Baidu Discloses Passive Stake in Quhuo Ltd. via SC 13G

TL;DR

**Baidu holds a passive stake in Quhuo, signaling potential long-term interest.**

AI Summary

Baidu, Inc. (NASDAQ: BIDU) filed an SC 13G on February 1, 2024, disclosing its ownership of Class A and Class B Ordinary Shares in Quhuo Limited (NASDAQ: QH) as of December 31, 2023. This filing indicates Baidu's passive investment in Quhuo, a company in the business services sector. For Quhuo shareholders, this means a major tech company like Baidu sees value in their stock, potentially signaling confidence, while Baidu investors should note this as part of their diversified investment strategy.

Why It Matters

This filing reveals Baidu's investment in Quhuo, which can be seen as a vote of confidence from a major tech player, potentially influencing investor sentiment for Quhuo.

Risk Assessment

Risk Level: low — An SC 13G filing typically indicates a passive investment, posing minimal immediate risk to either company's stock.

Analyst Insight

Investors in Quhuo Limited should view Baidu's passive stake as a potential long-term positive signal, but should not expect immediate operational changes or aggressive activism from Baidu given the 13G filing type.

Key Players & Entities

• Baidu, Inc. (company) — the filer of the SC 13G, disclosing its ownership
• Quhuo Limited (company) — the subject company in which Baidu holds shares
• Baidu Holdings Ltd (company) — a group member associated with the filing
• Baidu Online Network Technology (Beijing) Co., Ltd. (company) — a group member associated with the filing
• December 31, 2023 (date) — the date of the event requiring the filing

FAQ

Key Financial Figures

• $0.0001 — Class A Ordinary Shares, par value US$0.0001 per share Class B Ordinary Shares, pa

Filing Documents

• d763587dsc13g.htm (SC 13G) — 74KB
• d763587dex991.htm (EX-99.1) — 6KB
• 0001193125-24-021345.txt ( ) — 82KB

From the Filing

SC 13G 1 d763587dsc13g.htm SCHEDULE 13G SCHEDULE 13G SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No.)* Quhuo Limited (Name of Issuer) Class A Ordinary Shares, par value US$0.0001 per share Class B Ordinary Shares, par value US$0.0001 per share (Title of Class of Securities) 74841Q 209 (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: Rule 13d-1(b) Rule 13d-1(c) Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP number 74841Q 209 has been assigned to the American Depositary Shares (ADSs) of the Issuer which are listed on the Nasdaq Global Market under the symbol QH. Each ADS represents ten Class A ordinary shares of the Issuer. No CUSIP number has been assigned to ordinary shares of the Issuer. CUSIP No. 74841Q 209 1. Name of Reporting Person Baidu Online Network Technology (Beijing) Co., Ltd. 2. Check the Appropriate Box if a Member of a Group (a)(b) 3. SEC Use Only 4. Citizenship or Place of Organization Peoples Republic of China Number of Shares Beneficially Owned by Each Reporting Person With 5. Sole Voting Power 5,950,290. See Item 4. 6. Shared Voting Power 0 7. Sole Dispositive Power 5,950,290. See Item 4. 8. Shared Dispositive Power 0 9. Aggregate Amount Beneficially Owned by Each Reporting Person 5,950,290. See Item 4. 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares 11. Percent of Class Represented by Amount in Row 9 9.6%* of total outstanding ordinary shares, assuming conversion of all outstanding Class B ordinary shares into the same number of Class A ordinary shares. See Item 4. 12. Type of Reporting Person CO * Percentage calculated based on a total of 61,676,213 ordinary shares (consisting of 55,379,583 Class A ordinary shares and 6,296,630 Class B ordinary shares) of the Issuer outstanding as of April 10, 2023 as a single class, as reported in the Issuers Form 20-F for the fiscal year ended December 31, 2022 filed with the U.S. Securities and Exchange Commission on April 20, 2023. Holders of Class A ordinary shares are entitled to one vote per share, while holders of Class B ordinary shares are entitled to 15 votes per share. Accordingly, the ordinary shares beneficially owned by the Reporting Person represent approximately 4.0% of the aggregate voting power of the total issued and outstanding ordinary shares of the Issuer. 2 CUSIP No. 74841Q 209 1. Name of Reporting Person Baidu Holdings Limited 2. Check the Appropriate Box if a Member of a Group (a)(b) 3. SEC Use Only 4. Citizenship or Place of Organization British Virgin Islands Number of Shares Beneficially Owned by Each Reporting Person With 5. Sole Voting Power 5,950,290. See Item 4. 6. Shared Voting Power 0 7. Sole Dispositive Power 5,950,290. See Item 4. 8. Shared Dispositive Power 0 9. Aggregate Amount Beneficially Owned by Each Reporting Person 5,950,290. See Item 4. 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares 11. Percent of Class Represented by Amount in Row 9 9.6%* of total outstanding ordinary shares, assuming conversion of all outstanding Class B ordinary shares into the same number of Class A ordinary shares. See Item 4. 12. Type of Reporting Person CO * Percentage calculated based on a total of 61,676,213 ordinary shares (consisting of 55,379,583 Class A ordinary shares and 6,296,630 Class B ordinary shares) of the Issuer outstanding as of April 10, 2023 as a single class, as reported in the Issuers Form 20-F for the fiscal year ended December 31, 2022 filed with the U.S. Securities and Exchange Commission on April 20, 2023. Holders of Class A ordinary shares are entitled to one vote per share, while holders of Class B ordinary shares are entitled to 15 votes per share. Accordingly, the ordinary shares beneficially owned by the Reporting Person represent approximately 4.0% of the aggregate voting power of the total issued and outstanding ordinary shares of the Issuer. 3 CUSIP No. 74841Q 209 1. Name of Reporting Person Baidu, Inc. 2. Check the Appropriate Box if a Member of a Group (a)(b) 3. SEC Use Only 4. Citizenship or Place of Organization Cayma

View Full Filing

View this SC 13G filing on SEC EDGAR