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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 .

Renaissance College Hong Kong Students Design Iconic Hong Kong Tram in Collaboration with Tramplus


HONG KONG SAR – Media OutReach Newswire – 29 April 2025 – ESF Renaissance College Hong Kong (RCHK) is proud to announce an exciting collaboration with Tramplus, a sister company of HK Tramways, to redesign the interior and exterior of an iconic Hong Kong tram. This unique project showcases the opportunities connecting the exceptional talent of RCHK Visual Arts students and VA Scholars to provide them with a valuable chance to contribute to the city’s vibrant cultural landscape. Hong Kong-inspired elements like Cantonese cuisine and landmarks, with reference to culture, like Chinese Opera, are part of a vibrant design that will be featured on a Hong Kong tram.

Renaissance College Hong Kong Students Design Iconic Hong Kong Tram in Collaboration with Tramplus

This collaboration with Tramplus builds on RCHK’s commitment to providing young artists with enriching opportunities in the Visual Arts, like the ESF-wide pioneering Photography Programme, as part of IB Career-related Programme (IBCP), or collaborations with street artists, which included mural painting with TAKA. RCHK is always looking for ways to expose students to different forms of artistic expression.

The newly designed tram will be unveiled at a launch ceremony, which is open to the media, at the Whitty Street Tram Depot on May 2nd, 2025, at 10am. The one-hour ceremony will introduce student artists behind the project and feature speeches, including representatives from ESF, such as ESF CEO, Ms. Belinda Greer, RCHK Principal, Dr. Harry Brown, and Head of Visual Arts at RCHK, Mr. Andrew Deakin. Following the ceremony, attendees will have the opportunity to ride the designed tram. The tram will then operate across Hong Kong Island for four weeks.

“This collaboration with Tramplus builds on RCHK’s commitment to providing students with enriching opportunities in the Visual Arts. We are proud of the way they have come together as a team to showcase our creativity and how they have brought art to the public”, says Andrew Deakin, Head of Visual Arts at RCHK. “Our art students utilise many skills they have been learning over the years, including the coordination of the finer details, which are part of this project. It is a unique opportunity for the students to make a lasting contribution to Hong Kong’s cultural heritage and to see their artwork come to life in such a public and impactful way.”

Hashtag: #RCHK #Education #VisualArts #CityArt #HongKong #Tram #DingDing #Expression #Event #Students #SecondarySchool #Scholar #Collaboration #Opportunity #ESF

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

About ESF Renaissance College Hong Kong:

, a student-centred independent school founded by the English Schools Foundation (ESF) in 2006, serves the local and expatriate communities. Offering all four International Baccalaureate (IB) programmes (PYP, MYP, DP, CP), RCHK provides a through-train education for students aged 5-18. With over 2,000 students representing 40+ nationalities, RCHK celebrates its diverse community, where English is the language of instruction. Students benefit from rich Education Outside of the Classroom (EOTC) and Creative, Action, Service (CAS) programmes, fostering real-world learning and community engagement. RCHK’s Red Door Centre, a state-of-the-art technology hub, provides 1:1 devices (iPads Years 1-3, MacBooks Years 4-13), robotics equipment, and modern fabrication facilities, integrating technology across the curriculum. Wellbeing is paramount at RCHK, with strategies in place to ensure every child feels known and supported. The College also offers scholarships for driven and ambitious secondary students and financial aid (Youth Empowerment Scheme) to promote inclusivity.

Changemakers Program Gains Traction as Hang Lung Partners with Tenants in Vibrant Sustainability Community

Enhanced Changemakers Program and LVMH Group collaboration drive momentum for shared ESG commitment


HONG KONG SAR and SHANGHAI, CHINA – Media OutReach Newswire – 29 April 2025 – Hang Lung Properties Limited (SEHK stock code: 00101) (the “Company” or “Hang Lung”) is scaling up its collaborative efforts with tenants in reducing energy use and waste, advancing circularity, and improving community wellbeing.

Participants gathered at the Changemakers Tenant Sustainability Awards 2025 in Hong Kong, joining Hang Lung executives Mr. John Haffner, Deputy Director – Sustainability (third from the left in the front row), Miss Helen Lau, Deputy Director – Hong Kong Business Operation (fifth from the left in the front row) and guest speaker Prof. Loh (fourth from the left in the front row)
Participants gathered at the Changemakers Tenant Sustainability Awards 2025 in Hong Kong, joining Hang Lung executives Mr. John Haffner, Deputy Director – Sustainability (third from the left in the front row), Miss Helen Lau, Deputy Director – Hong Kong Business Operation (fifth from the left in the front row) and guest speaker Prof. Loh (fourth from the left in the front row)

Leading the industry shift towards shared responsibility for sustainability, Hang Lung fosters collaboration through its Changemakers: Tenant Partnerships on Sustainability Program (the “Changemakers Program”), which completed a successful pilot year in 2024. The program was inspired by the Company’s pioneering sustainability partnership with LVMH Moët Hennessy Louis Vuitton (“LVMH Group”), launched in 2022. To date, Hang Lung has collaborated with 49 tenants from various sectors – including office, retail, and hospitality – across 17 properties in Hong Kong and mainland China, totaling over 220,500 square meters of leased floor area or 11% of Hang Lung’s leasable floor area.

At the Changemakers Tenant Sustainability Award 2025 in Shanghai, participants interacted with Hang Lung executives including Mr. Derek Pang, Senior Director – Mainland Business Operation (seventh from the left in the second row), Mr. John Haffner, Deputy Director – Sustainability (seventh from the left in the top row) and guest speaker Mr. Linden (sixth from the left in the top row)
At the Changemakers Tenant Sustainability Award 2025 in Shanghai, participants interacted with Hang Lung executives including Mr. Derek Pang, Senior Director – Mainland Business Operation (seventh from the left in the second row), Mr. John Haffner, Deputy Director – Sustainability (seventh from the left in the top row) and guest speaker Mr. Linden (sixth from the left in the top row)

Building on insights from early adopters such as AEON Stores (Hong Kong) Co., Limited, Credit Agricole CIB (China) Limited, Decathlon Hong Kong, Longchamp, Qeelin, Siemens Ltd., China Shenyang Branch, Standard Chartered Bank (Hong Kong) Limited, and Tam Jai International Co. Limited, Hang Lung has enhanced the Changemakers Program for greater impact and engagement, including offering tenants access to a comprehensive energy and carbon management platform. This solution provides tenants with real-time energy consumption analytics across their leased spaces, delivering data-driven, actionable insights to enhance energy efficiency, support sustainability goals, and optimize operational performance. The Changemakers Program also continues to deliver best practice sharing and benchmarking with peers, capacity-building resources, and hands-on support from Hang Lung, including technical services and volunteering opportunities.

“Underpinning all our sustainability efforts is a belief in the power of collective action. Our tenants are essential partners in both business and sustainability, and Hang Lung is proud to join forces with them in pursuit of meaningful impacts for the environment and society,” Mr. Adriel Chan, Chair of Hang Lung Properties and Chair of the Sustainability Steering Committee, said. “Collaborating with tenants to reduce carbon is also one of our key actions on our pathway to net zero emissions by 2050.”

At the recent Changemakers Tenant Sustainability Awards 2025 held in Hong Kong, the community celebrated the accomplishments of tenants from the first year of the Changemakers Program, and invited leading tenants to share their innovative practices with others.

Professor Christine Loh, Chief Development Strategist, Institute for the Environment at The Hong Kong University of Science and Technology, said, “Hang Lung’s approach highlights the value of partnerships. We know what we need to do; we just need to keep working together and learning from one another.”

Professor Christine Loh, Chief Development Strategist, Institute for the Environment at The Hong Kong University of Science and Technology, championed partnership during a panel discussion with sustainability leaders at the Changemakers Tenant Sustainability Awards 2025 in Hong Kong
Professor Christine Loh, Chief Development Strategist, Institute for the Environment at The Hong Kong University of Science and Technology, championed partnership during a panel discussion with sustainability leaders at the Changemakers Tenant Sustainability Awards 2025 in Hong Kong

Speaking to Changemakers Program awardees at the Shanghai ceremony, Mr. Brian Linden, Co-founder of The Linden Center and author of Redefining Diplomacy: One Village at a Time, said, “To be truly effective, any sustainability initiative must go beyond the purely physical, and adopt a more holistic approach. This means incorporating social and cultural traditions to deepen the connection with and involvement from the local community. The Changemakers Program is also cultivating this approach – driving innovation through fostering collaboration and community.”

Mr. Brian Linden, Co-founder of The Linden Center, encouraged winning tenants at the Changemakers Tenant Sustainability Awards 2025 in Shanghai to embrace sustainable business models and thus achieve an ever-expanding positive impact
Mr. Brian Linden, Co-founder of The Linden Center, encouraged winning tenants at the Changemakers Tenant Sustainability Awards 2025 in Shanghai to embrace sustainable business models and thus achieve an ever-expanding positive impact

Whether tenants are just starting on their sustainability journey, or ready to lead, the Changemakers Program offers a path for collaboration, impact, and recognition. For more information, please email Sustainability@HangLung.com.

Note to Editors:

Tenants can opt to participate at either the Foundational or Advanced level of the Changemakers Program, joining a vibrant sustainability community that supports shared learning and measurable action. Hang Lung office, retail, and hospitality tenants already making an impact as early adopters under the Program include:

List of tenants and awards – Changemakers Tenant Sustainability Awards 2025

Hong Kong
Foundational Awards
AEON Lai Chi Kok Store – AquaMarine Gyu-Kaku Buffet – Grand Plaza
AEON STYLE Mong Kok – Gala Place TamJai SamGor Mixian – Kornhill Plaza
AEON STYLE Kornhill – Kornhill Plaza TamJai Yunnan Mixian – Amoy Plaza
Decathlon Hong Kong – Grand Plaza Standard Chartered Bank (Hong Kong) Limited – Standard Chartered Bank Building
Gyu-Kaku – Kornhill Plaza UPS Parcel Delivery Service Ltd. – 9 Wing Hong Street
Advanced Awards
Centre for Asian Philanthropy and Society Limited – Shui On Centre Mott 32 – Standard Chartered Bank Building
Cuisine Continental (HK) Ltd. – alfafa – Kornhill Plaza
Special Mention
Centre for Asian Philanthropy and Society Limited – Shui On Centre Kabushikigaisha Limited – Gyu-Kaku – Kornhill Plaza and Gyu-Kaku Buffet – Grand Plaza
Decathlon Hong Kong – Grand Plaza Mott 32 – Standard Chartered Bank Building
Mainland China
Foundational Awards
Credit Agricole CIB (China) Limited – Plaza 66, Shanghai Longchamp – Olympia 66, Dalian
KPMG China – Plaza 66, Shanghai Longchamp – Spring City 66, Kunming
Longchamp – Grand Gateway 66, Shanghai MUFG Bank (China), Ltd. – Center 66, Wuxi
Longchamp – Heartland 66, Wuhan Taikang Life Insurance Co., Ltd. Hubei Branch – Heartland 66, Wuhan
Advanced Awards
ANTA – Grand Gateway 66, Shanghai Qeelin – Grand Gateway 66, Shanghai
Conrad Shenyang – Forum 66, Shenyang Qeelin – Plaza 66, Shanghai
HSBC China Wuxi branch – Center 66, Wuxi Siemens Ltd., China Shenyang Branch – Forum 66, Shenyang
Special Mention
ANTA – Grand Gateway 66, Shanghai Credit Agricole CIB (China) Limited – Plaza 66, Shanghai
Conrad Shenyang – Forum 66, Shenyang HSBC China Wuxi branch – Center 66, Wuxi



Hashtag: #HangLungProperties

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

About Hang Lung Properties

Hang Lung Properties Limited (SEHK stock code: 00101) creates compelling spaces that enrich lives. Headquartered in Hong Kong, Hang Lung Properties develops and manages a diversified portfolio of world-class properties in Hong Kong and the nine Mainland cities of Shanghai, Shenyang, Jinan, Wuxi, Tianjin, Dalian, Kunming, Wuhan and Hangzhou. With its luxury positioning under the “66” brand, the company’s Mainland portfolio has established its leading position as the “Pulse of the City”. Hang Lung Properties is also recognized for leading the way in enhancing sustainability initiatives in the real estate industry, all the while pursuing sustainable growth by connecting customers and communities.
At Hang Lung Properties – We Do It Well.
For more information, please visit .

Laos Pauses Importer-Exporter System for Necessary Upgrades

(Photo: N&H General Trading Co.LTD)

The Ministry of Industry and Commerce has announced the temporary closure and upgrade of the Importer-Exporter Registration and Management System for goods and services.

Laos, China, Cambodia Launch Direct Cross-Border Transport Route

Cross-border transport route linking Laos, China, Cambodia. Kunming, Chian. 27 April 2025. (Photo: CCTV)

A new direct cross-border transport route connecting Laos, China and Cambodia has been officially launched to enhance regional transportation efficiency.

On 27 April, the Greater Mekong Subregion (GMS) direct cross-border transport route officially began operations, with vehicles departing from Kunming in Southwest China on their inaugural journey. The route passes through Vientiane Capital before terminating at Phnom Penh, Cambodia.

The route implements advanced smart logistics technologies and a “one container (truck) to the end” approach, which removes the necessity for cargo transfers or unpacking during transit. 

When compared with traditional methods, this new system is projected to decrease travel time from approximately 13 days to just 6-8 days, representing a 40 percent efficiency improvement, while also substantially reducing the risk of goods being damaged during cross-border shipping.

The route serves as an advancement in regional connectivity under the GMS Cross-Border Transport Facilitation Agreement, which includes six nations sharing the Mekong River basin, including China, Cambodia, Laos, Myanmar, Thailand, and Vietnam.

The Department of Transport in Yunnan has revealed intentions to continue expanding the cross-border logistics network and introduce additional international routes within the GMS framework to strengthen supply chain cooperation and promote high-quality economic development throughout the region.

Dusit Hotels and Resorts expands presence in Vietnam, opens luxury Dusit Le Palais Tu Hoa Hanoi on the banks of West Lake

Located in Hanoi’s historic Tay Ho district, the hotel draws inspiration from the life of Princess Từ Hoa and her enduring legacy of artistry, cultural exchange, and community upliftment.


BANGKOK, THAILAND – Media OutReach Newswire – 29 April 2025 – Dusit Hotels and Resorts, the hotel arm of Dusit International, one of Thailand’s leading hotel and property development companies, has announced the upcoming opening of Dusit Le Palais Tu Hoa Hanoi – a refined urban sanctuary set to welcome guests from 9 May 2025 in the heart of the Vietnamese capital.

Set to open on 9 May 2025, Dusit Le Palais Tu Hoa Hanoi is located on the tranquil shores of West Lake.
Set to open on 9 May 2025, Dusit Le Palais Tu Hoa Hanoi is located on the tranquil shores of West Lake.

Marking Dusit’s debut in Hanoi, and its second managed hotel in Vietnam following the success of Dusit Princess Moonrise Beach Resort Phu Quoc, the new property brings Dusit’s signature Thai-inspired gracious hospitality to the tranquil shores of West Lake, offering an elegant blend of modern luxury and timeless Vietnamese charm.

Inspired by the legacy of Princess Từ Hoa, a royal figure celebrated for her pioneering contributions to the silk industry in the Nghi Tàm area near West Lake, the hotel captures the spirit of craftsmanship, community, and cultural pride that defines the neighbourhood.

A daughter of Emperor Lý Thần Tông, who reigned from 1128 to 1138, Princess Từ Hoa famously left the royal court to cultivate mulberry trees and teach silk weaving to the local people. Her legacy lives on in the area’s continued association with quality craftsmanship – and now, in the design and spirit of Dusit Le Palais Tu Hoa Hanoi, where traditional elegance is thoughtfully reimagined for the modern era.

Comprising 207 beautifully appointed rooms and suites with panoramic views of the lake or city skyline, the hotel has been designed as a serene retreat for business and leisure travellers alike. Each space combines contemporary comfort with subtle Vietnamese detailing, all enhanced by the intuitive service and warm hospitality for which Dusit is known.

Guests can enjoy a curated collection of dining experiences celebrating both local and international flavours. Soi Restaurant showcases bold and authentic Thai cuisine, while Vinci Italian Restaurant and Rooftop Bar offers refined Italian fare alongside sweeping views of the city. Phở Lụa presents a cosy al fresco setting dedicated to Vietnam’s beloved noodle soup, and Dusit Gourmet provides an inviting space for artisanal pastries, afternoon tea, and freshly brewed coffee. The hotel also features four private dining rooms designed for exclusive gatherings and VIP occasions.

Alongside a fully equipped gym and spaces for wellness activities, the hotel also offers three elegant ballrooms and a rooftop event space with spectacular views over West Lake – ideal for weddings, corporate functions, and social celebrations.

“We are honoured to expand our presence in Vietnam and bring Dusit’s distinctive Thai-inspired gracious hospitality to Hanoi for the very first time,” said Gilles Cretallaz, Chief Operating Officer, Dusit International. “Inspired by the remarkable legacy of Princess Từ Hoa, Dusit Le Palais Tu Hoa Hanoi is much more than a new hotel—it is a celebration of cultural heritage, artistic spirit, and heartfelt service. By seamlessly blending the elegance of Vietnamese tradition with the warmth of Thai hospitality, we aim to create enriching experiences that resonate deeply with our guests and foster meaningful connections with the local community.”

Conveniently located on Au Co Street, just 20 minutes by car from Noi Bai International Airport, Dusit Le Palais Tu Hoa Hanoi provides easy access to many of the city’s cultural landmarks and attractions.

To celebrate its opening, the hotel is offering a special Princess’ Welcome package exclusively for Dusit Gold members. Benefits include exclusive rates, a bespoke welcome drink, daily breakfast for two at Soi Restaurant, early check-in, late check-out, and a complimentary room upgrade (subject to availability), plus up to 25% off dining.

Dusit Gold membership is free and available online at dusit.com/enrollment. Members enjoy a wide range of year-round privileges at participating Dusit Hotels and Resorts worldwide.

For reservations and enquiries, please visit dusit.com/dphv or contact dphv@dusit.com.

Hashtag: #dusitinternational #DusitLePalaisTuHoaHanoi

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

About Dusit Hotels and Resorts

is the hotel arm of Dusit International, one of Thailand’s leading hotel and property development companies. With a heartfelt belief and commitment to introducing Thai-inspired gracious hospitality to the world, Dusit Hotels and Resorts offers guests a uniquely special stay in high-style surroundings and a personalised approach to service. The group’s portfolio of hotels, resorts and luxury villas includes close to 300 properties operating under a total of eight brands (Devarana – Dusit Retreats, Dusit Thani, Dusit Suites, Dusit Collection, dusitD2, Dusit Princess, ASAI Hotels, and Elite Havens) across 18 countries worldwide.

For more information, please visit

About Dusit International

Established in 1948, or Dusit Thani Public Company Limited (DUSIT) is a leading hospitality group listed on the Stock Exchange of Thailand. Its operations comprise five distinct yet complementary business units: Dusit Hotels and Resorts, Dusit Hospitality Education, Dusit Foods, Dusit Estate, and Hospitality-Related Services.

Dusit Internationals diversified investments in real estate development, hospitality-related services, and the food sector are part of its long-term strategy for sustainable growth, which focuses on three key areas: balance, expansion and diversification.

For more information, please visit