Quhuo (QH) Receives Nasdaq Non-Compliance Notice Regarding Late Filing of Annual Report

Quhuo Limited (NASDAQ: QH) today announced that it received a notification letter dated May 18, 2022 from the Listing Qualifications Department of The Nasdaq Stock Market Inc., indicating that the Company is no longer in compliance with the Nasdaq Listing Rules since the Company has not yet filed its annual report on Form 20-F for the fiscal year ended December 31, 2021. Nasdaq Listing Rule 5250(c)(1) requires Nasdaq-listed companies to timely file all periodic reports.

This Notification Letter has no immediate effect on the listing of the Company’s American depositary shares on the Nasdaq Global Market. Pursuant to the Nasdaq Listing Rules, the Company has 60 calendar days from the date of the Notification Letter to submit a plan to regain compliance with Nasdaq Listing Rules (the “Compliance Plan”). If Nasdaq accepts the Compliance Plan, it may grant the Company an extension until November 14, 2022 to regain compliance. The Company expects either to file its 2021 Form 20-F or submit the Compliance Plan within the prescribed 60-day period.

As previously reported by the Company in its Notification of Late Filing on Form 12b-25, filed with the Securities and Exchange Commission (the “Commission”) on April 29, 2022, the Company was unable to file the 2021 Form 20-F within the prescribed period because the Company needs additional time to compile all the information necessary to complete its annual financial statements to be included therein. The Company failed to file the 2021 Form 20-F within the 15-day extension period prescribed by Rule 12b-25(b)(2)(ii) under the Securities Exchange Act of 1934, as amended, primarily because certain documents were not provided by third parties as scheduled. The Company currently expects to file the 2021 Form 20-F upon receipt of such third-party documents by the end of June 2022.

This announcement is made in compliance with Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification.

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