Quhuo Limited (NasdaqGM:QH) agree to acquire remaining 45.78% stake in Lailai Information Technology (Shenzhen) Co., Ltd. for CNY 68.7 million on January 5, 2022. According to the Agreement, the Company agreed to issue 9,000,000 Class A ordinary shares of the Company (“Consideration Shares”) to the selling shareholder of Lailai under a private placement pursuant to an exemption or exclusion from the registration requirements under the Securities Act of 1933. The Consideration Shares will be subject to relevant restrictions on transfer.

The parties expect to close the transaction in the first quarter of 2022, subject to the relevant corporate approvals and customary closing conditions. Upon completion of the transaction, Quhuo will own 100% equity interest in Lailai.