Senmiao reports July completed orders 690,000 vs. 740,000 in June

Senmiao Technology announced the operating metrics for its proprietary online ride-hailing platform for the month of July. In July Senmiao and its affiliates recorded 690,000 total completed orders, compared to 740,000 total orders completed in June. The decrease was primarily a result of a compliance check performed by Gaode, Senmiao’s online ride-hailing platform partner under the original model, which caused a decrease in completed orders in Senmiao’s major market of Guangzhou during the period. The Company expects the number of rides from Gaode to normalize in late August. Numbers reported include the number of completed orders from several ride-hailing platforms in Chengdu, utilizing Senmiao’s network of cars and drivers for a set monthly fee.