Quhuo Expects Robust Growth In 1H23; FY22 Margins Expand On Solid Business Development Strategy

Quhuo Ltd's QH revenue for FY22 fell 5.1% Y/Y to $553.9 million, primarily due to the decrease in delivery orders.
Revenues for the year's second half slumped 10.5% to $283.7 million.
Gross profit for FY22 increased 43.9% year-over-year to $36.6 million, while gross margin expanded by 220 basis points to 6.6%, driven by the company's effective business development strategy.
Quhuo turned its adjusted net loss of RMB(122.3) million in 2021 to an adjusted net income of RMB3.3 million ($0.5 million) in 2022.
Operating income was RMB35.6 million, compared to an operating loss of RMB(139.8) million in 2021.
Quhuo plans to explore integrating the chatbot model trained by AI, which has recently gained significant attention, into the B&B vertical business.
The company expects to experience robust growth in the first half of 2023, reflecting the anticipated macro environment of post-COVID-19 recovery and restored tourism consumption.
Price Action: QH shares are trading lower by 2.52% at $1.6085 on the last check Friday.

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