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Quhuo’s Homestay Sector Reports Impressive Performance During Labor Day Holiday with Sales Surge Year-on-Year

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BEIJING, June 28, 2024 /PRNewswire/ — Quhuo Limited (NASDAQ: QH) ( “Quhuo” or the “Company”), a leading gig economy platform focusing on local life services in China, reported significant performance improvements in its homestay sector during the 2024 Labor Day holiday. Its homestay sector operated by Chengtu Home (“Chengtu”), achieved an average occupancy rate of 79%, with sales increasing by 45% year-over-year. On the busiest day, the occupancy rate peaked at 88%, and sales surged by 31% from the previous year.

In recent years, as the domestic tourism sector rebounds, homestays have become an increasingly popular lodging choice. Statistics from China’s Ministry of Culture and Tourism show that domestic travel hit 295 million trips during the 2024 Labor Day holiday, up 7.6% year-on-year. Additionally, according to the Annual Report on Homestay in China (2023-2024), the first 10 months of 2023 saw a dramatic rise in new homestay businesses, with 76,000 new establishments representing a 149% growth over the prior year. This surge reflects the growing investor and consumer interest in the homestay sector.

In response to the booming homestay market, Chengtu is leading the way with its “professional, digital, and detailed” operational approach, striving to set the industry standard. To ensure a safe, clean, and comfortable stay, Chengtu has established and enforces stringent standards. By implementing smart locks and a self-service check-in system, the security and convenience of the accommodations have been enhanced. Each room is thoroughly cleaned and fresh linens are provided for every arrival, ensuring a pristine environment. Additionally, all bedding meets luxury hotel standards, elevating the overall customer experience.

Chengtu has established its own dedicated, professional housekeeping team to maintain high service standards. All housekeepers undergo specialized training and must pass thorough assessments before they begin their roles, adhering to strict guidelines for promotions and dismissals. Chengtu has standardized cleaning procedures for each stage of vacancy, occupancy and post-departure. After cleaning, a video is recorded to document the room condition, and regular inspections are conducted to ensure that properties remain clean until the end of the contract.

Chengtu also pays close attention to the finer details to ensure guests feel right at home. Before guests arrive, Chengtu customizes the room settings based on their preferences, from themed decorations to personalized elements. Guests expressed how touched they were to find welcoming details like a chalkboard with personalized greetings or even hand-drawn portraits based on their social media profiles. These thoughtful details exemplify Chengtu’s warm and individualized approach to hospitality.

Chengtu now spans 130 cities across the country, offering diverse lodging options from apartments to villas. Chengtu provides rooms for families, long-term renters, and business travelers, along with private areas ideal for group events. Additionally, Chengtu actively promotes rural development, launching collaborative homestay projects in tourist cities such as Wuqing in Tianjin and Beidaihe in Qinhuangdao. These projects, known as ‘Chengtu Rural Residence,’ involve partnerships with nearly 120 local residences.

Tong Ji, the General Manager of Chengtu, said, “The impressive results over the Labor Day holiday highlight Chengtu’s outstanding operational performance. By offering a diverse range of lodging choices and providing professional, detailed service, Chengtu consistently elevates the customer experience. Looking ahead, Chengtu remains committed to delivering safe, warm, and comfortable accommodations meeting consumer demands.”

Leslie Yu, Founder, Chairman, and CEO of Quhuo, stated, “Chengtu’s stellar performance confirms Quhuo’s strategy focusing on local life services. With tourism rebounding and the homestay market expanding rapidly, Chengtu is committed to refining its services to provide customers with richer and superior travel experiences. In the future, Chengtu will continue to innovate and explore new methods to solidify its market presence and promote the sustainable growth of the homestay sector.”

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) remain 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, as well as the development of the COVID-19 pandemic and its impact on Quhuo’s business and industry. 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 final prospectus related to the IPO filed with the SEC on July 10, 2020 and 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.

 

View original content:https://www.prnewswire.com/news-releases/quhuos-homestay-sector-reports-impressive-performance-during-labor-day-holiday-with-sales-surge-year-on-year-302184333.html

SOURCE Quhuo Limited

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Nagarro releases audited FY 2024 and unaudited Q1 2025 results, confirms existing guidance for 2025

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32 minutes ago

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May 15, 2025

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MUNICH, May 15, 2025 /PRNewswire/ — Nagarro, a global digital engineering leader, today announced its audited financial numbers for its full year ended December 31, 2024, and its unaudited financial numbers for the three months ended March 31, 2025. The Management Board and the Supervisory Board will propose to the Annual General Meeting a dividend of €1 per share.

Manas Human, Co-founder, said, “We are pleased to announce our robust results and confirm that we remain confident in our existing guidance for 2025. We have several growth and maturity initiatives now in motion, and we are excited about their potential to lift our trajectory in the months to come.”

2024 results

Revenue grew to €972.0 million in 2024, up from €912.1 million in 2023, a YoY growth of 6.6%. The constant currency growth in annual revenue was 7.2%. Gross profit grew to €295.8 million (as per the current method) and €253.9 million (as per the previous method) in 2024 from €235.7 million (as per the previous method) in 2023. As per the previous method, gross margin was 26.1% in 2024 compared to 25.8% in 2023. Adjusted EBITDA grew to €147.5 million in 2024 from €126.1 million in 2023. Adjusted EBITDA margin grew to 15.2% in 2024, up from 13.8% in 2023. EBITDA grew to €134.1 million in 2024 from €118.6 million in 2023. EBIT grew to €96.7 million in 2024 from €83.2 million in 2023. Net profit remained at €49.2 million in 2024, as in 2023. The number of clients doing more than €1 million in annual revenue with Nagarro rose from 181 in 2023 to 186 in 2024.

Operating cash flow grew to €86.5 million in 2024 from €79.7 million in 2023. Factoring utilization under the non-recourse factoring program was reduced by €3.5 million in 2024. Days of sales outstanding, calculated based on the quarterly revenue and including both contract assets and trade receivables, increased from 84 days on December 31, 2023, to 88 days on December 31, 2024.  

Nagarro’s cash balance at the end of 2024 was €192.6 million as against €110.1 million at the end of 2023. Nagarro’s loans and borrowings at the end of 2024 were €329.6 million as against €274.7 million at the end of 2023. The company reported 17,695 professionals as of December 31, 2024.

The Management Board and Supervisory Board will, for the first time, propose to the Annual General Meeting the distribution of a dividend of €1.00 per share. The proposed dividend marks an important milestone and underlines the company’s long-term value creation strategy.

As part of its commitment to strong corporate governance, the company will propose to the Annual General Meeting to expand the Supervisory Board. The newly proposed candidates – Martin Enderle, Hans-Paul Bürkner, and Jack Clemons – bring deep expertise in digital transformation, platform scaling, professional services, and finance and accounting. The company will also propose to reinstate Carl Georg Dürschmidt as a board member.

Q1 2025 results

Revenue grew to €246.9 million in 3M 2025, against €238.3 million in 3M 2024, a YoY growth of 3.6%. Gross profit was €75.5 million in 3M 2025, against €73.6 million in 3M 2024. Gross margin was 30.6% in 3M 2025, against 30.9% in 3M 2024. Adjusted EBITDA was €30.2 million in 3M 2025, against €39.2 million in 3M 2024. EBITDA was €33.0 million in 3M 2025, against €36.0 million in 3M 2024. EBIT was €24.1 million in 3M 2025, against €26.6 million in 3M 2024. Net profit was €11.2 million in 3M 2025, against €16.6 million in 3M 2024. The number of clients doing more than €1 million in annual revenue in the last 12 months with Nagarro rose from 181 on March 31, 2024, to 186 on March 31, 2025.

Operating cash flow grew to €29.8 million in 3M 2025, against €25.9 million in 3M 2024. Factoring utilization under the non-recourse factoring program was reduced by €6.7 million in 3M 2025 from December 31, 2024. Days of sales outstanding, calculated based on the quarterly revenue and including both contract assets and trade receivables, reduced to 81 days on March 31, 2025, from 88 days on December 31, 2024.

Nagarro’s cash balance at the end of March 31, 2025, was €162.2 million as against €192.6 million at the end of December 31, 2024. Nagarro’s loans and borrowings at the end of March 31, 2025, were €302.5 million as against €329.6 million at the end of 2024. The company reported 17,496 professionals as of March 31, 2025.

The summarized table for the twelve month period ended December 31, 2024, is as follows:

2024

2023

Growth

mEUR

mEUR

Revenue

972.0

912.1

6.6% YoY

7.2% YoY in constant currency

Gross profit (current method)

295.8

–

Gross profit (previous method)

253.9

235.7

7.7% YoY

Gross margin (current method)

30.4 %

–

Gross margin (previous method)

26.1 %

25.8 %

Adjusted EBITDA

147.5

126.1

16.9% YoY

Adjusted EBITDA margin

15.2 %

13.8 %

EBITDA

134.1

118.6

13.1% YoY

EBIT

96.7

83.2

16.3% YoY

Net profit

49.2

49.2

 

The summarized table for the three month period ended March 31, 2025, is as follows:

Q1

Q1

2025

2024

Growth

mEUR

mEUR

Revenue

246.9

238.3

3.6% YoY

2.4% YoY in constant currency

Gross profit

75.5

73.6

2.6% YoY

Gross margin

30.6 %

30.9 %

Adjusted EBITDA

30.2

39.2

Negative 22.8% YoY

Adjusted EBITDA margin

12.2 %

16.4 %

EBITDA

33.0

36.0

Negative 8.2% YoY

EBIT

24.1

26.6

Negative 9.5% YoY

Net profit

11.2

16.6

Negative 32.2% YoY

Nagarro SE will hold its analyst and investors meeting as a video call to discuss FY 2024 and Q1 2025 on May 15, 2025, at 1:00 pm CEST (4:00 am PT / 6:00 am CT / 7:00 am ET / 12:00 pm BST / 3:00 pm GST / 4:30 pm IST / 7:00 pm SGT / 8:00 pm JST).

 Nagarro SE will hold its retail investors call to discuss FY 2024 and Q1 2025 on May 15, 2025, at 2:30 pm CEST (5:30 am PT / 7:30 am CT / 8:30 am ET / 1:30 pm BST / 4:30 pm GST / 6:00 pm IST / 8:30 pm SGT / 9:30 pm JST).

To attend, please register in advance at https://www.nagarro.com/en/investor-relations/quarterly-statement-call-q1-2025 

About Nagarro

Nagarro, a global digital engineering leader, helps clients become fluidic, innovative, digital-first companies and thus win in their markets. The company is distinguished by its entrepreneurial, agile, and global character, its CARING mindset, and its Fluidic Enterprise vision. Nagarro employs around 17,500 people in 39 countries. For more information, please visit www.nagarro.com.

(FRA: NA9) (ISIN DE000A3H2200, WKN A3H220)

For inquiries, please contact press@nagarro.com.

Logo: https://mma.prnewswire.com/media/844192/3850575/Nagarro_Logo.jpg 

 

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SOURCE Nagarro Software Private Limited

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Tianma introducing new AMOLED display technologies at Display Week 2025

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32 minutes ago

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May 15, 2025

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Tianma, a leading global manufacturer of flat panel displays, is exhibiting its family of AMOLED technologies and solutions at Display Week 2025, Booth #416, San Jose, California, May 13-15.

SAN JOSE, Calif., May 15, 2025 /PRNewswire-PRWeb/ — Tianma, a leading global manufacturer of flat panel displays, is exhibiting its family of AMOLED technologies and solutions at Display Week 2025, Booth #416, San Jose, California, May 13-15. Tianma is introducing the following AMOLED products:

6.51″ HOI – This display – the world’s first three-in-one photosensitive functional screen – is equipped with Tianma’s self-developed HOI (Hybrid Optoelectronic Integration) technology. This HOI technology incorporates three essential functions through its innovative embedded sensor design: fingerprint recognition, ambient light and color temperature sensing, and OLED emitter monitoring. Compared to traditional fingerprint solutions, our display offers a larger sensing area and faster recognition speed, significantly enhancing the user experience. The integrated ambient light and color temperature sensor continuously monitors environmental lighting conditions, allowing the system’s SoC to dynamically adjust display parameters for optimal visual comfort in real time. Additionally, the OLED emitter monitoring function tracks brightness data and leverages intelligent compensation algorithms to ensure consistently high display performance throughout the product’s lifecycle.

6.67″ Switchable Privacy Display – Based on Tianma’s own switchable privacy display technology, this module allows for independent switching between share and privacy display modes to cater to users’ needs for rapid sharing/privacy switching in different application scenarios. The process that allows for switchable privacy is built into the AMOLED construction, using a black matrix in the pixel definition layer (PDL), combined with a novel structure at the subpixel level. In share mode, it offers clearer and brighter picture quality along with a wide viewing angle. When switched to privacy mode, the viewing angle is narrowed, eliminating users’ concerns about screen information leakage and safeguarding their privacy.

6.78″ New Fluorescent Tech AMOLED Display – This 6.78-inch AMOLED display utilizes Tianma’s own Fluorescent materials innovation: a New Fluorescent Blue (NFB), and a Phosphor-Sensitized Fluorescent (PSF) green AMOLED. Combining these techniques allows the device to achieve an internal quantum efficiency (IQE) approaching the theoretical limit. This technique overcomes traditional technology limitations through an innovative approach to emissive OLED materials driving the next generation of ultra-efficient displays. These new materials enable the latest evolution of AMOLED devices with richer colors, reduced power consumption, and extended lifetimes.

More information about the innovative new display solutions being displayed by Tianma is available at Booth 416 at Display Week and in the Tianma press kits, accessible online at usa.tianma.com/press

Additional information can be found at usa.tianma.com.

About Tianma America, Inc.

Tianma America (TMA) is the leading provider of small- to medium-size display solutions to the Americas market utilizing advanced technologies and manufacturing resources of the Tianma Group Companies, which includes R&D and manufacturing locations in Chengdu, Wuhan, Xiamen, Wuhu, Shenzhen and Shanghai China. Tianma America technologies can be found in automotive cockpit and rear seat entertainment devices, smartphones, tablet PCs, industrial and medical instrumentation, wearables, home automation, household appliances, and office equipment. Additional applications include test and measurement systems, instrumentation equipment, point-of-sale and ATM systems, gaming systems, global positioning systems, radio-frequency identification devices and barcode scanners.

Tianma America’s technology portfolio comprises: Micro-LED; a-Si, LTPS and Oxide-TFT LCD; rigid, flexible and transparent AM-OLED; 3D, PCAP and In-cell/On-cell integrated touch. With a network of best-in-class distributors and value-added partners, Tianma America provides complete display module solutions for a broad base of customers and applications. For more information, visit us at usa.tianma.com or connect with us on LinkedIn.

The content in this press release, including, but not limited to, product prices and specifications, is based on the information as of the date indicated on the document, but may be subject to change without prior notice.

Media Contact

Dale Maunu, Tianma America, Inc., 1 (408) 816-7003, Dale.Maunu@tianma.com, usa.tianma.com

Bill Maurer, Macrovision, 1 215-348-1010, bill@macrovis.com, www.macrovis.com

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SOURCE Tianma America, Inc.

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KuCoin EU CEO Oliver Stauber Champions Trust and Innovation at HODL Summit 2025

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32 minutes ago

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May 15, 2025

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VICTORIA, Seychelles, May 15, 2025 /CNW/ — KuCoin, a leading global cryptocurrency exchange, proudly participated in the HODL Summit 2025, held on May 14-15 in Dubai. Oliver Stauber, CEO of KuCoin EU, joined distinguished panelists Gracy Chen, CEO of Bitget, Nils Andersen-Röed, Global Head of FIU at Binance, and moderator Nic Watson, Host of Encrypted Podcast, to discuss “Crypto‘s Trust Crisis: Navigating Security, Innovation & Adoption Post-Hacks.” During the panel, Oliver emphasized KuCoin’s commitment to security and trust, highlighting the industry’s resilience and unity in the face of challenges.

Strengthening Crypto‘s Foundation

“Innovation drives growth, but trust secures the future,” Oliver stated. “Security is the bedrock of KuCoin’s operations, paired with sustainable growth as our guiding principle.” KuCoin balances rapid global expansion with user asset safety through a focus on compliance and cutting-edge technology. The exchange has invested heavily in rebuilding its core systems, ensuring technical excellence and scalability for the long term.

Industry Unity and Resilience

During the panel, Oliver contrasted the crypto industry’s response to security challenges with the 2008 financial crisis. “When Lehman Brothers collapsed, trust among banks evaporated, leading to years of suffering for clients and the broader economy,” he said. “In contrast, when hacks occur in crypto, industry leaders collaborate swiftly. This unity ensures no user or the market as a whole suffers long-term damage, fostering trust from both users and the market.”

Rebuilding for a Secure Future

Oliver shared KuCoin’s proactive approach to security, noting that over the past years, the exchange has undertaken a comprehensive rebuild of its core systems. This initiative focuses on enhancing security protocols, improving scalability, and ensuring reliability to meet the demands of its growing user base while maintaining the highest standards of asset protection. These efforts reflect KuCoin’s commitment to staying ahead of threats and delivering a robust platform for its 40 million users worldwide.

Building Trust in the Crypto Ecosystem

“Exchanges are the backbone of crypto‘s future, built on transparency and trust. Our ISO 27001:2022 certification is a testament to our unwavering commitment to security,” Oliver asserted. KuCoin reinforces reliability with maintaining over 100% Proof of Reserves audited monthly by a third party, SOC 2 Type II certification, and the newly earned ISO 27001:2022 certification, announced May 13, 2025, as part of its efforts to build a more secure and trustworthy crypto ecosystem. Further, KuCoin recently announced its $2 billion Trust Project, aiming to set new benchmarks for security and compliance.

With five global regulatory licenses in hand, KuCoin plans to launch compliant platforms in Europe and Australia by late 2025, while expanding the KCS ecosystem to deliver greater value to its global community.

About KuCoin

Founded in 2017, KuCoin is one of the pioneering and most globally recognized technology platforms supporting digital economies, built on a robust foundation of cutting-edge blockchain infrastructure, liquidity solutions, and exceptional user experience. With a connected user base exceeding 40 million worldwide, KuCoin offers comprehensive digital asset solutions across wallets, trading, wealth management, payments, research, ventures, and AI-powered bots.

KuCoin has garnered accolades such as “Best Crypto Apps & Exchanges” by Forbes and has been recognized among the “Top 50 Global Unicorns” by Hurun in 2024. This recognition reflects its commitment to user-centric principles and core values, which include integrity, accountability, collaboration, and a relentless pursuit of excellence. Learn more: https://www.kucoin.com/. 

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/kucoin-eu-ceo-oliver-stauber-champions-trust-and-innovation-at-hodl-summit-2025-302456369.html

SOURCE KuCoin

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