Quhuo reports revenue surge from vehicle exports
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Quhuo Limited, a gig economy platform in China, has reported a significant surge in revenues from its vehicle export solutions. For the second half of 2023, vehicle export revenues reached RMB 142.5 million, accounting for 81.3% of the revenue from mobility solution services and contributing to a year-over-year increase of 239.6%. The full-year figures were equally strong, with vehicle export revenues reaching RMB 154.5 million, representing 66.1% of mobility solution services revenue and marking a year-over-year increase of 116.4%. Quhuo's net income for the latter half of the year was RMB 11.7 million, up 15.0% from the previous year, and for the entire year, the net income was RMB 6.0 million, a significant improvement from a net loss of RMB 16.4 million in 2022. The company's Chairman and CEO, Mr. Leslie Yu, expressed satisfaction with the fiscal year's strong financial and operational results, highlighting the strategic expansion into vehicle export solutions and SaaS+ services as part of the company's growth curve and profitability enhancement strategy initiated in 2021. Quhuo aims to leverage China's manufacturing capabilities and its expertise in internet operation and last-mile delivery to expand its global footprint and capture emerging opportunities.

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https://www.investing.com/news/stock-market-news/quhuo-reports-revenue-surge-from-vehicle-exports-93CH-3363312