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Senmiao Technology Announces Ride-Hailing Platform Operating Metrics for February 2023
CHENGDU, China, March 17, 2023 /PRNewswire/ -- Senmiao Technology Limited ("Senmiao" or the "Company") (Nasdaq: AIHS), a financing and servicing company
About this update from Senmiao Technology Limited
[{"type":"text","content":"CHENGDU, China, March 17, 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 February 2023. In February 2023, Senmiao and its affiliates recorded over 0.7 million total completed orders, a 28.3% increase from approximately 0.6 million total orders completed in January 2023, as a result of ride-hailing activity returning to pre-holiday levels following the Lunar New Year in late January.\nNumbers 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 several other ride-hailing platforms in Chengdu (Xiehua, Anma and other platforms), under the same cooperation model as Meituan.\nSince the launch of Senmiao's online ride-hailing platform in October 2020, over 21.6 million rides have been completed using its own platform. Approximately 5.4 million rides have been completed on the Meituan platform under Senmiao's partnership with Meituan since August 2021. Over 1.7 million rides have been completed on Xiehua, Anma and other platforms since April 2022. The number of drivers completing rides via all the platforms (known as Active Drivers) in February 2023 was 5,973, up approximately 23.7% from 4,830 in January 2023.\nThe table below presents approximate unaudited operating metrics of Senmiao and its affiliates' online ride-hailing platform since the launch in October 2020.\nCompletedOrders underOriginalModel[1]\n(in 000s)\nCompletedOrders underNew Model[2] \n(in 000s)\nTotalCompletedOrders\n(in 000s)\nTotal Fares Paidby Riders\n(in 000s USD$)\nActiveDrivers\nOct-Dec 2020\n1,318\n1,318\n4,039\nN/A\nJan-Dec 2021\n13,360\n2,485\n15,845\n49,505\nN/A\nJan 2022\n455\n492\n947\n3,413\n7,085\nFeb 2022\n344\n371\n715\n2,651\n6,008\nMar 2022\n534\n480\n1,014\n3,660\n7,091\nApr 2022\n502\n369\n871\n3,009\n6,095\nMay 2022\n581\n357\n938\n3,286\n5,989\nJun 2022\n602\n319\n921\n3,290\n5,862\nJul 2022\n636\n337\n973\n3,504\n5,928\nAug ...