CHENGDU, China, Dec. 14, 2022 /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 2022. In November 2022, Senmiao and its affiliates reported approximately 0.8 million total completed orders, compared to over 0.9 million total orders completed in October 2022. The decrease was the result of operating restrictions placed on online ride-hailing services in Chengdu and Guangzhou, two of Senmiao's key cities, due to local resurgences in COVID-19 cases.
Numbers reported since August 2021 include the number of completed orders from Meituan's ride-hailing platform ("the Meituan platform") utilizing Senmiao's network of cars and drivers for a set monthly fee. Numbers reported since April 2022 include the number of completed orders from three other ride-hailing platforms in Chengdu (Xiehua, Anma and Xiaoma platforms), under the same cooperation model as Meituan.
Since the launch of Senmiao's online ride-hailing platform in October 2020, nearly 20.4 million rides have been completed using its own platform. Over 5.1 million rides have been completed on the Meituan platform under Senmiao's partnership with Meituan since August 2021. Over 1.2 million rides have been completed on Xiehua, Anma and Xiaoma platforms since April 2022. The number of drivers completing rides via all the platforms (known as Active Drivers) in November 2022 was 7,019, down approximately 7.3% from 7,574 in October 2022.
The table below presents approximate unaudited operating metrics of Senmiao and its affiliates' online ride-hailing platform since its launch in October 2020.
Completed (in 000s) |
Completed |
Total (in 000s) |
Total Fares Paid (in 000s USD$) |
Active |
||||||
Oct 2020 |
161 |
161 |
531 |
1,800 |
||||||
Nov 2020 |
537 |
537 |
1,646 |
3,400 |
||||||
Dec 2020 |
620 |
620 |
1,862 |
5,000 |
||||||
Jan 2021 |
910 |
910 |
2,626 |
8,300 |
||||||
Feb 2021 |
710 |
710 |
2,164 |
7,000 |
||||||
Mar 2021 |
1,540 |
1,540 |
4,492 |
11,500 |
||||||
Apr 2021 |
1,790 |
1,790 |
5,332 |
16,500 |
||||||
May 2021 |
2,154 |
2,154 |
6,376 |
18,000 |
||||||
Jun 2021 |
2,068 |
2,068 |
6,193 |
18,500 |
||||||
Jul 2021 |
1,659 |
1,659 |
4,864 |
16,400 |
||||||
Aug 2021 |
530 |
432 |
962 |
3,001 |
6,073 |
|||||
Sep 2021 |
540 |
480 |
1,020 |
3,653 |
7,519 |
|||||
Oct 2021 |
531 |
505 |
1,036 |
3,780 |
7,010 |
|||||
Nov 2021 |
436 |
497 |
933 |
3,236 |
7,480 |
|||||
Dec 2021 |
492 |
571 |
1,063 |
3,788 |
7,845 |
|||||
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 |
|||||
Cumulative |
20,419 |
6,328 |
26,747 |
86,713 |
N/A |
|||||
[1] Under the original model, orders go through Senmiao's own platform. A rider can search for taxi/ride-hailing |
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[2] Under the new model, orders go through partners' platform but not Senmiao's. Online ride-hailing requests and |
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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, Investor Relations Analyst
+1 212-836-9610
azhang@equityny.com
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