Senmiao Technology reports ride-hailing platform metrics for October

Senmiao Technology announced the operating metrics for its proprietary online ride-hailing platform for the month of October 2023. In October 2023, Senmiao and its affiliates recorded 0.57M total completed orders, compared to 0.61M total orders completed in September 2023. The decrease was primarily a result of increased competition and the impact of a compliance check performed by Gaode, Senmiao’s online ride-hailing platform partner under the original model1, 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 25.4M rides have been completed using its own platform. Nearly 9M 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 October 2023 was 5,903, compared to 6,065 in September 2023.