| Condensed Financial Information of the Parent Company |
27.Condensed Financial Information of the Parent Company The following is the condensed financial information of the parent Company on a parent company only basis. Condensed balance sheets | | | | | | | | | As of December 31, | | | 2023 | | 2024 | | 2024 | | | RMB | | RMB | | US$ | Assets: | | | | | | | Current assets | | | | | | | Cash | | 424 | | 839 | | 115 | Short-term investments | | 68,378 | | — | | — | Inter-group balance due from VIE, WFOE and subsidiaries | | 93,704 | | 120,885 | | 16,561 | Total current assets | | 162,506 | | 121,724 | | 16,676 | Non-current assets | | | | | | | Investments in subsidiaries, VIE and VIE’s subsidiaries | | 346,076 | | 359,662 | | 49,273 | Total non-current assets | | 346,076 | | 359,662 | | 49,273 | Total Assets | | 508,582 | | 481,386 | | 65,949 | Liabilities: | | | | | | | Other Liabilities | | 1,001 | | 16,664 | | 2,283 | Total Liabilities | | 1,001 | | 16,664 | | 2,283 | Shareholders’ equity: | | | | | | | Ordinary shares (US$0.0001 par value; 300,000,000 and 3,000,000,000 Class A ordinary shares authorized, 55,379,583 and 890,653,509 shares issued, and 55,379,583 and 890,653,509 shares outstanding as of December 31, 2023 and 2024, respectively; 6,296,630 and 6,296,630 Class B ordinary shares authorized, issued and outstanding as of December 31, 2023 and 2024, respectively; 193,703,370 and 890,653,509 shares (undesignated) authorized, nil and nil shares (undesignated) issued and outstanding as of December 31, 2023 and 2024, respectively) | | 43 | | 615 | | 84 | Additional paid-in capital | | 1,885,142 | | 1,839,482 | | 252,008 | Accumulated deficit | | (1,376,530) | | (1,373,825) | | (188,214) | Accumulated other comprehensive loss | | (2,466) | | (1,550) | | (212) | Total Quhuo Group Limited’s Equity | | 506,189 | | 464,722 | | 63,666 | Non-controlling interests | | 1,392 | | — | | — | Total shareholders’ equity | | 507,581 | | 464,722 | | 63,666 | Total liabilities and shareholders’ equity | | 508,582 | | 481,386 | | 65,949 |
27.Condensed Financial Information of the Parent Company (continued) Condensed statements of comprehensive loss | | | | | | | | | | | For the year ended December 31, | | | 2022 | | 2023 | | 2024 | | 2024 | | | RMB | | RMB | | RMB | | US$ | Revenues | | — | | — | | 1,439 | | 197 | Cost of revenues | | — | | — | | — | | — | General and administrative | | (8,722) | | (9,929) | | (7,364) | | (1,008) | Foreign exchange loss | | (5) | | — | | — | | — | Other (loss)/income, net | | (49,664) | | 5,396 | | (6,895) | | (945) | Share of gain in subsidiaries, the VIE and the VIE’ subsidiaries | | 45,261 | | 7,867 | | 15,525 | | 2,127 | (Loss)/income before income tax | | (13,130) | | 3,334 | | 2,705 | | 371 | Income tax expenses | | — | | — | | — | | — | Net (loss)/income attributable to ordinary shareholders | | (13,130) | | 3,334 | | 2,705 | | 371 | Comprehensive (loss)/income | | (13,130) | | 3,334 | | 2,705 | | 371 |
Condensed statements of cash flows | | | | | | | | | | | For the year ended December 31, | | | 2022 | | 2023 | | 2024 | | 2024 | | | RMB | | RMB | | RMB | | US$ | Net (loss)/income | | (13,130) | | 3,334 | | 2,705 | | 371 | Share of loss in subsidiaries, VIE and VIE’s Subsidiaries | | (45,261) | | (7,867) | | (15,525) | | (2,127) | Share-based compensation | | 19,762 | | 2,655 | | — | | — | Other income/(loss), net | | 49,664 | | (5,396) | | 6,895 | | 945 | Provision for other receivables | | — | | — | | — | | — | Unrealized foreign exchange gain | | (627) | | (210) | | (12) | | (2) | Changes in operating assets and liabilities | | (18,072) | | (1,025) | | 6,486 | | 888 | Net cash (used in)/provided by operating activities | | (7,664) | | (8,509) | | 549 | | 75 | Net cash provided by investing activities | | 5,582 | | 1,420 | | 876 | | 120 | Net cash provided by/(used in) financing activities | | — | | 146 | | (1,022) | | (140) | Effect of exchange rate changes on cash | | 627 | | 210 | | 12 | | 2 | Net (decrease)/increase in cash | | (1,455) | | (6,733) | | 415 | | 57 | Cash at beginning of the year | | 8,612 | | 7,157 | | 424 | | 58 | Cash at end of the year | | 7,157 | | 424 | | 839 | | 115 |
27.Condensed Financial Information of the Parent Company (continued) Basis of presentation The condensed financial information of the parent company has been prepared using the same accounting policies as set out in the Company’s consolidated financial statements except that the parent company used the equity method to account for investment in its subsidiaries and VIE. The parent company records its investment in its subsidiaries, the VIE and subsidiaries of the VIE under the equity method of accounting as prescribed in ASC 323, Investments-Equity Method and Joint Ventures. Such investments are presented on the condensed balance sheets as “Investment in subsidiaries, VIE and VIE’s subsidiaries” and their respective loss as “Share of loss in subsidiaries, VIE and VIE’s subsidiaries” on the condensed statements of loss. Equity method accounting ceases when the carrying amount of the investment, including any additional financial support, in a subsidiary, the VIE and subsidiaries of the VIE is reduced to zero unless the parent company has guaranteed obligations of the subsidiary, the VIE and subsidiaries of the VIE or is otherwise committed to provide further financial support. If the subsidiary, the VIE and subsidiaries of the VIE subsequently reports net income, the parent company shall resume applying the equity method only after its share of that net income equals the share of net losses not recognized during the period the equity method was suspended. The parent company’s condensed financial statements should be read in conjunction with the Company’s consolidated financial statements.
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