Benzinga | Dec 6, 2021 09:31AM EST

Senmiao Technology Reports In Nov. 2021 Completed 900K Total Completed Orders Vs Over 1M In Oct. 2021

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 November 2021. In November 2021, Senmiao reported over 0.9 million total completed orders, a decrease from over 1.0 million total orders completed in October 2021, due to a resurgence of COVID-19 cases in Chengdu in November, which led to travel restrictions and lockdowns being implemented. 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.

Since the launch of Senmiao's online ride-hailing platform in October 2020, approximately 14.2 million rides have been completed using its platform. Over 1.9 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 November 2021 was 7,480, an increase of approximately 7% from October 2021.

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