Quhuo Announces Change to Board of Directors

Rhea-AI Summary

Quhuo Limited (NASDAQ: QH) announced the resignation of Mr. Yung-Hung Chang from its board of directors, effective March 22, 2021. The resignation was for personal reasons and not due to disagreement over the company’s operations or financial practices. Leslie Yu, Chairman and CEO, thanked Mr. Chang for his contributions. Quhuo, recognized as the largest workforce operational solution platform in China, provides tech-enabled operational solutions in sectors like food delivery and ride-hailing, connecting businesses with skilled service workers.

Positive

• Quhuo maintains its status as the largest workforce operational solution platform in China.
• The company continues to focus on tech-enabled solutions for on-demand service sectors.

Negative

• The resignation of a board member may raise concerns about leadership continuity.

BEIJING, March 22, 2021 (GLOBE NEWSWIRE) -- Quhuo Limited (NASDAQ: QH) (“Quhuo” or the “Company”), a leading tech-enabled workforce operational solution platform in China, announced today that Mr. Yung-Hung Chang has resigned from his position as a member of the board of directors for personal reasons, effective on March 22, 2021. The resignation of Mr. Chang did not result from any disagreement with the Company on any matter relating to the Company’s business operations, financial reporting or controls, policies or practices.

Leslie Yu, Chairman and Chief Executive Officer of QUHUO, commented, “On behalf of the Board, I would like to express my sincere gratitude to Mr. Chang for his valuable contributions to Quhuo during his tenure on the Board. We wish him continued success in his future endeavors.”

About Quhuo Limited

Quhuo Limited (NASDAQ: QH) (“Quhuo” or the “Company”) was the largest workforce operational solution platform in China in 2019*. Quhuo provides tech-enabled, end-to-end operational solutions to blue-chip on-demand consumer service businesses in industries with significant e-commerce exposure, including food delivery, ride-hailing, housekeeping and bike-sharing. Quhuo’s platform helps its industry customers mobilize a large team of workers and utilizes a combination of training, performance monitoring and refinement, and incentives to transform them into skilled workers who can follow industry-specific, standardized and highly efficient service procedures. Within the on-demand consumer service ecosystem, the Company plays a unique and indispensable role as the link between consumer service businesses and the end consumers to enable the delivery of goods, services and experiences to consumers.

* According to an industry report prepared by Frost & Sullivan in 2019, as measured by the number of average monthly active workers in 2019.

For more information about Quhuo, please visit https://ir.quhuo.cn/.

For investor and media enquiries, please contact:

Quhuo Limited
Annia Sun
E-mail: ir@meishisong.cn

Christensen

In China
Mr. Eric Yuan
Phone: +86-13801110739
E-mail: Eyuan@christensenir.com

In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
E-mail: lbergkamp@christensenir.com

FAQ

What prompted the resignation of Mr. Yung-Hung Chang from Quhuo's board?

Mr. Yung-Hung Chang resigned for personal reasons.

Did Mr. Chang's resignation indicate any disagreement with Quhuo's operations?

No, his resignation did not result from any disagreement regarding the company's business operations.

Who is the current CEO of Quhuo Limited?

Leslie Yu is the Chairman and Chief Executive Officer of Quhuo Limited.

What is Quhuo's role in the workforce operational solutions market?

Quhuo provides tech-enabled solutions that connect service businesses with skilled workers in various sectors.

When did Mr. Chang's resignation take effect?

Mr. Chang's resignation took effect on March 22, 2021.