CHENGDU,
China, Sept. 14, 2023 /PRNewswire/ -- Senmiao
Technology Limited ("Senmiao" or the "Company") (Nasdaq: AIHS),
a financing and servicing company focused on the online
ride-hailing industry in China as
well as an operator of its own online ride-hailing platform, today
announced the operating metrics for its proprietary online
ride-hailing platform for the month of August 2023. In August
2023, Senmiao and its affiliates recorded 0.62 million total
completed orders, compared to 0.69 million total orders completed
in July 2023. The decrease was
primarily a result of the ongoing impact of a compliance check
performed by Gaode, Senmiao's online ride-hailing platform partner
under the original model,1 which caused a decrease in
completed orders in Senmiao's major market of Guangzhou in July and August.
Numbers reported include the number of completed orders from
several ride-hailing platform partners in Chengdu, utilizing Senmiao's network of cars
and drivers for a set monthly fee.
Since the launch of Senmiao's online ride-hailing platform in
October 2020, more than
24.6 million rides have been completed using its own platform.
Over 8.6 million rides have been completed on several platforms in
partnership with Senmiao since August
2021. The number of drivers completing rides via all the
platforms (known as Active Drivers) in August 2023 was 5,412, compared to 5,815 in
July 2023.
The table below presents approximate unaudited operating metrics
of Senmiao and its affiliates' online ride-hailing platform since
the launch in October 2020.
|
|
Completed
Orders under
Original Model[1]
(in
000s)
|
|
Completed
Orders under
New Model[2]
(in 000s)
|
|
Total Completed
Orders
(in
000s)
|
|
Total Fares
Paid by Riders
(in 000s
USD$)
|
|
Active
Drivers
|
|
Oct-Dec
2020
|
|
1,318
|
|
|
|
1,318
|
|
4,039
|
|
N/A
|
|
Jan-Dec
2021
|
|
13,360
|
|
2,485
|
|
15,845
|
|
49,505
|
|
N/A
|
|
Jan
2022
|
|
455
|
|
492
|
|
947
|
|
3,413
|
|
7,085
|
|
Feb
2022
|
|
344
|
|
371
|
|
715
|
|
2,651
|
|
6,008
|
|
Mar
2022
|
|
534
|
|
480
|
|
1,014
|
|
3,660
|
|
7,091
|
|
Apr
2022
|
|
502
|
|
369
|
|
871
|
|
3,009
|
|
6,095
|
|
May
2022
|
|
581
|
|
357
|
|
938
|
|
3,286
|
|
5,989
|
|
Jun
2022
|
|
602
|
|
319
|
|
921
|
|
3,290
|
|
5,862
|
|
Jul
2022
|
|
636
|
|
337
|
|
973
|
|
3,504
|
|
5,928
|
|
Aug
2022
|
|
617
|
|
400
|
|
1,017
|
|
3,583
|
|
6,778
|
|
Sep
2022
|
|
414
|
|
114
|
|
528
|
|
1,712
|
|
6,030
|
|
Oct
2022
|
|
600
|
|
306
|
|
906
|
|
2,794
|
|
7,574
|
|
Nov
2022
|
|
456
|
|
298
|
|
754
|
|
2,267
|
|
7,019
|
|
Dec
2022
|
|
390
|
|
267
|
|
657
|
|
1,973
|
|
6,682
|
|
Jan
2023
|
|
338
|
|
239
|
|
577
|
|
1,928
|
|
4,830
|
|
Feb
2023
|
|
460
|
|
276
|
|
736
|
|
2,328
|
|
5,973
|
|
Mar
2023
|
|
522
|
|
313
|
|
835
|
|
2,614
|
|
7,092
|
|
Apr
2023
|
|
600
|
|
256
|
|
856
|
|
2,748
|
|
7,422
|
|
May
2023
|
|
538
|
|
229
|
|
767
|
|
2,449
|
|
7,470
|
|
June
2023
|
|
524
|
|
216
|
|
740
|
|
2,322
|
|
6,891
|
|
July
2023
|
|
440
|
|
250
|
|
690
|
|
2,205
|
|
5,815
|
|
Aug
2023
|
|
384
|
|
233
|
|
617
|
|
1,962
|
|
5,412
|
|
Cumulative
|
|
24,615
|
|
8,607
|
|
33,222
|
|
107,242
|
|
N/A
|
[1] Under the original model, orders coming from
partner platforms are completed by Senmiao's own platform. A rider
can search for taxi/ride-hailing services on Senmiao's partner
platforms, which then provide the rider with options for online
ride-sharing service providers, including Senmiao. If the rider
selects Senmiao, the order will then be distributed to registered
drivers on Senmiao's own platform for viewing and acceptance and
then completed by Active Drivers. Senmiao earns commissions for
each completed order based on a certain percentage of the value of
the order.
[2] Under the new model, orders go through
partner platforms but do not utilize Senmiao's own platform. Online
ride-hailing requests and orders will be completed on the partner
platforms utilizing Senmiao and its affiliates' network of cars and
drivers for a set monthly fee.
About Senmiao Technology Limited
Headquartered in Chengdu,
Sichuan Province, Senmiao provides
automobile transaction and related services including sales of
automobiles, facilitation and services for automobile purchases and
financing, management, operating leases, guarantees and other
automobile transaction services, as well as operates its own
ride-hailing platform aimed principally at the growing online
ride-hailing market in Senmiao's areas of operation in China. For more information about Senmiao,
please visit: http://www.senmiaotech.com. Senmiao routinely
provides important updates on its website.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
These forward-looking statements (including those relating to the
operation of Senmiao's ride-hailing platform) are subject to
significant risks, uncertainties and assumptions, including those
detailed from time to time in the Senmiao's filings with the SEC,
and represent Senmiao's views only as of the date they are made and
should not be relied upon as representing Senmiao's views as of any
subsequent date. Senmiao undertakes no obligation to publicly
revise any forward-looking statements to reflect changes in events
or circumstances.
For more information, please contact:
At the Company:
Yiye Zhou
Email: edom333@ihongsen.com
Phone: +86 28 6155 4399
Investor Relations:
The Equity Group Inc.
In China
Carolyne Sohn, Vice
President
Lucy Ma, Associate
+1
408-538-4577
+86 10 5661 7012
csohn@equityny.com
lma@equityny.com
Alice Zhang, Associate
+1 212-836-9610
azhang@equityny.com
© 2023 Senmiao Technology Ltd. All rights reserved.
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SOURCE Senmiao Technology Limited
