趣活有限公司
发行至多9,880,000美元的美国存托股份（每份代表900股A类普通股）
趣活有限公司拟向特定投资者（“投资者”）发行至多9,880,000美元的美国存托股份（“ADS”），每份ADS代表900股A类普通股，每股面值0.0001美元。本次发行将根据本招股说明书补充文件、随附的招股说明书以及我们与投资者于2026年2月11日签署的证券购买协议（“购买协议”）进行，以注册直接发行的方式进行。
我们的ADS目前在纳斯达克全球市场上市，股票代码为“QH”。截至2026年2月10日，ADS的最新成交价为每份0.9336美元。根据 F-3 表格的一般说明 I.B.5，在任何情况下，只要我们非关联方持有的已发行普通股（包括有投票权和无投票权的普通股）的总市值保持在 75,000,000 美元以下，我们都不会在任何 12 个月期间内，通过公开发行出售本文所涵盖的证券，其价值不得超过我们非关联方持有的有投票权和无投票权普通股总市值的三分之一。非关联方持有的已发行及流通在外的A类普通股总市值（即公众持股）约为738万美元，该市值是根据非关联方持有的已发行及流通在外的A类普通股数量4,667,728,777股以及2026年12月12日每股美国存托凭证（ADS）收盘价1.58美元计算得出。在本招股说明书发布之日（含当日）之前的12个日历月内，我们曾根据F-3表格一般说明I.B.5的规定，出售了价值6,203,056.67美元的证券。
截至本招股说明书补充文件发布之日，我们已发行及流通在外的股份总数为4,778,561,139股，包括：(i) 4,672,264,509股A类普通股，每股面值0.0001美元；(ii) 6,296,630股B类普通股，每股面值0.0001美元；以及(iii) 100,000,000股C类普通股，每股面值0.0001美元。
根据美国联邦证券法的定义，我们是一家“新兴成长型公司”和“外国私人发行人”，因此，我们将有资格享受上市公司信息披露要求的简化。更多信息，请参阅本招股说明书补充文件中的“招股说明书摘要——作为新兴成长型公司的影响”和“招股说明书摘要——作为外国私人发行人的影响”。
投资这些证券涉及风险。请参阅本招股说明书补充文件第S-28页的“风险因素”，以及随附招股说明书、截至2024年12月31日止财政年度的20-F表格年度报告（“2024年度报告”）和本招股说明书及其中引用的文件，以了解您在投资这些证券前应考虑的因素。
美国证券交易委员会和任何州证券委员会均未批准或否决这些证券，也未对本招股说明书（包括任何招股说明书补充文件和其中引用的文件）中披露信息的准确性或充分性作出任何意见。任何相反的陈述均构成刑事犯罪。
招股说明书补充文件，日期：2026年2月11日
Quhuo Limited
Up to US$9,880,000 of American Depositary Shares each representing 900
Class A Ordinary Shares
Quhuo Limited is offering to certain investors (the “investors”) up to US$9,880,000 of American depositary shares of (the “ADSs”), each ADS representing nine hundred Class A ordinary shares, par value US$0.0001 per share, at an offering price of $0.494 per ADS in a registered direct offering pursuant to this prospectus supplement and the accompanying prospectus and a securities purchase agreement dated as of February 11, 2026 (the “Purchase Agreement”), by and among us and the investors.
Our ADSs are currently listed on the Nasdaq Global Market under the symbol “QH.” On February 10, 2026, the last reported sale price of the ADSs was US$0.9336 per ADS. Pursuant to General Instruction I.B.5 of Form F-3, in no event will we sell the securities covered hereby in a public primary offering with a value exceeding more than one-third of the aggregate market value of our voting and non-voting common equity held by non-affiliates in any 12-month period so long as the aggregate market value of our outstanding voting and non-voting common equity held by non-affiliates remains below US$75,000,000. The aggregate market value of our issued and outstanding Class A ordinary shares held by non-affiliates, or public float, was approximately US$7.38 million, which was calculated based on 4,667,728,777 Class A ordinary shares issued and outstanding held by non-affiliates and a per ADS closing price of US$1.58 on December 12, 2026. During the 12 calendar months prior to and including the date of this prospectus, we previously sold $6,203,056.67 of securities pursuant to General Instructions I.B.5 of Form F-3 during the prior 12 calendar month period that ends on, and includes, the date of this prospectus supplement.
As of the date of this prospectus supplement, our total number of issued and outstanding shares was 4,778,561,139 shares, consisting of (i) 4,672,264,509 Class A ordinary shares of a par value of US$0.0001 each, (ii) 6,296,630 Class B ordinary shares of a par value of US$0.0001 each and (iii) 100,000,000 Class C ordinary shares of a par value of US$0.0001 each.
We are an “emerging growth company” and a “foreign private issuer” as defined under the U.S. federal securities laws, and as such, will be eligible for reduced public company disclosure requirements. See “Prospectus Summary—Implications of Being an Emerging Growth Company” and “Prospectus Summary—Implications of Being a Foreign Private Issuer” in this prospectus supplement for additional information.
Investing in these securities involves risks. See the “Risk Factors” on page S-28 of this prospectus supplement, and those included in the accompanying prospectus, our annual report on Form 20-F for the fiscal year ended December 31, 2024 (the “2024 Annual Report”) and the documents incorporated by reference herein and therein to read about factors you should consider before investing in these securities.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the accuracy or adequacy of the disclosures in this prospectus, including any prospectus supplement and documents incorporated by reference. Any representation to the contrary is a criminal offense.
Prospectus Supplement dated February 11, 2026