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Senmiao Technology Announces Ride-Hailing Platform Operating Metrics for November 2021
CHENGDU, China, Dec. 6, 2021 /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, Dec. 6, 2021 /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 November 2021. In November 2021, Senmiao reported over 0.9 million total completed orders, a decrease from over 1.0 million total orders completed in October 2021, due to a resurgence of COVID-19 cases in Chengdu in November, which led to travel restrictions and lockdowns being implemented. 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 14.2 million rides have been completed using its platform. Over 1.9 million rides have been completed on the Major Platform under Senmiao's new partnership with Meituan, which commenced in August 2021. The number of drivers completing rides via the platform (known as Active Drivers) in November 2021 was 7,480, an increase of approximately 7% from October 2021. \nThe table below presents approximate unaudited operating metrics of Senmiao's 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)\nTotalCompletedOrders\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\n3,236\n7,480\nCumulative\n14,186\n1,914\n16,100\n49,756\nN/A\n \n[1] Under the old model, a rider can search for taxi/ride-hailing services on a Senmiao partner's platform, which then provides the ...