CHENGDU,
China, Dec. 13, 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
November 2023. In November 2023, Senmiao and its affiliates
recorded more than 0.48 million total completed orders, compared to
approximately 0.57 million total orders completed in October 2023. The decrease was primarily a result
of reduced demand for online ride-hailing services in a softer
economic environment, as well as the ongoing impact of the
compliance checks by Gaode, Senmiao's online ride-hailing platform
partner under the original model1, in Chengdu, one of the main cities where Senmiao
operates.
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, approximately
25.8 million rides have been completed using its own platform.
More than 9.1 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 November 2023 was 5,240, compared to 5,903 in
October 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 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
|
|
Cumulative
|
|
25,778
|
|
9,103
|
|
34,881
|
|
112,313
|
|
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.
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.
Carolyne Sohn, Vice President
+1 408-538-4577
csohn@equityny.com
In China
Lucy Ma, Associate
+86 10 5661 7012
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