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) announced its November 2022 operating metrics for its online ride-hailing platform, reporting approximately 0.8 million completed orders, a decline from over 0.9 million in October due to COVID-19 restrictions in key cities like Chengdu and Guangzhou. The total number of active drivers fell by approximately 7.3% to 7,019. Since launching in October 2020, Senmiao's platform has completed nearly 20.4 million rides, with significant contributions from partners like Meituan, contributing over 5.1 million rides.
Senmiao Technology Limited (Nasdaq: AIHS) announced a strategic cooperation agreement with Chongqing Huicheng Future Intelligent Electrical Co., Ltd. on December 8, 2022. This partnership aims to develop new energy vehicle (NEV) charging infrastructure across China, enhancing Senmiao's offerings in the ride-hailing market. Huicheng Future will supply equipment and consulting services at favorable prices, strengthening Senmiao's position in the NEV industry.
Chairman Xi Wen expressed optimism about expanding into the NEV sector, which aligns with prior initiatives in Guangzhou and Sichuan.
Senmiao Technology Limited (NASDAQ: AIHS) reported its fiscal Q2 2023 results, showing total revenues of $2.2 million, a significant rise from $1.1 million year-over-year. The company achieved a gross profit of $0.3 million, recovering from a gross loss of $0.4 million in the same period last year. However, Senmiao incurred a net loss of $1.2 million, contrasting with a net income of $0.7 million a year earlier. The financial results reflect increased contributions from both automobile rental and ride-hailing services, despite ongoing challenges due to pandemic restrictions.
Senmiao Technology Limited (Nasdaq: AIHS) reported strong operating metrics for October 2022, with over 0.9 million completed ride-hailing orders, a 71.6% increase from September. This growth is attributed to the lifting of ride-hailing service restrictions in Chengdu. Since its launch in October 2020, Senmiao has completed nearly 20 million rides. The number of Active Drivers rose to 7,574, marking a 25.6% increase from September. The company continues to operate its ride-hailing platform and expand its services across various partner platforms.
On November 2, 2022, Senmiao Technology Limited (Nasdaq: AIHS) announced a strategic cooperation agreement with Global Sharing Chengdu, a subsidiary of Global Car Sharing and an affiliate of SAIC Motor. This partnership aims to enhance the NEV online ride-hailing business in Chengdu. The agreement covers vehicle rental, buy-to-lease options, and financing services, potentially delivering over 1,000 vehicles to Senmiao by the end of 2023. Senmiao’s CEO expressed optimism about increased market share and brand recognition in Chengdu through this collaboration.
Senmiao Technology Limited (Nasdaq: AIHS) has signed a cooperation agreement with Sichuan Qingzhuang New Energy Ltd. to enhance online marketing and charging services for new energy vehicle drivers in Chengdu. The collaboration commenced in October 2022 and will continue until June 30, 2023. Senmiao will promote its services through Qingzhuang's app, offering drivers access to charging and earning commission based on usage. This partnership aims to expand charging options for drivers while increasing visibility for Senmiao's ride-hailing platform.
Senmiao Technology Limited (Nasdaq: AIHS) reported operational metrics for its ride-hailing platform for September 2022, revealing a decline in total completed orders to over 0.5 million from over 1.0 million in August. This drop was primarily due to the suspension of services in Chengdu for the first 18 days of September due to COVID-19. Active drivers also decreased by approximately 11.0% to 6,030. Since the platform's launch in October 2020, about 19.4 million rides have been completed, with 4.9 million through its partnership with Meituan.
Senmiao Technology Limited (Nasdaq: AIHS) announced a partnership with Guangzhou Tongchuang New Energy Ltd., expanding its online ride-hailing services in Guangzhou. This agreement, beginning September 2022, allows Tongchuang to provide ride-hailing services using its leased vehicles, while Senmiao facilitates orders and pays commission fees based on fares. Tongchuang operates 42 EV charging stations and offers free charging for its leased vehicles, enhancing service appeal. The partnership is set to bolster Senmiao's market presence and explore further growth opportunities in the ride-hailing sector.
Senmiao Technology Limited (Nasdaq: AIHS) announced a partnership with Guangzhou Baishi Haoyun Automobile Leasing Services Ltd. This collaboration will enhance Senmiao's ride-hailing services in Guangzhou, leveraging Baishi Haoyun's 20 years of local experience. The agreement, effective from August 2022 to August 2023, allows Baishi Haoyun to manage its own drivers while Senmiao assigns online ride orders. This partnership is positioned to increase Senmiao’s market share in a key Chinese city.
Senmiao Technology Limited (Nasdaq: AIHS) announced a strategic partnership with Chengdu Rongcheng Yueda Technology Ltd., a state-owned enterprise, to enhance its online ride-hailing services in Chengdu. Under the agreement, Yueda will utilize Senmiao's platform to provide ride-hailing services while managing its own drivers. The partnership began in August 2022 and lasts until July 31, 2023, subject to renewal. This collaboration aims to strengthen Senmiao's competitive edge in the local market by expanding service capacity.
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