Senmiao Technology Announces Ride-Hailing Platform Operating Metrics for November 2023 - Thailand PR News - [Banking](https://thailandbusinessnews.net/category/banking/) - [Companies](https://thailandbusinessnews.net/category/companies/) - [Economy](https://thailandbusinessnews.net/category/economy/) - [Press Releases](https://thailandbusinessnews.net/category/press-release/) - [PR Newswire](https://thailandbusinessnews.net/pr-newswire-updates/) - [Tech](https://thailandbusinessnews.net/category/tech/) - [Tourism](https://thailandbusinessnews.net/category/tourism/) - [Press Release](https://thailandbusinessnews.net/category/press-release/) - [Tech](https://thailandbusinessnews.net/category/tech/) # Senmiao Technology Announces Ride-Hailing Platform Operating Metrics for November 2023 ##### Up next ![E-Home Household Services Holdings Limited Signs New Property Cleaning Contracts with a Total Value of Over RMB 19 Million in the 4th Quarter of 2023](https://i0.wp.com/thailandbusinessnews.net/wp-content/uploads/2023/10/WuXi-Biologics-Congratulates-Amicus-Therapeutics-on-US-FDA-Approval-for.png?resize=200%2C110&ssl=1 "E-Home Household Services Holdings Limited Signs New Property Cleaning Contracts with a Total Value of Over RMB 19 Million in the 4th Quarter of 2023") [](https://thailandbusinessnews.net/press-release/e-home-household-services-holdings-limited-signs-new-property-cleaning-contracts-with-a-total-value-of-over-rmb-19-million-in-the-4th-quarter-of-2023/) ###### [E-Home Household Services Holdings Limited Signs New Property Cleaning Contracts with a Total Value of Over RMB 19 Million in the 4th Quarter of 2023](https://thailandbusinessnews.net/press-release/e-home-household-services-holdings-limited-signs-new-property-cleaning-contracts-with-a-total-value-of-over-rmb-19-million-in-the-4th-quarter-of-2023/) Published on 13 December 2023 ##### Author ##### [ CISION PRNewswire ](https://thailandbusinessnews.net/author/cision/) ##### Tags - [PRNewswire](https://thailandbusinessnews.net/tag/prnewswire/) CHENGDU, China, Dec. 13, 2023 /PRNewswire/ — Senmiao Technology Limited ("Senmiao" or the "Company") (Nasdaq: AIHS), a financing and servicing company focused on the online ride-hailing industry in China as well as an operator of its own online ride-hailing platform, today 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 0.48 million total completed orders, compared to approximately 0.57 million 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 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 25.8 million rides have been completed using its own platform. More than 9.1 million 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 (known as Active Drivers) in November 2023 was 5,240, compared to 5,903 in October 2023. The table below presents approximate unaudited operating metrics of Senmiao and its affiliates’ online ride-hailing platform since the launch in October 2020. Completed Orders under Original Model1 (in 000s) CompletedOrders under New Model2, 3 (in 000s) Total CompletedOrders (in 000s) Total FaresPaid by Riders (in 000s USD$) Active Drivers Oct-Dec 2020 1,318 1,318 4,039 N/A Jan-Dec 2021 13,360 2,485 15,845 49,505 N/A Jan 2022 455 492 947 3,413 7,085 Feb 2022 344 371 715 2,651 6,008 Mar 2022 534 480 1,014 3,660 7,091 Apr 2022 502 369 871 3,009 6,095 May 2022 581 357 938 3,286 5,989 June 2022 602 319 921 3,290 5,862 July 2022 636 337 973 3,504 5,928 Aug 2022 617 400 1,017 3,583 6,778 Sept 2022 414 114 528 1,712 6,030 Oct 2022 600 306 906 2,794 7,574 Nov 2022 456 298 754 2,267 7,019 Dec 2022 390 267 657 1,973 6,682 Jan 2023 338 239 577 1,928 4,830 Feb 2023 460 276 736 2,328 5,973 Mar 2023 522 313 835 2,614 7,092 Apr 2023 600 256 856 2,748 7,422 May 2023 538 229 767 2,449 7,470 June 2023 524 216 740 2,322 6,891 July 2023 440 250 690 2,205 5,815 Aug 2023 384 233 617 1,962 5,412 Sept 2023 405 201 606 1,892 6,065 Oct 2023 399 170 569 1,731 5,903 Nov 2023 359 125 484 1,448 5,240 Cumulative 25,778 9,103 34,881 112,313 N/A 1 Under the original model, orders coming from partner platforms are completed by Senmiao’s own platform. A rider can search for taxi/ride-hailing services on Senmiao’s partner platforms, which then provide the rider with options for online ride-sharing service providers, including Senmiao. If the rider selects Senmiao, the order will then be distributed to registered drivers on Senmiao’s own platform for viewing and acceptance and then completed by Active Drivers. Senmiao earns commissions for each completed order based on a certain percentage of the value of the order. 2 Under the new model, orders go through partner platforms but do not utilize Senmiao’s own platform. Online ride-hailing requests and orders will be completed on the partner platforms utilizing Senmiao and its affiliates’ network of cars and drivers for a set monthly fee. 3 New model commenced in August 2021. About Senmiao Technology Limited Headquartered in Chengdu, Sichuan Province, Senmiao provides automobile transaction and related services including sales of automobiles, facilitation and services for automobile purchases and financing, management, operating leases, guarantees and other automobile transaction services, as well as operates its own ride-hailing platform aimed principally at the growing online ride-hailing market in Senmiao’s areas of operation in China. For more information about Senmiao, please visit: [http://www.senmiaotech.com](http://www.senmiaotech.com/). Senmiao routinely provides important updates on its website. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements (including those relating to the operation of Senmiao’s ride-hailing platform) are subject to significant risks, uncertainties and assumptions, including those detailed from time to time in the Senmiao’s filings with the SEC, and represent Senmiao’s views only as of the date they are made and should not be relied upon as representing Senmiao’s views as of any subsequent date. Senmiao undertakes no obligation to publicly revise any forward-looking statements to reflect changes in events or circumstances. For more information, please contact: At the Company: Yiye ZhouEmail: Phone: +86 28 6155 4399 Investor Relations: The Equity Group Inc. Carolyne Sohn, Vice President+1 408-538-4577 In ChinaLucy Ma, Associate+86 10 5661 7012 Alice Zhang, Associate+1 212-836-9610 © 2023 Senmiao Technology Ltd. All rights reserved. [Source link ](https://www.prnasia.com/story/archive/4292191_CN92191_0?rand=89749) ``` This content was prepared by our news partner, Cision PR Newswire. 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