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Senmiao Technology Announces Ride-Hailing Platform Operating Metrics for July 2023
CHENGDU, China, Aug. 23, 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, Aug. 23, 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 July 2023. In July 2023, Senmiao and its affiliates recorded 0.69 million total completed orders, compared to 0.74 million total orders completed in June 2023. The decrease was primarily a result of a compliance check performed by Gaode, Senmiao's online ride-hailing platform partner under the original model,[1] which caused a decrease in completed orders in Senmiao's major market of Guangzhou during the period. The Company expects the number of rides from Gaode to normalize in late August. \nNumbers reported include the number of completed orders from several ride-hailing platforms in Chengdu, 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 24.2 million rides have been completed using its own platform. Approximately 8.4 million rides have been completed on several platforms in partnership with Senmiao since August 2021. The number of drivers completing rides via all the platforms (known as Active Drivers) in July 2023 was 5,815, compared to 6,891 in June 2023.\nThe table below presents approximate unaudited operating metrics of Senmiao and its affiliates' online ride-hailing platform since the launch in October 2020.\nCompleted Orders under Original Model[1]\n(in 000s)\nCompleted Orders under New Model[2] (in 000s)\nTotal CompletedOrders\n(in 000s)\nTotal FaresPaid by Riders\n(in 000s USD$)\nActive Drivers\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 2022\n617\n400\n1,017\n3,583\n6,778\nSep 2022\n414\n114\n528\n1,712\n6,030\nOct 2022\n600\n306\n906\n2,794\n7,574\nNov 2022\n456\n298\n754\n2,267\n7,019\nDec 2022\n390\n267\n657\n1...