Welcome to our dedicated page for Senmiao Technology SEC filings (Ticker: AIHS), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Senmiao Technology Limited filings document material events for a Nevada issuer with Nasdaq-listed common stock under AIHS. The company’s Form 8-K disclosures cover capital-structure actions, securities purchase agreements, registered direct offerings, unregistered equity issuances, and Nasdaq continued-listing compliance matters.
The filing record also documents governance changes involving directors and executive officers, employment agreements, board committee assignments, and material agreements. Recent disclosures describe the completed disposition of subsidiaries associated with automobile transaction services for the online ride-hailing industry, including the assets, obligations, valuation support, and compliance effects reported by the company.
Senmiao Technology Limited filed an update on its Nasdaq listing status. In December 2025, Nasdaq notified the company that it was not meeting the required minimum stockholders’ equity of $2,500,000 under Rule 5550(b)(1), after reporting stockholders’ equity of ($132,073) as of September 30, 2025 and not satisfying alternative standards for market value or net income as of November 30, 2025.
On December 31, 2025, Senmiao entered into an acquisition agreement to spin off 100% of the equity interests of its subsidiaries Yicheng and Zecheng to Hu Mao Sheng Tang Holdings Limited, and reported completion of this disposition in a compliance plan submitted to Nasdaq on January 15, 2026. The company believes that, following this transaction, it now exceeds the $2,500,000 stockholders’ equity requirement and has regained compliance, although Nasdaq will continue to monitor its status and may delist the company if its Form 10-Q for the period ended December 31, 2025 does not demonstrate compliance.
Senmiao Technology Limited reported that its board appointed Yafeng Li as Chief Financial Officer on January 2, 2026, filling the vacancy created by the resignation of former CFO Xiaoyuan Zhang. Under an employment agreement dated the same day, Ms. Li will receive an annual salary of $50,000 for her services as CFO.
Ms. Li previously served as Financial Controller of World Trade Technology LLC since May 2020 and holds several professional certifications, including Certified Internal Auditor, Certified Management Accountant, and Certified Tax Agent (China). She earned a bachelor’s degree in accounting from Shanxi University. The company states there are no family relationships or related-party transactions involving Ms. Li that require disclosure.
Senmiao Technology Limited agreed to dispose of its two wholly owned subsidiaries, Sichuan Senmiao Yicheng Asset Management and Sichuan Senmiao Zecheng Business Consulting, which had accumulated losses of approximately $11 million as of September 30, 2025. Under an Acquisition Agreement dated December 31, 2025, the company will transfer 100% of the equity in both entities to Hu Mao Sheng Tang Holdings Limited, a non-affiliated Hong Kong buyer, for no additional consideration.
After closing, the purchaser will become sole shareholder of both subsidiaries and assume all of their assets and obligations. The board approved the deal based on a third-party valuation report concluding that a sale for no additional consideration is consistent with the subsidiaries’ fair market value. Separately, effective December 31, 2025, Chief Financial Officer and Treasurer Ms. Xiaoyuan Zhang resigned, with the company stating her departure was not due to any disagreement over accounting, operations, policies, or practices.
Senmiao Technology Limited (AIHS) reported several leadership and board changes. Effective November 25, 2025, director Sichun Wang resigned from the board and from her roles as chair of the audit committee and member of the compensation and nominating committees; her resignation was stated to be not due to any disagreement with the company on accounting, operations, policies, or practices.
The board appointed Si (Simon) Li as an independent director, chairman of the audit committee, and member of the compensation and nominating committees, with annual compensation of $30,000. It also appointed Chong Chen as an independent director, member of the compensation and audit committees, and chairman of the nominating committee, also with annual compensation of $30,000.
Separately, the board appointed Ronggang (Jonathan) Zhang as Chief Executive Officer, executive director, and chairman of the board, replacing a previously disclosed resignation. His annual compensation will be $50,000. The company states there are no family relationships or related-party transactions requiring disclosure for any of the appointees.
Senmiao Technology Limited (AIHS) reported major leadership changes. Effective November 21, 2025, Wen Xi resigned as Chief Executive Officer and Chairman of the Board, and Trent D. Davis resigned as a director, with his resignation effective immediately.
The company states that both Mr. Wen and Mr. Davis resigned for personal reasons and that their decisions were not due to any disagreement with Senmiao on operations, policies, or practices. The company expressed appreciation for their years of service.
Senmiao Technology Limited (AIHS) reported that it has completed a registered direct offering, as announced in a press release dated November 20, 2025. The related exhibit describes this as a $2.8 million registered direct offering, indicating that the company has raised new capital through the sale of its securities directly to investors under an effective registration. Details such as the securities sold, pricing, and specific use of proceeds are contained in the referenced press release, which is incorporated by reference into this report.
Senmiao Technology Limited (AIHS) reported continued losses and tight liquidity for the six months ended September 30, 2025. Total revenues from automobile transaction and related services were $1.8 million, up slightly from $1.6 million a year earlier, driven mainly by operating lease revenues of $1.44 million. Despite this, the company recorded a net loss of $1.0 million and an accumulated deficit of about $45.9 million.
As of September 30, 2025, Senmiao had total assets of $4.7 million and a working capital deficit of roughly $2.6 million, with current liabilities exceeding current assets and total liabilities above total assets, resulting in a small negative equity position. Management concludes there is substantial doubt about the company’s ability to continue as a going concern, even after completing a financing of $0.66 million and expecting another $2.8 million by November 21, 2025, because anticipated cash outflows and planned payable settlements are still likely to outstrip available resources.
Senmiao Technology Limited (AIHS) reported it entered a securities purchase agreement with certain non-U.S. investors to sell an aggregate of 500,000 shares of its common stock at $1.32 per share. This unregistered Regulation S offering generated $660,000 in gross proceeds for the company before customary expenses and closed on November 14, 2025.
In a related move, Senmiao also issued 200,000 shares of common stock to a consultant in exchange for services. Both the investor shares and the consultant shares were issued outside U.S. registration requirements under the Securities Act using Regulation S, and the company noted that this disclosure does not constitute an offer to sell or a solicitation to buy these securities.
Senmiao Technology Limited (AIHS) launched a registered direct offering of 1,350,000 shares of Common Stock and pre-funded warrants for 905,000 shares at $1.26 per share. The transaction totals $2,841,300 in gross proceeds, with estimated net proceeds of approximately $2.76 million after offering expenses of about $80,000. The company plans to use proceeds for working capital and general corporate purposes.
In a separate private placement, Senmiao may issue warrants for up to 4,510,000 shares, subject to stockholder approval at a special meeting within 45 days of closing. If approved, the warrants are exercisable immediately at $1.26 and expire 5.5 years from the Initial Issuance Date; they carry 4.99% (or 9.99% upon election) beneficial ownership limits and are not registered in this offering. Shares outstanding were 3,207,489 prior to the offering and would be 5,462,489 assuming full exercise of the pre-funded warrants.
Senmiao Technology Limited (AIHS) reported continued operating losses and balance-sheet strain. The company recorded a net loss of $276,438 for the period (also presented as $735,885 in another column), revenues are reported under automobile transaction and related services with line items such as NEV leasing service fees of $83,444 and financing revenues near $22,331. Total cash, cash equivalents and restricted cash at period end were $867,767. The company disclosed an accumulated deficit of approximately $45.3 million and a working capital deficit of about $2.5 million. Significant related-party receivables from Jinkailong total over $1.1 million to $1.4 million classified as non-current. Management cites sources of liquidity including equity financing, PRC bank debt and related-party support, and discloses material weaknesses in accounting personnel, internal audit and IT general controls. The filing notes retroactive adjustments for twice 1-for-10 reverse stock splits and outstanding convertible preferred shares, warrants and RSUs.