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Senmiao Technology (AIHS) delays Q2 10-Q but projects smaller loss

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
NT 10-Q

Rhea-AI Filing Summary

Senmiao Technology Limited filed a notification that its Quarterly Report on Form 10‑Q for the period ended June 30, 2025 will be filed late. The company needs additional time to complete certain disclosures and says the work could not be finished without undue hardship and expense, partly due to a prior corporate structure change and the disposal of a subsidiary in August 2024. It expects to file the 10‑Q within five calendar days of the original due date.

Management provides preliminary estimates that, for the three months ended June 30, 2025, total other income, net, rose to about $0.33 million from about $0.04 million a year earlier. Loss from operations narrowed to about $0.61 million from about $0.78 million, net loss decreased to about $0.28 million from about $0.76 million, and comprehensive loss decreased to about $0.32 million from about $0.80 million. Comparative figures tied to the disposed subsidiary are being reclassified to discontinued operations.

Positive

  • None.

Negative

  • None.

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 12b-25

 

NOTIFICATION OF LATE FILING

 

(Check One):   ¨ Form 10-K     ¨ Form 20-F     ¨ Form 11-K     x Form 10-Q     ¨ Form 10-D

¨ Form N-CEN    ¨ Form N-CSR

 

For Period Ended: June 30, 2025

 

  ¨ Transition Report on Form 10-K

 

  ¨ Transition Report on Form 20-F

 

  ¨ Transition Report on Form 11-K

 

  ¨ Transition Report on Form 10-Q

 

For the Transition Period Ended: _____________________________________

 

Read Instructions (on back page) Before Preparing Form. Please Print or Type.

Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.

 

If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates:

 

 

 

PART I – REGISTRANT INFORMATION

 

Senmiao Technology Limited

Full Name of Registrant:

 

N/A

Former Name if Applicable:

 

16F, Shihao Square, Middle Jiannan Blvd., High-Tech Zone

Address of Principal Executive Office (Street and number):

 

Chengdu, Sichuan, China 610000

City, State and Zip Code

 

PART II – RULES 12b-25(b) AND (c)

 

If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed (Check box if appropriate)

 

  (a)   The reasons described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;
 

 

 

(b)

 

 

The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-CEN or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and

       
  (c)   The accountant’s statement or other exhibit required by Rule 12(b)-25(c) has been attached if applicable.

 

 

 

 

PART III – NARRATIVE

 

State below in reasonable detail why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-CEN, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.

 

Senmiao Technology Limited (the “Registrant”) requires additional time to complete certain disclosures to be included in the Quarterly Report on Form 10-Q for the fiscal period ended June 30, 2025 (the “Form 10-Q”). The preparation and review of such disclosures required to be presented in the Form 10-Q could not be completed and filed by the Registrant without undue hardship and expense to the Registrant due in part to the circumstances described in Part IV below. The Registrant expects to file the Form 10-Q on or before the fifth calendar day following the prescribed due date.

 

PART IV – OTHER INFORMATION

 

(1) Name and telephone number of person to contact in regard to this notification:

 

  Xi Wen   +86 28   61554399
  (Name)   (Area Code)   (Telephone Number)

  

(2) Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If answer is no, identify report(s).

 

☒ Yes ☐ No

 

(3) Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof?

 Yes  No

 

If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made. 

 

As the registrant completed a corporate structure change, disposing of one of its subsidiaries in August 2024, the comparative financial figures in relation to operations under the disposed subsidiary in the fiscal period ended June 30, 2025 was reclassified to items named “XXXX-discontinued operations”. Management’s current reasonable estimates of the results of operation are as follows, which are subject to change upon the completion of the financial statements: (i) total other income, net, increased to approximately $0.33 million for the three months ended June 30, 2025 from approximately $0.04 million for the three months ended June 30, 2024; (ii) loss from operations decreased to approximately $0.61 million for three months ended June 30, 2025 from approximately $0.78 million for the three months ended June 30, 2024; (iii) net loss decreased to approximately $0.28 million for the three months ended June 30, 2025 from approximately $0.76 million for the three months ended June 30, 2024; and (iv) comprehensive loss decreased to approximately $0.32 million for the three months ended June 30, 2025 from approximately $0.80 million for the three months ended June 30, 2024. Additional narrative and quantitative disclosure regarding the registrant’s results of operations for the three months ended June 30, 2025 will be disclosed in the registrant’s Quarterly Report on Form 10-Q.

 

2

 

 

  Senmiao Technology Limited  
  (Name of Registrant as Specified in Charter)  

 

has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: August 15, 2025 By: /s/ Xi Wen
    Name: Xi Wen 
   

Title:

Chief Executive Officer

(Principal Executive Officer)

 

ATTENTION

 

Intentional misstatements or omissions of fact constitute Federal criminal violations. (See 18 U.S.C. 1001).

 

 

 

3

 

 

FAQ

Why did Senmiao Technology Limited (AIHS) delay its Q2 2025 Form 10-Q?

The company states it requires additional time to complete certain disclosures for the Form 10‑Q for the period ended June 30, 2025, and that doing so by the original deadline would have caused undue hardship and expense.

When does Senmiao Technology expect to file its delayed Q2 2025 Form 10-Q?

Senmiao Technology expects to file the Form 10‑Q on or before the fifth calendar day following the prescribed due date for the report.

Did Senmiao Technology indicate significant changes in results versus last year?

Yes. The company anticipates significant changes in results of operations for the three months ended June 30, 2025 compared with the same period in 2024 and provides preliminary estimates of improved results.

What preliminary net loss figures did Senmiao Technology provide for Q2 2025?

Management currently estimates net loss of approximately $0.28 million for the three months ended June 30, 2025, compared with approximately $0.76 million for the same period in 2024.

How did Senmiao Technology’s operating loss change in the preliminary Q2 2025 figures?

Loss from operations is estimated to have decreased to about $0.61 million for the three months ended June 30, 2025 from about $0.78 million for the three months ended June 30, 2024.

What corporate structure change affected Senmiao Technology’s Q2 2025 comparisons?

The company completed a corporate structure change by disposing of one of its subsidiaries in August 2024, causing comparative financial figures for that subsidiary’s operations to be reclassified to discontinued operations in the June 30, 2025 period.

How did total other income, net, change in Senmiao Technology’s preliminary Q2 2025 results?

Total other income, net, is estimated to have increased to about $0.33 million for the three months ended June 30, 2025 from about $0.04 million for the three months ended June 30, 2024.