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Senmiao Technology Announces Ride-Hailing Platform Operating Metrics for October 2021
CHENGDU, China, Nov. 12, 2021 /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, Nov. 12, 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 October 2021. In October 2021, Senmiao reported over 1.0 million total completed orders, a 1.6% increase from September 2021. Numbers reported in August, September, and October 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 13.8 million rides have been completed using its platform. Over 1.4 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 October 2021 was over 7,000, a decrease of approximately 7% from September 2021. \nThe table below presents approximate unaudited operating metrics of Senmiao's online ride-hailing platform since its launch in October 2020. \nCompletedOrders underOld Model1\n(in 000s)\nCompletedOrders underNew Model2 (in 000s)\nTotalCompleted Orders\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\nCumulative\n13,750\n1,417\n15,167\n46,520\nN/A\n1 Under the old model, a rider can search for taxi/ride-hailing services on a Senmiao partner's platform, which then provides the rider with options for online ride-sharing service providers, including Senmiao. If the rider selects Senmiao, the order will then be distributed to registered drivers on Senmiao's platform for vi...