Senmiao Technology Announces Ride-Hailing Platform Operating Metrics for June 2023

About this update from Senmiao Technology Limited

CHENGDU, China, July 19, 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 June 2023. In June 2023, Senmiao and its affiliates recorded more than 0.7 million total completed orders, compared to approximately 0.8 million total orders completed in May 2023. The decrease was due to increased competition in the Chengdu market as a result of new ride-hailing platforms continuing to offer promotions during the month. Numbers 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. Since the launch of Senmiao's online ride-hailing platform in October 2020, approximately 23.8 million rides have been completed using its own platform. Over 8.1 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 June 2023 was 6,891, compared to 7,470 in May 2023. The table below presents approximate unaudited operating metrics of Senmiao and its affiliates' online ride-hailing platform since the launch in October 2020. Completed Orders under Original Model1 (in 000s) Completed Orders under New Model2 (in 000s) Total Completed Orders (in 000s) Total Fares Paid by Riders (in 000s USD$) Active Drivers Oct-Dec 2020 1,318 1,318 4,039 N/A Jan-Dec 2021 13,360 2,485 15,845 49,505 N/A Jan 2022 455 492 947 3,413 7,085 Feb 2022 344 371 715 2,651 6,008 Mar 2022 534 480 1,014 3,660 7,091 Apr 2022 502 369 871 3,009 6,095 May 2022 581 357 938 3,286 5,989 Jun 2022 602 319 921 3,290 5,862 Jul 2022 636 337 973 3,504 5,928 Aug 2022 617 400 1,017 3,583 6,778 Sep 2022 414 114 528 1,712 6,030 Oct 2022 600 306 906 2,794 7,574 Nov 2022 456 298 754 2,267 7,019 Dec 2022 390 267 657 1,973 6,682 Jan 2023 338 239 577 1,928 4,830 Feb 2023 460 276 736 2,328 5,973 Mar 2023 522 313 835 2,614 7,092 Apr 2023 600 256 856 2,748 7,422 May 2023 538 229 767 2,449 7,470 June 2023 524 216 740 2,322 6,891 Cumulative 23,791 8,124 31,915 103,075 N/A 1 Under the original model, orders comin...

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