Streetbeat News

AIHS

Senmiao Technology Limited

https://www.senmiaotech.com

Industry

Financial - Credit Services

Senmiao Technology Limited engages in the automobile transaction and related services business in the People's Republic of China. The company offers car rental services to individual customers; and auto finance solutions through financing leases. It also engages in automobile sales; the facilitation of automobile transaction and financing; and the provision of supporting services provided to online ride-hailing drivers, as well as management and guarantee services. The company was founded in 2014 and is headquartered in Chengdu, the People's Republic of China.

Open

0.95

Mkt cap

9.8M

Volume

706

High

0.95

P/E Ratio

-2.21

52-wk high

1.45

Low

0.93

Div yield

N/A

52-wk low

0.20

Senmiao Technology Limited (NASDAQ:AIHS) reported a slight decrease in total completed orders for its online ride-hailing platform in September 2023, with 0.61 million orders compared to 0.62 million in August 2023. The decrease was primarily due to a drop in completed orders from partner platforms under a new model, partially offset by an increase in completed orders by Senmiao's own platform. The number of active drivers increased from 5,412 in August to 6,065 in September.

Portfolio Pulse from Happy Mohamed

October 23, 2023 | 1:19 pm

Senmiao Technology Limited (AIHS) has signed a strategic cooperation agreement with Sichuan Xingyuan Ronghe New Energy Co., Ltd. The agreement will see Xingyuan provide comprehensive financing solutions for Senmiao and its partners, as well as resources such as discounted NEV purchasing channels and new energy battery swapping vehicle operations. This is expected to accelerate the growth of Senmiao's automobile rental business and online ride-hailing platform services.