The shares of Quhuo Limited (QH) are climbing on the charts today, trading at $3.18 at last check, up 8.16%. QH stock fell -1.67% to close at $2.94 on Monday. The QH stock fluctuated between $2.7556 and $2.975 during the trading session. In the past five sessions, QH stock gained 6.91%, and over the past month, it has moved -26.50%, but year-to-date it has lost -61.01%. The 50-day moving average of QH stock is $3.72, while the 200-day moving average is $6.10. In addition, the QH stock is currently trading at a RSI of 39.66. An agreement for strategic collaboration has led to QH stock rising.
What deal has QH Stock made?
QH Stock became China’s largest platform for workforce operations in 2019. On-demand consumer service companies rely on QH for sophisticated technology-enabled solutions, including on-demand food delivery, ride-hailing, housecleaning, and bike-sharing in industries with significant e-commerce exposure. Using QH’s platform, its customers can mobilize a large team of workers, train, monitor, refine, and incentivize them into skillful workers who can follow industry-specific, standardized, and highly efficient service procedures.
The hospitality services-focused subsidiary of QH Stock, Lailai Information Technology (Shenzhen) Co., Ltd. (“Lailai”), has formed a comprehensive strategic partnership with Gemeite Technology Co., Ltd. (“Gemeite”).
- With the signing of the contract, QH Stock subsidiary will enable effective employability and facilitate manpower deployment for property management services.
- This co-operation marks QH’s shift from B2B to 2-Family (B2F), reflecting its diverse business approach.
- Both parties will develop a brand of community service with the objective to become the leading property management company serving communities, while supporting China’s rising flexible employment trend.
- Lailai CEO Luo Haizhou and Gemeite General Manager Yan Zheheng signed the agreement at the company’s Shenzhen headquarters.
- A community household service system will be established by QH Stock and Gemeite in collaboration with property management companies, called Laizhenge, that will take advantage of QH’s extensive workforce platform, well-designed employment management software, and customized services.
- Over 10 million households are expected to be served by the two companies, which have served business platforms such as Changcheng Property.
- Two of the country’s biggest gig economies, Tianjin and Changsha, are currently taking part in the partnership.
Why did QH sign the partnership?
There is a demand for more workforce in the real estate industry, but there is a shortage of manpower to match. Market growth is impeded and owners of properties experience inconvenience due to the lack of standardized property management services.
The hospitality arm of Quhuo (QH) offers a range of services centralized under a single roof, such as housekeeping, maintenance, cleaning, and so on. This will enable individual communities to save time and money on services. Residents and owners have access to a variety of service providers through the QH platform, and can enjoy reliable, transparent, and best-in-class solutions.
