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Senmiao Technology Announces Ride-Hailing Platform Operating Metrics for January 2023
CHENGDU, China, Feb. 9, 2023 /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, Feb. 9, 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 January 2023. In January 2023, Senmiao and its affiliates recorded approximately 0.6 million total completed orders, compared to approximately 0.7 million total orders completed in December 2022. The change was primarily the result of seasonality driven by the Lunar New Year holiday in China, which led to decreased demand for online ride-hailing services and fewer active drivers in late January 2023.\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 21.1 million rides have been completed using its own platform. Approximately 5.3 million rides have been completed on the Meituan platform under Senmiao's partnership with Meituan since August 2021. Over 1.5 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 January 2023 was 4,830, down approximately 27.7% from 6,682 in December 2022.\nThe table below presents approximate unaudited operating metrics of Senmiao and its affiliates' online ride-hailing platform since the launch in October 2020.\nCompletedOrders underOriginal Model1\n(in 000s)\nCompletedOrders under New Model2 (in 000s)\nTotalCompleted Orders\n(in 000s)\nTotal Fares Paidby 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,...