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Senmiao Technology Announces Over 2.1 Million Completed Rides on its Ride-Hailing Platform in May 2021
CHENGDU, China, June 7, 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, June 7, 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 May 2021. From April 2021 to May 2021, the growth rate of the number of completed orders was approximately 20%, and the growth rate of the number of drivers completing rides via the platform (known as Active Drivers) was approximately 9%. \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, and in Guangzhou at the end of March 2021, over 8.4 million rides have been completed using the platform, including over 2.1 million rides during May 2021. The average monthly growth rate of the number of completed orders and Active Drivers during the five months ended May 31, 2021, was approximately 36% and 34%, 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, in thousands)\nTotal Fares Paid by Riders \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\nCumulative\n8,422\n25,029\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 platform aimed principally at the growing 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.\nCautionary Note Regarding Forward-Looking Statements \nThis press release contains forward-looking statements as def...