BEIJING, November 4, 2022 /PRNewswire/ — Quhuo Limited (“Quhuo” or “the Company”) (Nasdaq: QH), a leading technology workforce operations solutions platform in China, today announced the appointment of Marcum Asia CPAs LLP (“MarcumAsia”) as the Company’s registered independent public accounting firm, effective October 31, 2022. On the same day, the Company terminated Ernst & Young Hua Ming LLP (“EY”). The change of independent auditor of the Company was made after a careful review and evaluation process and was approved by the audit committee (the “Audit Committee”) of the Board of Directors (the ” board”) and the board.
EY’s audit reports on the Company’s consolidated financial statements for the years ended December 31, 2021 and 2020 did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, the scope of the audit or accounting principles.
During the audit of the financial years ended December 31, 2021 and 2020 and the subsequent interim period up to October 31, 2022there has not been (i) a disagreement, as defined in item 16F(a)(1)(iv) of Form 20-F and related instructions, between the Company and EY on a matter of principle or accounting practices, financial statement disclosure, or audit scope or procedure, the disagreements of which, if not resolved to EY’s satisfaction, would have caused EY to refer to the subject of disagreements in connection with its reports on the consolidated financial statements, or (ii) reportable events as defined in Section 16F(a)(1)(v) of Form 20-F other than weakness material disclosed in our 2020 Annual Report on Form 20-F filed with the United States Securities and Exchange of Commission (the “SEC”) at May 17, 2021in particular, the material weakness identified in December 31, 2020 was the Company’s lack of accounting and finance personnel with the required knowledge and experience in the application of US GAAP and SEC rules. The Audit Committee has discussed the above reportable event with EY. EY is authorized to respond fully to inquiries from MarcumAsia about the Reportable Event.
During the last two financial years of the Company ended December 31, 2021 and 2020 and any subsequent interim period prior to MarcumAsia’s engagement on October 31, 2022neither the Company nor anyone on its behalf has consulted MarcumAsia on (a) the application of accounting principles to any specific transaction, whether completed or proposed, or the type of audit opinion that might be issued on the consolidated financial statements of the Company, and neither a written report nor oral advice has been provided to the Company by MarcumAsia that MarcumAsia has concluded is an important factor considered by the Company in making a decision as to any accounting, auditing, or financial reporting matter, or (b) any matter that was the subject of a disagreement, as that term is defined in Item 16F(a)(1)(iv) of Form 20-F (and related instructions) or a reportable event as set forth in Item 16F(a)(1)(v) of Form 20-F.
The company is working closely with MarcumAsia and EY to ensure a smooth transition. The Company takes this opportunity to express its sincere gratitude to the EY team for its professionalism and the quality of the services provided to the Company over the past few years.
Quhuo Limited (NASDAQ: QH) (“Quhuo” or the “Company”) is a leading workforce operations solutions platform in China. Quhuo provides end-to-end technology-based operational solutions primarily to consumer service companies, including on-demand delivery solutions, mobility service solutions, housekeeping solutions and other services. Quhuo’s platform helps its industry clients mobilize a large team of workers who can follow industry-specific, standardized and highly efficient service procedures through a combination of training, monitoring and skills development. performance and incentives.
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SOURCE Quhuo Limited