CHENGDU,
China, Jan. 26, 2024 /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 December 2023. In
December 2023, Senmiao and its
affiliates recorded approximately 0.55 million total completed
orders, a 13.6% increase from 0.48 million total orders completed
in November 2023. The increase was
primarily a result of the recent strategic cooperation with Anhui
Lianma Technology ("Lianma").
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
26.2 million rides have been completed using its own platform.
Approximately 9.2 million rides have been completed on several
platforms in partnership with Senmiao under the new
model3. The number of drivers completing rides via all
the platforms (known as Active Drivers) in December 2023 was 5,127, compared to 5,240 in
November 2023.
Starting 2024, Senmiao will begin providing
operating metric updates on its online ride-hailing business on a
quarterly basis as part of its financial result
disclosures.
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 Model1
(in 000s)
|
|
Completed
Orders under
New Model2,
3
(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
|
|
June 2022
|
|
602
|
|
319
|
|
921
|
|
3,290
|
|
5,862
|
|
July 2022
|
|
636
|
|
337
|
|
973
|
|
3,504
|
|
5,928
|
|
Aug 2022
|
|
617
|
|
400
|
|
1,017
|
|
3,583
|
|
6,778
|
|
Sept 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
|
|
Sept 2023
|
|
405
|
|
201
|
|
606
|
|
1,892
|
|
6,065
|
|
Oct 2023
|
|
399
|
|
170
|
|
569
|
|
1,731
|
|
5,903
|
|
Nov 2023
|
|
359
|
|
125
|
|
484
|
|
1,448
|
|
5,240
|
|
Dec 2023
|
|
456
|
|
94
|
|
550
|
|
1,663
|
|
5,127
|
|
Cumulative
|
|
26,234
|
|
9,197
|
|
35,431
|
|
113,976
|
|
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. Since December 2023, Lianma is responsible for the
comprehensive operation of Senmiao's platform under this model.
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.
3 New model commenced in August 2021.
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
© 2024 Senmiao Technology Ltd. All rights
reserved.
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SOURCE Senmiao Technology Limited
