Baidu Confirms Passive Stake in QUHUO Ltd. as of Dec 31, 2023

TL;DR

**Baidu's still holding QUHUO shares, no big changes here.**

AI Summary

Baidu, Inc. and its subsidiaries, Baidu Holdings Ltd and Baidu Online Network Technology (Beijing) Co., Ltd., have filed an SC 13G indicating their passive ownership in QUHUO Ltd. as of December 31, 2023. This filing, made under Rule 13d-1(d), confirms Baidu's existing stake in QUHUO without signaling any new aggressive investment or divestment. For investors, this means a major tech company like Baidu continues to hold its position in QUHUO, suggesting a stable, long-term interest rather than a short-term trading play.

Why It Matters

This filing confirms Baidu's continued, passive investment in QUHUO Ltd., signaling stability in their relationship and Baidu's ongoing belief in QUHUO's business without intent to influence management.

Risk Assessment

Risk Level: low — This filing is routine and indicates a passive, stable investment, posing minimal new risk to investors.

Analyst Insight

Investors should note Baidu's continued, passive stake in QUHUO Ltd., which suggests a stable, long-term investment perspective from a major tech player, but does not indicate any immediate catalysts or changes in company direction.

Key Players & Entities

• Baidu, Inc. (company) — filer of the SC 13G
• QUHUO Ltd. (company) — subject company of the filing
• Baidu Holdings Ltd (company) — group member of the filer
• Baidu Online Network Technology (Beijing) Co., Ltd. (company) — group member of the filer
• December 31, 2023 (date) — date of 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