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 October 2022. In October 2022, Senmiao and its affiliates reported over 0.9 million total completed orders, a 71.6% increase from over 0.5 million total orders completed in September 2022, as a result of online ride-hailing service restrictions being lifted following their suspension in Chengdu in the first half of September 2022.
Numbers reported since August 2021 include the number of completed orders from Meituan’s ride-hailing platform (“the Major Platform”) utilizing Senmiao’s network of cars and drivers for a set monthly fee. Numbers reported since April 2022 include the number of completed orders from three other ride-hailing platforms in Chengdu, Xiehua, Anma and Xiaoma, under the same cooperation model as Meituan.
Since the launch of Senmiao’s online ride-hailing platform in October 2020, nearly 20.0 million rides have been completed using its platform. Over 5.0 million rides have been completed on the Major Platform under Senmiao’s partnership with Meituan since August 2021. Over 1.0 million rides have been completed on Xiehua, Anma and Xiaoma since April 2022. The number of drivers completing rides via the platforms (known as Active Drivers) in October 2022 was 7,574, up approximately 25.6% from 6,030 in September 2022.
The table below presents approximate unaudited operating metrics of Senmiao and its affiliates’ online ride-hailing platform since its launch in October 2020.
|
Completed Orders under Old Model[1] (in 000s) |
Completed Orders under New Model[2] (in 000s) |
Total Completed Orders (in 000s) |
Total Fares Paid by Riders (in 000s USD$) |
Active Drivers |
||||||
|
Oct 2020 |
161 |
161 |
531 |
1,800 |
||||||
|
Nov 2020 |
537 |
537 |
1,646 |
3,400 |
||||||
|
Dec 2020 |
620 |
620 |
1,862 |
5,000 |
||||||
|
Jan 2021 |
910 |
910 |
2,626 |
8,300 |
||||||
|
Feb 2021 |
710 |
710 |
2,164 |
7,000 |
||||||
|
Mar 2021 |
1,540 |
1,540 |
4,492 |
11,500 |
||||||
|
Apr 2021 |
1,790 |
1,790 |
5,332 |
16,500 |
||||||
|
May 2021 |
2,154 |
2,154 |
6,376 |
18,000 |
||||||
|
Jun 2021 |
2,068 |
2,068 |
6,193 |
18,500 |
||||||
|
Jul 2021 |
1,659 |
1,659 |
4,864 |
16,400 |
||||||
|
Aug 2021 |
530 |
432 |
962 |
3,001 |
6,073 |
|||||
|
Sep 2021 |
540 |
480 |
1,020 |
3,653 |
7,519 |
|||||
|
Oct 2021 |
531 |
505 |
1,036 |
3,780 |
7,010 |
|||||
|
Nov 2021 |
436 |
497 |
933 |
3,236 |
7,480 |
|||||
|
Dec 2021 |
492 |
571 |
1,063 |
3,788 |
7,845 |
|||||
|
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 |
|||||
|
Cumulative |
19,963 |
6,030 |
25,993 |
84,446 |
N/A |
| [1] Under the old model, a rider can search for taxi/ride-hailing services on a Senmiao partner’s platform, which then provides the rider with options for online ride-sharing service providers, including Senmiao. If the rider selects Senmiao, the order will then be distributed to registered drivers on Senmiao’s platform for viewing and acceptance. Senmiao earns commissions for each completed order based on a certain percentage of the value of the order. |
| [2] Under the new model, online ride-hailing requests and orders will be completed on the partner’s platform utilizing Senmiao and its affiliates’ network of cars and drivers for a set monthly fee. Starting from April 2022, the number includes orders completed on the Xiehua, Anma and Xiaoma platforms, in addition to those completed on the Major Platform since August 2021. |
