Senmiao Technology reports January operating metrics for ride-hailing platform

Senmiao Technology reported operating metrics for its proprietary online ride-hailing platform for January 2023. In January 2023, Senmiao and its affiliates recorded approximately 0.6 million total completed orders, compared to approximately 0.7 million total orders completed in December 2022. The change was primarily the result of seasonality driven by the Lunar New Year holiday in China, which led to decreased demand for online ride-hailing services and fewer active drivers in late January 2023. Since the launch of Senmiao’s online ride-hailing platform in October 2020, over 21.1 million rides have been completed using its own platform. Approximately 5.3 million rides have been completed on the Meituan platform under Senmiao’s partnership with Meituan since August 2021. Over 1.5 million rides have been completed on Xiehua, Anma and other platforms since April 2022. The number of drivers completing rides via all the platforms in January 2023 was 4,830, down approximately 27.7% from 6,682 in December 2022.