Exhibit 99.1

Quhuo Reports Financial Results for the Second Half and Full Year 2024

BEIJING, China, 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

Financial and Operational Highlights for Full Year 2024

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%.

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.

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)

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:

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:

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.

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/.

CONTACTS:

Investor Relations

Quhuo Limited

E-mail: ir@meishisong.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)

QUHUO LIMITED

 UNAUDITED CONSOLIDATED BALANCE SHEETS

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)

Exhibit 99.2

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

BEIJING, Apr. 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.

For further information:

Quhuo Limited

E-mail: pr@meishisong.cn