Half Year 2024 Quhuo Ltd Earnings Call Transcript
Key Points
- Quhuo Ltd (QH) achieved a total revenue of RMB1.62 billion in the first half of 2024.
- Gross margin improved to 5.6%, surpassing last year's performance.
- Mobility Services segment revenue increased by 17% year-on-year.
- Revenue from shared-bike maintenance service grew by 6.2% year-on-year, and ride-hailing service revenue increased by 47.5% year-on-year.
- International vehicle export solutions revenue increased by 389% year-on-year, exporting 815 energy vehicles overseas.
- Total revenue decreased by 6.7% from RMB1,736.3 million in the first half of 2023 to RMB1,619.9 million in the first half of 2024.
- Revenue from on-demand delivery solutions decreased by 9.1% year-on-year.
- Revenue from housekeeping and accommodation solutions decreased by 27.8% year-on-year.
- Net loss increased to RMB46.5 million in the first half of 2024 from RMB5.7 million in the first half of 2023.
- Adjusted EBITDA loss was RMB34.8 million compared to adjusted EBITDA of RMB11.1 million in the first half of 2023.
Good day, and welcome to the Quhuo's '24 H1 Earnings Conference Call. (Operator Instructions) Please note, this event is being recorded.
I would now like to turn the conference over to Qishu Wang, our Investor Relations. Please go ahead.
Thank you, operator. Hello, everyone. Welcome to Quhuo's First Half of 2024 Earnings Conference Call. The company's results were released earlier today and are available on our IR website. On this call today are Leslie Yu, Chairman and CEO; and CFO, Barry Ba.
Leslie will review business operations and company highlights followed by Barry, who will discuss financials and guidance. They will be available to answer your questions in the Q&A session that follows.
Before we begin, I would like to remind you that this call may contain forward-looking statements made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and current market and
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