Senmiao Technology reports ride-hailing platform metrics for November

Senmiao Technology announced the operating metrics for its proprietary online ride-hailing platform for the month of November 2023. In November 2023, Senmiao and its affiliates recorded more than 0.48M total completed orders, compared to approximately 0.57M total orders completed in October 2023. The decrease was primarily a result of reduced demand for online ride-hailing services in a softer economic environment, as well as the ongoing impact of the compliance checks by Gaode, Senmiao’s online ride-hailing platform partner under the original model, in Chengdu, one of the main cities where Senmiao operates. Numbers reported include the number of completed orders from several ride-hailing platform partners in Chengdu, 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 25.8M rides have been completed using its own platform. More than 9.1M rides have been completed on several platforms in partnership with Senmiao under the new model3. The number of drivers completing rides via all the platforms in November 2023 was 5,240, compared to 5,903 in October 2023.