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Senmiao Technology Announces Approximately 1.7 Million Completed Rides on its Ride-Hailing Platform in July 2021
CHENGDU, China, Aug. 11, 2021 /PRNewswire/ -- Senmiao Technology Limited ("Senmiao") (Nasdaq: AIHS), a financing and servicing company focused on the online
About this update from Senmiao Technology Limited
[{"type":"text","content":"CHENGDU, China, Aug. 11, 2021 /PRNewswire/ -- Senmiao Technology Limited (\"Senmiao\") (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 operating metrics for its proprietary online ride-hailing platform for the month of July 2021. From June 2021 to July 2021, the number of completed orders decreased approximately 19.8%, primarily due to a decrease in orders received through one of Senmiao's partnerships as well as a COVID-19 resurgence in Chengdu, which resulted in travel restrictions and lockdowns being implemented by the local government. The number of drivers completing rides via the platform (known as Active Drivers) in July 2021 decreased approximately 11% from June 2021. \nSince the launch of Senmiao's online ride-hailing platform in Chengdu in October 2020, in Changsha in December 2020, in Neijiang in January 2021, in Guangzhou at the end of March 2021, and in Nanchong and Panzhihua in June 2021, over 12.1 million rides have been completed using the platform, including approximately 1.7 million rides completed during July 2021. The average monthly growth rate of the number of completed orders and Active Drivers during the seven months ended July 31, 2021, was approximately 22% and 23%, respectively. \nThe table below presents approximate unaudited operating metrics of Senmiao's online ride-hailing platform since its launch in October 2020. \nCompleted Orders (Approximate, inthousands)\nTotal Fares Paid byRiders \n(Approximate, $ in thousands USD)\nActive Drivers(Approximate)\nOctober 2020\n161\n531\n1,800\nNovember 2020\n537\n1,646\n3,400\nDecember 2020\n620\n1,862\n5,000\nJanuary 2021\n910\n2,626\n8,300\nFebruary 2021\n710\n2,164\n7,000\nMarch 2021\n1,540\n4,492\n11,500\nApril 2021\n1,790\n5,332\n16,500\nMay 2021\n2,154\n6,376\n18,000\nJune 2021\n2,068\n6,193\n18,500\nJuly 2021\n1,659\n4,864\n16,400\nCumulative\n12,149\n36,086\nN/A\nAbout Senmiao Technology Limited \nHeadquartered in Chengdu, Sichuan Province, Senmiao provides automobile transaction and related services including sales of automobiles, facilitation and services for automobile purchase and financing, management, operating lease, guarantee and other automobile transaction services as well as operates its own ride-hailing plat...