| 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$0.0001 par value; 300,000,000 and 3,000,000,000 Class A ordinary shares authorized, 55,379,583 and 890,653,509 shares issued, and 55,379,583 and 890,653,509 shares outstanding as of December 31, 2023 and 2024, respectively; 6,296,630 and 6,296,630 Class B ordinary shares authorized, issued and outstanding as of December 31, 2023 and 2024, respectively; 193,703,370 and 890,653,509 shares (undesignated) authorized, nil and nil shares (undesignated) issued and outstanding as of December 31, 2023 and 2024, respectively) | | 43 | | 615 | | 84 | Additional paid-in capital | | 1,885,142 | | 1,839,482 | | 252,008 | Accumulated deficit | | (1,376,530) | | (1,373,825) | | (188,214) | Accumulated other comprehensive loss | | (2,466) | | (1,550) | | (212) | Total Quhuo Group Limited’s Equity | | 506,189 | | 464,722 | | 63,666 | Non-controlling interests | | 1,392 | | — | | — | Total shareholders’ equity | | 507,581 | | 464,722 | | 63,666 | Total liabilities and shareholders’ equity | | 508,582 | | 481,386 | | 65,949 |
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| Condensed statements of comprehensive loss |
| | | | | | | | | | | For the year ended December 31, | | | 2022 | | 2023 | | 2024 | | 2024 | | | RMB | | RMB | | RMB | | US$ | 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 |
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| 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 |
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