Senmiao Technology Announces Ride-Hailing Platform Operating Metrics for October 2021

CHENGDU, China, Nov. 12, 2021 /PRNewswire/ -- 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 2021. In October 2021, Senmiao reported over 1.0 million total completed orders, a 1.6% increase from September 2021. Numbers reported in August, September, and October 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.

Since the launch of Senmiao's online ride-hailing platform in October 2020, approximately 13.8 million rides have been completed using its platform. Over 1.4 million rides have been completed on the Major Platform under Senmiao's new partnership with Meituan, which commenced in August 2021. The number of drivers completing rides via the platform (known as Active Drivers) in October 2021 was over 7,000, a decrease of approximately 7% from September 2021.

The table below presents approximate unaudited operating metrics of Senmiao's online ride-hailing platform since its launch in October 2020.

About Senmiao Technology Limited

Headquartered in Chengdu, Sichuan Province, Senmiao provides automobile transaction and related services including sales of automobiles, facilitation and services for automobile purchase and financing, management, operating lease, guarantee and other automobile transaction services as well as operates its own ride-hailing platform aimed principally at the growing online ride-hailing market in Senmiao's areas of operation in China. For more information about Senmiao, please visit: https://www.senmiaotech.com. Senmiao routinely provides important updates on its website.

Cautionary Note Regarding Forward-Looking Statements 

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements (including those relating to the operation of Senmiao's ride-hailing platform) are subject to significant risks, uncertainties and assumptions, including those detailed from time to time in the Senmiao's filings with the SEC, and represent Senmiao's views only as of the date they are made and should not be relied upon as representing Senmiao's views as of any subsequent date. Senmiao undertakes no obligation to publicly revise any forward-looking statements to reflect changes in events or circumstances. 

For more information, please contact:

At the Company:

Yiye Zhou
Email: edom333@ihongsen.com
Phone: +86 28 6155 4399

Investor Relations:

The Equity Group Inc.  
Carolyne Sohn, Vice President
+1 415-568-2255
csohn@equityny.com                                                                      

In China
Lucy Ma, Associate
+86 10 5661 7012
lma@equityny.com

© 2021 Senmiao Technology Ltd. All rights reserved.

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SOURCE Senmiao Technology Limited