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Senmiao Technology Announces Ride-Hailing Platform Operating Metrics for October 2022
CHENGDU, China, Nov. 8, 2022 /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, Nov. 8, 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 October 2022. In October 2022, Senmiao and its affiliates reported over 0.9 million total completed orders, a 71.6% increase from over 0.5 million total orders completed in September 2022, as a result of online ride-hailing service restrictions being lifted following their suspension in Chengdu in the first half of September 2022.\nNumbers 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. Numbers reported since April 2022 include the number of completed orders from three other ride-hailing platforms in Chengdu, Xiehua, Anma and Xiaoma, under the same cooperation model as Meituan.\nSince the launch of Senmiao's online ride-hailing platform in October 2020, nearly 20.0 million rides have been completed using its platform. Over 5.0 million rides have been completed on the Major Platform under Senmiao's partnership with Meituan since August 2021. Over 1.0 million rides have been completed on Xiehua, Anma and Xiaoma since April 2022. The number of drivers completing rides via the platforms (known as Active Drivers) in October 2022 was 7,574, up approximately 25.6% from 6,030 in September 2022.\nThe table below presents approximate unaudited operating metrics of Senmiao and its affiliates' online ride-hailing platform since its launch in October 2020.\nCompletedOrders underOld Model[1](in 000s)\nCompletedOrders underNew Model[2](in 000s)\nTotalCompletedOrders(in 000s)\nTotal Fares Paidby Riders(in 000s USD$)\nActiveDrivers\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\n...