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

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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.

 

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SOURCE Quhuo Limited

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Mouser Electronics Explores How Artificial Intelligence Shapes Everyday Technologies and Experiences

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SHANGHAI, April 20, 2026 /PRNewswire/ — Mouser Electronics, Inc., the authorized global distributor with the newest electronic components and industrial automation products, today announced the first 2026 installment of its Empowering Innovation Together (EIT) technology series, Engineering AI for Daily Life. This installment explores how artificial intelligence is increasingly embedded in everyday products and services, from assisted search and messaging tools to healthcare wearables that monitor personal well-being. As AI capabilities expand across consumer and connected devices, engineers continue to design systems that make these technologies more useful, intuitive, and trustworthy in real-world applications.

“AI is quickly moving from experimental technology into products people rely on every day, and engineers play a major role in shaping how it’s applied,” said Jeff Newell, President of Mouser Electronics. “As AI becomes embedded across consumer devices and connected systems, it’s important that these technologies are designed to support human expertise while remaining reliable and trustworthy. This EIT segment helps engineers explore the tools and insights they need to build the next generation of AI-enabled solutions.”

As AI agents and intelligent tools become integrated into homes, connected devices, and digital services, engineers are developing systems that enhance user judgment and keep users in control while maintaining transparency and privacy. New AI-powered platforms already demonstrate this potential – turning simple conversations into complete travel itineraries or providing deeper health insights through connected devices.

On The Tech Between Us podcast, Raymond Yin, Director of Technical Content at Mouser Electronics, and Dr. Marisa Tschopp, Senior Researcher at scip AG in Zurich, examine the new role of AI in human interaction and day-to-day experiences. They explore how AI advancements shape technology-enabled collaboration, including the long-term impact of daily integration and applications for mental health.

“AI is moving beyond experimental settings into the products people rely on every day,” said Yin. “Our first EIT navigates the next era in AI innovation, looking at how to use the technology to enhance people’s abilities and rethink how we can live for the better.”

In addition to the podcast, the EIT series includes an in-depth video, technical articles, a topic-related infographic, as well as subscriber-exclusive content, diving into everyday AI. By examining the range of cases where AI can level up technical expertise, engineers can build a class of tools to help reshape how people think, decide, and create while protecting privacy and control.

Established in 2015, Mouser’s Empowering Innovation Together program is one of the electronic component industry’s most recognized educational programs. To learn more, visit https://www.mouser.com/empowering-innovation/engineering-ai-daily/ and follow Mouser on Facebook, LinkedIn, X, and YouTube.

For more Mouser news and our latest new product introductions, visit https://www.mouser.com/newsroom/.

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SOURCE Mouser Electronics

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The Global Economy Could Split in Very Different Directions by 2050

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Research from the BCG Henderson Institute Details Four Plausible Scenarios for the World over the Next 25 Years, Based on Analysis of More Than 100 Megatrends and a Century of Historical Data

BOSTON, April 20, 2026 /PRNewswire/ — The global economy could follow markedly different paths over the next 25 years. For business leaders, the challenge is how to make decisions today while preparing for a wide range of possible futures.

New Scenarios 2050 research from the BCG Henderson Institute (BHI), Boston Consulting Group’s think tank, anticipates four distinct futures that push boundaries but remain plausible. The report explores what each scenario could mean for businesses and how early signals may indicate which direction the world is heading.

Among the findings:

Global GDP growth could slow to about 1.8% or rise to 5.0% annually, with the economy reaching anywhere from 1.6 to 3.4 times today’s size.Global trade could fall to about 35% of GDP—roughly Cold War–era levels—or remain near current levels of about 60%.Defense spending could climb to as much as 7% of global GDP.Low-carbon electricity could account for 55% to 90% of power generation.

The report, Beyond Tomorrow: Four Scenarios for the World of 2050, is based on a century of historical data and analysis of more than 100 megatrends across technology, geopolitics, climate, society, and economics.

“The decisions made in the next 5 years will shape the next 25,” said Nikolaus Lang, global leader of the BCG Henderson Institute and a coauthor of the report. “Too often, the future is framed in extremes—either collapse or abundance. In reality, leaders need to be ready for a range of outcomes and make decisions that hold up across very different conditions.”

Four Plausible Futures Leaders Should Plan For

Each scenario presents a different operating environment for businesses, reflecting the range of conditions leaders may face.

Scenario 1: AI Abundance. Global cooperation on AI standards leads to faster productivity growth, wider access to technology, and abundant low-carbon energy:

Global GDP more than triples, growing by about 5% annually from 2025 to 2050—the highest level across BHI’s four plausible scenarios.Average working hours fall by about 25%, with four- or even three-day workweeks becoming common in some regions.AI-supported advances in new materials and carbon removal put the world on a delayed but credible path to net zero emissions.

Scenario 2: Battling Blocs. Geopolitical tensions divide the world into competing blocs, reducing cooperation and reshaping global trade:

Global trade falls to about 35% of global GDP, down from 57% in 2024—reversing decades of globalization.Defense spending rises to about 7% of global GDP, the highest across BHI’s four scenarios, as countries prioritize security and self-sufficiency.Global GDP growth slows to about 1.8% annually, the lowest across the four scenarios, underpinned by government spending on national security, pensions, and climate mitigation.

Scenario 3: Climate Coalition. A series of extreme weather events in the late 2020s push governments, industries, and consumers to prioritize climate resilience, accelerating the shift to low-carbon energy and infrastructure:

Global warming stabilizes at about 1.8°C.Carbon markets expand globally, with most major economies participating by 2040.The share of fossil fuels in the energy mix falls from 81% today to 35% in 2050, while electricity is generated almost entirely from low-carbon sources.Global GDP growth averages about 2.5% annually, reflecting a focus on the climate transition, slower population growth, and aging societies.

Scenario 4: Digital Darwinism. Rapid technological progress continues under limited regulation, driving strong growth while concentrating wealth and power among leading companies and tech-rich nations:

Global GDP grows at 4% per year, resulting in a near tripling of GDP.The richest 1% holds nearly half of global wealth, while the middle class continues to shrink.Gig-style and short-term contract work expands as AI and automation displace routine knowledge work.Defense spending rises to about 4% of GDP, up from 2.4% in 2024, as the global order becomes more fragmented. At the same time, global trade and supply chains remain open, driven by commercial interests.

What Leaders Can Do Now

 Across all four scenarios, the report highlights “low regret” moves that make sense for business leaders today, including:

Enhance structural resilience. Rebalance toward resilience over efficiency to maintain operations in a more volatile environment.Reimagine talent for aging populations and AI. Build strategies for intergenerational work, more flexible roles, and talent mobility—and recruit more widely, especially from emerging labor markets.Build digital flexibility and trust. Take a modular approach to tech and data stacks that accounts for rapidly changing technologies.Sharpen sensing and influencing capabilities. Develop sensing capacities along dimensions like regulation, geopolitics, resources, and technology. Build the capability to act on them quickly.Embrace a broader societal role. Prepare to shoulder more responsibility for workers’ well-being, local resilience, crisis management, and community needs.

“No one can predict exactly what 2050 will look like, but the forces shaping it are already visible,” said Alan Iny, a partner and director at BCG, a BCG Henderson Institute Fellow, and a coauthor of the report. “Planning for a single future is a gamble. The advantage will go to leaders who prepare for multiple futures and act to shape them before the direction of the world is clear.”

Download the publication here: https://www.bcg.com/publications/2026/beyond-tomorrow-four-scenarios-for-the-world-of-2050

Media Contact:                            
Eric Gregoire
+1 617 850 3783
gregoire.eric@bcg.com

About the BCG Henderson Institute
The BCG Henderson Institute is Boston Consulting Group’s strategy think tank, dedicated to exploring and developing valuable new insights from business, technology, and science by embracing the powerful technology of ideas. The Institute engages leaders in provocative discussion and experimentation to expand the boundaries of business theory and practice and to translate innovative ideas from within and beyond business. For more ideas and inspiration from the Institute, please visit our website and follow us on LinkedIn and X (formerly Twitter).

About Boston Consulting Group
Boston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. BCG was the pioneer in business strategy when it was founded in 1963. Today, we work closely with clients to embrace a transformational approach aimed at benefiting all stakeholders—empowering organizations to grow, build sustainable competitive advantage, and drive positive societal impact.

Our diverse, global teams bring deep industry and functional expertise and a range of perspectives that question the status quo and spark change. BCG delivers solutions through leading-edge management consulting, technology and design, and corporate and digital ventures. We work in a uniquely collaborative model across the firm and throughout all levels of the client organization, fueled by the goal of helping our clients thrive and enabling them to make the world a better place.

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SOURCE Boston Consulting Group (BCG)

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DEKRA Korea to Acquire Global Product Service, Strengthening Consumer Electronics Testing and Certification Capabilities in Korea

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GIMHAE-SI, South Korea, April 20, 2026 /PRNewswire/ — DEKRA, a leading global provider of testing, inspection, and certification services, today announced it has signed a definitive agreement to acquire Global Product Service Co., Ltd (GPS), a prominent South Korean company renowned for its expertise in consumer electronics product testing and certification.

This strategic acquisition will significantly enhance DEKRA Korea’s capabilities within the rapidly growing consumer electronics sector, bringing together DEKRA’s global network and comprehensive service portfolio with GPS’s deep-rooted local knowledge and decades of experience serving South Korea’s leading manufacturers.

GPS has established a strong reputation for its in-depth technical expertise and unwavering commitment to quality, particularly within the consumer electronics market. For many years, GPS has been a trusted partner to major South Korean electronics companies, providing testing and certification services that ensure product safety, performance, and compliance with international standards.

The successful acquisition is a result of the strong collaboration and commitment from both DEKRA and GPS. Key representatives who participated in the signing, embodying this collaboration, were Dr. Kilian Aviles, Executive Vice President of DEKRA Group and Head of Asia Pacific Region; Ming Sheng, Vice President of Automotive Testing, DEKRA China; Young Seok Lee, CEO of Global Product Service Co., Ltd; and Seong Su Kim, Director of Global Product Service Co., Ltd.

“We are thrilled to welcome Global Product Service Co., Ltd to the DEKRA family,” said Dr. Kilian Aviles, Executive Vice President of DEKRA Group and Head of Asia Pacific Region. “This acquisition represents a significant milestone in our growth strategy in South Korea. GPS’s deep understanding of the local market, combined with their specialized expertise in consumer electronics, perfectly complements DEKRA’s global strengths. Together, we will offer unparalleled testing and certification solutions to our clients, empowering them to bring innovative and reliable products to market with greater speed and confidence.”

The integration of GPS into DEKRA Korea will leverage synergies in technology, talent, and market reach. This will enable DEKRA to further support South Korean manufacturers as they navigate complex global regulatory landscapes and strive for excellence in product development and quality assurance. Clients can expect a seamless transition and continued access to the high-quality services they have come to rely on from both organizations.

Young Seok Lee, CEO of Global Product Service Co., Ltd commented, “Joining forces with DEKRA is an exciting opportunity for GPS. DEKRA’s global reach and extensive resources will allow us to expand our service offerings and better serve our existing and future clients. We are confident that this partnership will create significant value for the South Korean consumer electronics industry, providing enhanced support and innovation.”

About DEKRA

For more than 100 years, DEKRA has been a trusted name in safety. Founded in 1925 with the original goal of improving road safety through vehicle inspections, DEKRA has grown to become the world’s largest independent, non-listed expert organization in the field of testing, inspection, and certification. Today, as a global partner, the company supports its customers with comprehensive services and solutions to drive safety and sustainability forward—fully aligned with DEKRA’s anniversary motto, “Securing the Future.” In 2024, DEKRA generated revenue of 4.3 billion euros. Around 48,000 employees are providing qualified and independent expert services in approximately 60 countries across five continents. DEKRA holds a Platinum rating from EcoVadis, placing it among the top 1% of the world’s most sustainable companies.

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SOURCE DEKRA Asia Pacific

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