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Senmiao Technology Announces Ride-Hailing Platform Operating Metrics for April 2022
CHENGDU, China, May 11, 2022 /PRNewswire/ -- Senmiao Technology Limited ("Senmiao" or the "Company") (Nasdaq: AIHS), a financing and servicing company focused
About this update from Senmiao Technology Limited
[{"type":"text","content":"CHENGDU, China, May 11, 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 April 2022. In April 2022, Senmiao and its affiliates reported approximately 0.9 million total completed orders, a decrease from over 1.0 million total orders completed in March 2022 due to a resurgence of COVID-19 cases in Chengdu in April, which led to the implementation of travel restrictions and lockdowns. Numbers reported since August 2021 include the number of completed orders from Meituan's ride-hailing platform (\"the Major Platform\") utilizing Senmiao's network of cars and drivers for a set monthly fee.\nSince the launch of Senmiao's online ride-hailing platform in October 2020, approximately 16.5 million rides have been completed using its platform. Approximately 4.1 million rides have been completed on the Major Platform under Senmiao's partnership with Meituan. Additionally, Senmiao and its affiliates have begun partnering with two new online platforms in Chengdu, which are Xiehua and Anma, under which approximately 75,500 rides were completed. The number of drivers completing rides via the platforms (known as Active Drivers) in April 2022 was 6,095, down approximately 14.0% from 7,091 in March 2022.\nThe table below presents approximate unaudited operating metrics of Senmiao and its affiliates' online ride-hailing platform since its launch in October 2020.\nCompleted Orders under Old Model[1]\n(in 000s)\nCompleted Orders under New Model[2] (in 000s)\nTotal Completed Orders\n(in 000s)\nTotal Fares Paid by Riders\n(in 000s USD$)\nActive Drivers\nOct 2020\n161\n161\n531\n1,800\nNov 2020\n537\n537\n1,646\n3,400\nDec 2020\n620\n620\n1,862\n5,000\nJan 2021\n910\n910\n2,626\n8,300\nFeb 2021\n710\n710\n2,164\n7,000\nMar 2021\n1,540\n1,540\n4,492\n11,500\nApr 2021\n1,790\n1,790\n5,332\n16,500\nMay 2021\n2,154\n2,154\n6,376\n18,000\nJun 2021\n2,068\n2,068\n6,193\n18,500\nJul 2021\n1,659\n1,659\n4,864\n16,400\nAug 2021\n530\n432\n962\n3,001\n6,073\nSep 2021\n540\n480\n1,020\n3,653\n7,519\nOct 2021\n531\n505\n1,036\n3,780\n7,010\nNov 2021\n436\n497\n933\n3,...