Quhuo Limited Q2 FY2021 earnings call

• Total revenue grew by 81% year-over-year and almost reached RMB one billion. All three main business lines saw robust growth. - On-demand delivery business: Revenues maintained healthy growth, served 1,205 business vocabs across 139 cities, and average monthly delivered orders were 45 million, up 85% year-over-year. - Housekeeping solutions: Revenues up 67% sequentially, hotel housekeeping orders in June up 120% from prior quarter, B&B room services up 250% from prior quarter, launched proprietary PMS. - Mobility business: Revenues up 337% year-over-year and 50% quarter-over-quarter, orders grew ~60% from prior quarter. - Progress of multi-scenario deployment initiative: Aimed to offer workers better flexibility and resource optimization, cumulative 17,700 workers engaged in more job types, riders with monthly income ≥ RMB 5000 accounted for 54% in Q2. - Strategic cooperation with Gemeite Ink Technology to expand services to family units.

1. On-demand delivery business: In Q2, revenues reached RMB 942 million, up 74% year-over-year. The average monthly delivered orders were 45 million, up 85% year-over-year. It is the biggest revenue contributor. 2. Housekeeping solutions: Revenues in Q2 sustained rapid growth, increasing 67% sequentially to RMB 21.8 million. 3. Mobility business: Revenues increased by 337% year-over-year and 50% quarter-over-quarter to RMB 26 million.

• For the third quarter of 2021, expect total revenues to be in the range of 1.1 billion to 1.2 billion, representing an increase of 43% to 56% year-over-year.

• Forward-looking statements are based on current expectations and market conditions, and there are known or unknown risks, uncertainties, and other factors that may cause actual results to differ materially from forward-looking statements. Further information regarding risks is in the company's filings with the U.S. Securities and Exchange Commission.

Q: About multi-scenario deployment, how many cities are in now and which services are workers doing?

A: There are 2 types of multi-scenario deployment. For example, riders do different works at different times, housekeeping workers do different cleaning works at different times. Also working with Gemeite Technology to expand services to family units.

Q: Average order value on the food delivery side?

A: In Q2, the average revenue of orders is 7 RMB.

Q: Estimated TAM of housekeeping and mobility segments?

A: Housekeeping market is very large, including household unit needs. Mobility services include multiple modes, market is upgrading rapidly