Welcome to our dedicated page for Senmiao Technology news (Ticker: AIHS), a resource for investors and traders seeking the latest updates and insights on Senmiao Technology stock.
Senmiao Technology Ltd (AIHS) operates at the intersection of China's automobile transaction services and digital ride-hailing markets through its Xixingtianxia platform. This resource provides investors and industry observers with centralized access to official announcements, financial disclosures, and strategic developments.
Key updates include earnings reports, partnership agreements, regulatory compliance updates, and operational expansions within China's mobility sector. Users gain insights into both automobile financing innovations and ride-hailing platform enhancements that drive the company's growth.
All content is curated to meet investor needs for timely, accurate information while maintaining compliance-first reporting standards. Bookmark this page for direct access to primary source materials and analysis-neutral summaries of Senmiao's market activities.
Senmiao Technology Limited (Nasdaq: AIHS) reported a significant uptick in operational metrics for its ride-hailing platform, XXTX, in December 2020. The company achieved over 620,000 completed rides that month, totaling approximately $1.86 million in gross order amounts. With a cumulative total of 1.3 million rides since its launch in October 2020, the platform has shown a remarkable average monthly growth rate of 96% in completed orders and 66% in active drivers. Notably, around 19% of active drivers also lease cars through Senmiao.
Senmiao Technology Limited (Nasdaq: AIHS) announced the launch of its online ride-hailing platform, Xixingtianxia, in Changsha, China, following its initial launch in Chengdu. This strategic move targets a city with a population of approximately 8 million, enhancing Senmiao's presence in the growing ride-hailing market. Recent collaborations with platforms like Gaode Map and Meituan, along with agreements for purchasing electric vehicles from BYD Company, further bolster its service offerings. CEO Xi Wen expressed optimism about market recovery despite COVID-19 uncertainties.
Senmiao Technology Limited (Nasdaq: AIHS) announced positive operational results in Chengdu after collaborating with Meituan, China's largest on-demand delivery service. In November, daily ride orders averaged 110,000, achieving a market share increase from 3% to 14%. The partnership enhances Senmiao's ride-hailing platform, Xixingtianxia, integrating with popular apps for more user engagement. Future expansion plans are underway to launch Xixingtianxia in Changsha, showcasing the company's commitment to building a comprehensive ride-hailing ecosystem.
Senmiao Technology Limited (Nasdaq: AIHS), engaged in automobile transaction services and online ride-hailing, reported a significant uptick in daily rides on its platform Xixingtianxia, rising from 3,000 to 17,000 following its partnership with Gaode Map. This collaboration enables Gaode users to request services directly from Senmiao, enhancing visibility and commission-based earnings from completed rides. The platform currently boasts over 300,000 registered drivers, with plans to expand to Changsha soon.
Senmiao Technology Limited (Nasdaq: AIHS) reported its fiscal 2021 Q2 results for the period ending September 30, 2020. Total revenues were $1.39 million, down from $5.89 million YoY, but up from $1.15 million in Q1 2021. The net loss was $2.61 million, compared to a profit of $1.86 million the previous year. Despite challenges from COVID-19, the company's automobile rental business generated $787,955. Senmiao emphasized partnerships with BYD and Luxingtong to improve services and expects revenue growth in upcoming quarters as markets recover.
Senmiao Technology Limited (Nasdaq: AIHS), based in Chengdu, China, has launched its proprietary online ride-sharing platform, Xixingtianxia, targeting local drivers and riders. The platform aims to enhance Senmiao's existing automobile transaction services and foster partnerships with leading ride-hailing services. Starting in late October 2020, the platform is expected to generate revenue through fees and commissions per ride. Senmiao plans to expand Xixingtianxia to Changsha in the coming weeks, aligning with the rebound in demand for public transportation in China.
Senmiao Technology Limited (Nasdaq: AIHS) announced that it has regained compliance with Nasdaq's minimum bid price and market value of listed securities requirements. As of November 16, 2020, Senmiao's closing bid price exceeded $1.00 for 20 consecutive business days. Additionally, the company's market value of listed securities reached or exceeded $35 million during this period. Nasdaq considers both compliance matters closed, marking a significant recovery for Senmiao in the competitive online ride-hailing sector in China.
Senmiao Technology Limited (Nasdaq: AIHS) announced its financial results for Q3 2020, set to be released before the market opens on November 20, 2020. The company will file its Form 10-Q on the same day. Additionally, it expects to file a Form 12b-25 due to the need for extra time to finalize disclosures, as authorized by the SEC. Senmiao focuses on automobile transaction services for the online ride-hailing industry in China, aiming to capitalize on the expanding market.
Senmiao Technology Limited (Nasdaq: AIHS) has announced an order for 500 electric vehicles from BYD Company Limited, through an authorized dealer. This strategic move targets the ride-hailing market in Chengdu and Changsha, with the first 20 vehicles expected to be available in November 2020. Senmiao aims to offer finance and leasing options to ride-sharing drivers, enhancing its service offerings in a recovering market after COVID-19. The deal follows a framework agreement aimed at promoting EV usage in China's ride-hailing sector, potentially benefiting the company's operations in the fourth quarter of 2020.
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