FLJ Group Limited and Quhuo Limited Signed Cooperation Framework Agreement

SHANGHAI, China, Dec. 06, 2022 (GLOBE NEWSWIRE) -- FLJ Group Limited (NASDAQ: FLJ) (the “Company”), a leading technology-driven long-term apartment rental platform in China, today signed a cooperation framework agreement (the “Agreement”) with Quhuo Limited (“Quhuo”), a leading gig economy platform focusing on community-centered services in China. Under the Agreement, two parties will establish a continuing, stable and solid joint partnership and work together to provide their respective customers with integrated services across areas such as apartment rental, community service and platform development and expansion.

Leveraging its large apartment network, the Company will provide customized rental apartments (including centralized or dispersed apartments based on Quhuo’s need) to Quhuo’s large workforce to address their housing needs. On the other hand, Quhuo will provide comprehensive value-adding services such as delivery, cleaning and facilities maintenance to the Company’s tenants.

Looking forward, both parties are confident that they will be able to optimize their respective technology-driven and platform-based strength in workforce operational solutions and rental solutions and solidify their leading positions in respective fields. Working closely together, both parties will continue to provide more comprehensive services to their customers and achieve growth mutually.

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the quotations from management in this press release and the Company and its subsidiaries’ (collectively, the “Group”) operations and business outlook contain forward-looking statements. Such statements involve certain risks, uncertainties and other factors that could cause actual results to differ materially from those in the forward-looking statements. These risks and uncertainties include, but are not limited to the following: the Group’s ability to access financing on favorable terms in a timely manner and maintain and expand its cooperation with financial institutions; the Group’s ability to continue as a going concern in the future or achieve or maintain profitability; the Group’s ability to effectively respond to the challenges and uncertainties resulting from the COVID-19 pandemic and other outbreaks and catastrophes; the Group’s ability to manage its growth; the Group’s ability to integrate strategic investments, acquisitions and new business initiatives; the Group’s ability to control the quality of its operations, including the operation of the rental apartments managed by its own apartment managers or by third-party contractors; the Group’s ability to attract and retain tenants and landlords, including tenants and landlords from its acquired lease contracts; the Group’s ability to resolve disputes with third parties; the Group’s ability to manage its brand and reputation; the Group’s goal and strategies; the Group’s limited operating history; the Group’s ability to compete effectively; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Group’s filings with the U.S. Securities and Exchange Commission. Except as required by law, the Group does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

About FLJ Group Limited

FLJ Group Limited is a leading technology-driven long-term apartment rental platform in China. The Company offers young, emerging urban residents conveniently-located, ready-to-move-in, and affordable branded apartments as well as facilitates a variety of value-added services. The Company leverages advanced IT and mobile technologies to manage rental apartments in various cities in China. Technology is the core of the Company’s business and is applied to its operational process from apartment sourcing, renovation, and tenant acquisition, to property management. The focus on technology enables the Company to operate a large, dispersed, and fast-growing portfolio of apartments with high operational efficiency and deliver a superior user experience.

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FLJ Group Limited

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Mr. Rene Vanguestaine

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In the U.S.

Ms. Linda Bergkamp

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