023.

Adjusted EBITDA was RMB43.8 million (US$6.0 million), compared with adjusted EBITDA of RMB24.1 million in the second half of 2023.(1)

Adjusted net income was RMB48.1 million (US$6.6 million), compared to the adjusted net income of RMB7.4 million in the second half of 2023.(1)

Unaudited Financial Results of Full Year 2024

Total revenues were RMB3,046.9 million (US$417.4 million), a decrease of 17.7%, compared with total revenues of RMB3,702.4 million in 2023.

  • Revenues from on-demand food delivery solutions were RMB2,828.5 million (US$387.5 million), compared with RMB3,412.8 million in 2023, representing a decrease of 17.1%. The decrease was primarily due to optimization of our business by disposing of several underperforming service stations, which led to a decrease in revenue scale.
  • Revenues from mobility service solutions were RMB175.1 million (US$24.0 million), compared with RMB233.8 million in 2023, representing a decrease of 25.1%. The decrease was primarily due to the reduction in vehicles sold in our vehicle export solution business.
  • Revenues from housekeeping and accommodation solutions and other services were RMB43.2 million (US$5.9 million), compared with RMB55.7 million in 2023, primarily due to the decrease of housekeeping services for hotels as a result of our shift of focus to other businesses.

Cost of revenues was RMB2,973.2 million (US$407.3 million), representing a year-over-year decrease of 15.9%, generally in line with the decrease in our total revenues.

General and administrative expenses were RMB148.6 million (US$20.4 million) in 2024, representing a decrease of 19.4% from RMB184.3 million in 2023. This reduction was due to (1) a decrease in professional service fees from RMB66.7 million in 2023 to RMB37.2 million (US$5.1 million) in 2024, and (2) a decrease in welfare and business development expenses and office expenses from RMB38.6 million in 2023 to RMB28.4 million (US$3.9 million) in 2024. These savings reflect our expense control measures, including more cost-effective service providers, eliminating unnecessary costs, and optimizing employee roles and responsibilities.

Research and development expenses were RMB10.7 million (US$1.5 million) in 2024, representing a decrease of 13.7% from RMB12.4 million in 2023, primarily due to a lower average compensation level for our research and development personnel resulting from the restructuring of our R&D team.

We recorded gain on disposal of assets, net, of RMB22.3 million and RMB75.2 million (US$10.3 million) in 2023 and 2024, respectively, primarily due to the transfer of certain long-term assets to third parties.

Our interest expenses were RMB4.1 million (US$0.6 million), representing a decrease of 16.3% from RMB4.9 million in 2023, primarily due to the reduction in average interest rates relating to our short-term bank borrowings.

Other expense, net, was RMB2.6 million (US$0.4 million) in 2024, as compared to other income, net, of RMB16.7 million in 2023, primarily due to the fluctuation in the fair value of our investment in a mutual fund.

Income tax benefit was RMB18.3 million (US$2.5 million) in 2024, as compared to RMB0.9 million in 2023, primarily due to the reversal of unrecognized tax benefit recognized in previous years that have passed the retroactive period.

Net income attributable to Quhuo Limited was RMB1.6 million (US$0.2 million) in 2024, as compared to RMB6.0 million in 2023.

Adjusted EBITDA was RMB9.1 million (US$1.2 million) in 2024, as compared to adjusted EBITDA of RMB35.2 million in 2023.(1)

Adjusted net income was RMB1.6 million (US$0.2 million) in 2024, as compared to RMB5.5 million in 2023.(1)

(1) See “Use of Non-GAAP Financial Measures.”

Balance Sheet

As of December 31, 2024, the Company had cash, cash equivalents and restricted cash of RMB65.1 million (US$8.9 million) and short-term debt of RMB112.8 million (US$15.5 million).

CONFERENCE CALL

Quhuo will hold a conference call on Tuesday, April 29, 2025 at 8:00 a.m. U.S. Eastern Time (8:00 p.m. Beijing/Hong Kong time on the same day) to discuss the financial results.

Dial-in details for the earnings conference call are as follows:

PARTICIPANT DIAL IN (TOLL FREE):

1-888-346-8982

PARTICIPANT INTERNATIONAL DIAL IN:

1-412-902-4272

Hong Kong Toll Free:

800-905945

Hong Kong-Local Toll:

852-301-84992

Mainland China Toll Free:

4001-201203

Conference ID:

QUHUO

Please dial in ten minutes before the call is scheduled to begin and provide the conference ID to join the call.

A replay of the conference call may be accessed by phone at the following numbers until May 6, 2025:

US Toll Free:

1-877-344-7529

International Toll:

1-412-317-0088

Canada Toll Free:

855-669-9658

Replay Access Code:

8059541

Additionally, 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/.

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 its 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 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 income/loss or any other performance measures 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. For more information on this Non-GAAP financial measure, please see the table captioned “Unaudited Reconciliations of GAAP and Non-GAAP results” set forth below.

Unaudited Reconciliations of GAAP and Non-GAAP Results

For the Six Months Ended

For the Year Ended

December
31, 2023

December
31, 2024

December
31, 2024

December
31, 2023

December
31, 2024

December
31, 2024

(RMB’000)

(RMB’000)

(US$’000)

(RMB’000)

(RMB’000)

(US$’000)

Net income

11,698

48,127

6,593

6,008

1,612

221

Add: Share-based Compensation

(4,348)

(495)

Adjusted net income

7,350

48,127

6,593

5,513

1,612

221

Add: Income tax expense/(benefit)

1,468

(15,721)

(2,154)

(927)

(18,343)

(2,513)

Depreciation

2,389

1,832

251

5,316

4,508

618

Amortization

10,302

7,807

1,070

20,430

17,192

2,355

Interest

2,559

1,804

247

4,882

4,105

562

Adjusted EBITDA

24,068

43,849

6,007

35,214

9,074

1,243

EXCHANGE RATE INFORMATION

This press release contains translations of certain Renminbi amounts into U.S. dollars at a specified rate solely for readers’ convenience. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.2993 to US$1.00, the rate in effect as of December 31, 2024 as set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the Renminbi or U.S. dollar amounts referred could be converted into U.S. dollars or Renminbi, as the case may be, at any particular rate or at all.

ABOUT QUHUO LIMITED

Quhuo Limited is a leading gig economy platform focusing on local life services in China. Leveraging Quhuo+, its proprietary technology infrastructure, Quhuo is dedicated to empowering and linking workers and local life service providers and providing end-to-end operation solutions for the life service market. The Company currently provides multiple industry-tailored operational solutions, primarily including on-demand delivery solutions, mobility service solutions, housekeeping and accommodation solutions, and other services, meeting the living needs of hundreds of millions of families in the communities.

With the vision of promoting employment, stabilizing income and empowering entrepreneurship, Quhuo explores multiple scenarios to promote employment of workers, provides, among others, safety and security and vocational training to protect workers, and helps workers plan their career development paths to realize their self-worth.

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 and uncertainties related to Quhuo’s abilities to (1) manage its growth and expand its operations, (2) address any or all of the risks and challenges in the future in light of its limited operating history and evolving business portfolios, (3) remain its competitive position in the on-demand food delivery market or further diversify its solution offerings and customer portfolio, (4) maintain relationships with major customers and to find replacement customers on commercially desirable terms or in a timely manner or at all, (5) maintain relationship with existing industry customers or attract new customers, (6) attract, retain and manage workers on its platform, and (7) maintain its market shares to competitors in existing markets and its success in expansion into new markets. 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 Company’s latest annual report on Form 20-F. 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.

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

QUHUO LIMITED

UNAUDITED 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, 2023

 As of December
31, 2024

 As of December
31, 2024

(RMB)

(RMB)

(US$)

Assets

Current assets

Cash and cash equivalents

45,185

63,202

8,659

Restricted cash

1,271

1,916

262

Short-term investments

68,378

Accounts receivable, net

475,992

295,713

40,513

Prepayments and other current assets

108,354

112,044

15,348

Amounts due from a related party

253

Total current assets

699,433

472,875

64,782

Property and equipment, net

14,635

8,847

1,212

Right-of-use assets, net

6,217

4,647

637

Intangible assets, net

82,818

57,985

7,944

Goodwill

65,481

65,481

8,971

Deferred tax assets

21,968

31,548

4,322

Other non-current assets

141,384

225,643

30,913

Total non-current assets

332,503

394,151

53,999

Total assets

1,031,936

867,026

118,781

liabilities, non-controlling interests and
shareholders’ equity

Current liabilities

Accounts payable

254,099

145,777

19,971

Accrued expenses and other current
liabilities

108,132

74,269

10,175

Short-term debt

92,653

112,848

15,460

Short-term lease liabilities

3,906

2,818

386

Amounts due to a related party

1,350

185

Total current liabilities

458,790

337,062

46,177

Long-term debt

7,533

4,706

645

Long-term lease liabilities

1,434

1,635

224

Deferred tax liabilities

4,689

599

82

Other non-current liabilities

54,212

62,408

8,550

Total non-current liabilities

67,868

69,348

9,501

Total liabilities

526,658

406,410

55,678

 

 

QUHUO LIMITED

 UNAUDITED CONSOLIDATED BALANCE SHEETS

 As of December
31, 2023

 As of December
31, 2024

 As of December
31, 2024

 (RMB)

 (RMB)

 (US$)

Shareholders’ equity

Ordinary shares

43

615

84

Additional paid-in capital

1,885,142

1,839,482

252,008

Accumulated deficit

(1,376,530)

(1,373,825)

(188,214)

Accumulated other comprehensive loss

(2,466)

(1,550)

(212)

Total Quhuo Limited shareholders’
equity

506,189

464,722

63,666

Non-controlling interests

(911)

(4,106)

(563)

Total shareholders’ equity

505,278

460,616

63,103

Total liabilities and shareholders’ equity

1,031,936

867,026

118,781

 

 

QUHUO LIMITED

UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

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

For the Six Months Ended

For the Year Ended

December
31, 2023

December
31, 2024

December
31, 2024

December
31, 2023

December
31, 2024

December
31, 2024

 (RMB)

 (RMB)

 (US$)

 (RMB)

 (RMB)

 (US$)

Revenues

1,966,070

1,426,933

195,489

3,702,387

3,046,871

417,420

Cost of revenues

(1,866,263)

(1,377,966)

(188,781)

(3,535,778)

(2,973,158)

(407,321)

General and administrative

(102,725)

(77,759)

(10,653)

(184,336)

(148,627)

(20,362)

Research and development

(5,733)

(5,751)

(788)

(12,378)

(10,690)

(1,465)

Gain on disposal of intangible
assets

13,401

68,198

9,343

22,317

75,220

10,305

Operating income/(loss)

4,750

33,655

4,610

(7,788)

(10,384)

(1,423)

Interest income

305

127

17

1,047

385

53

Interest expense

(2,559)

(1,804)

(247)

(4,882)

(4,105)

(562)

Other income/(expense), net

10,670

428

59

16,704

(2,627)

(360)

Income/(loss) before income tax

13,166

32,406

4,439

5,081

(16,731)

(2,292)

Income tax (expense)/benefit

(1,468)

15,721

2,154

927

18,343

2,513

Net income

11,698

48,127

6,593

6,008

1,612

221

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

1,284

7,113

974

(2,674)

1,093

150

Net income attributable to
ordinary shareholders of the
Quhuo limited

12,982

55,240

7,567

3,334

2,705

371

Non-GAAP Financial Data

Adjusted net income

7,350

48,127

6,593

5,513

1,612

221

Adjusted EBITDA

24,068

43,849

6,007

35,214

9,074

1,243

Earnings per share for class A and class B ordinary shares

Basic

0.23

0.07

0.01

0.06

0.01

0.00

Diluted

0.23

0.07

0.01

0.06

0.01

0.00

Shares used in earnings per share computation:

Basic

55,855,737

737,267,651

737,267,651

55,534,919

416,025,918

416,025,918

Diluted

55,855,737

737,267,651

737,267,651

55,534,919

416,025,918

416,025,918

 

 

Lulu Furniture Launches Custom Wardrobe Services to Meet Growing Demand in Singapore


SINGAPORE – Media OutReach Newswire – 29 April 2025 – Lulu Furniture, a trusted name in ready-made furniture in Singapore, is proud to announce the launch of its custom wardrobe services. Building on years of success with its popular ready-made wardrobes, Lulu Furniture is now expanding its offerings to meet the increasing demand for tailor-made wardrobe solutions in Singapore homes.

Known for its commitment to quality, affordability, and modern aesthetics, Lulu Furniture has become a go-to destination for customers seeking stylish and functional home furnishings. The move into custom wardrobes marks a significant step forward for the company, reflecting its dedication to evolving with the needs of its customers.

“Our ready-made wardrobes have consistently been among the top choices for Singaporean households,” said a spokesperson from Lulu Furniture. “With more homeowners seeking personalised storage solutions that match their space and lifestyle, we believe our new custom wardrobe service will empower them to design wardrobes that are both beautiful and highly practical.”

Customers will now be able to work closely with Lulu Furniture’s in-house design team to create wardrobes tailored to their space, taste, and budget. The new service will offer flexibility in dimensions, finishes, internal configurations, and accessories — all made with the high-quality craftsmanship that Lulu Furniture is known for.

This initiative is part of Lulu Furniture’s broader mission to make designer-quality furniture accessible to every home in Singapore. The custom wardrobe line complements its existing collection of Nordic-style bed frames, bookshelves, dining tables, and office chairs, providing a complete one-stop shopping experience.

To explore the new custom wardrobe options, customers can visit the custom wardrobe page or contact Lulu Furniture’s customer service for a complimentary consultation.
Hashtag: #LuluFurniture

The issuer is solely responsible for the content of this announcement.

About Lulu Furniture

Lulu Furniture is a Singapore-based online furniture store specializing in stylish, high-quality, and affordable furniture for modern homes and offices. With a strong track record in ready-made furniture and a growing portfolio of customizable solutions, Lulu Furniture continues to serve as a trusted partner for discerning homeowners.

For more information, please visit .