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Senmiao Technology Announces Ride-Hailing Platform Operating Metrics for November 2022
CHENGDU, China, Dec. 14, 2022 /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, Dec. 14, 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 November 2022. In November 2022, Senmiao and its affiliates reported approximately 0.8 million total completed orders, compared to over 0.9 million total orders completed in October 2022. The decrease was the result of operating restrictions placed on online ride-hailing services in Chengdu and Guangzhou, two of Senmiao's key cities, due to local resurgences in COVID-19 cases.\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 three other ride-hailing platforms in Chengdu (Xiehua, Anma and Xiaoma platforms), under the same cooperation model as Meituan.\nSince the launch of Senmiao's online ride-hailing platform in October 2020, nearly 20.4 million rides have been completed using its own platform. Over 5.1 million rides have been completed on the Meituan platform under Senmiao's partnership with Meituan since August 2021. Over 1.2 million rides have been completed on Xiehua, Anma and Xiaoma platforms since April 2022. The number of drivers completing rides via all the platforms (known as Active Drivers) in November 2022 was 7,019, down approximately 7.3% from 7,574 in October 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 Original Model[1]\n(in 000s)\nCompleted Orders under New Model[2] (in 000s)\nTotal Completed 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\n18,000\nJun 2021\n2,068\n2...