Group 1 - The core point of the article highlights the significant stock price increases of several Chinese concept stocks, with notable gains in specific companies [1] Group 2 - BQ (波奇宠物) saw a price increase of 41.54%, closing at 2.760 with a trading volume of 90.9233 million [1] - TAOP (淘屏) experienced a rise of 32.71%, closing at 2.840 with a trading volume of 62.272 million [1] - PMAX (安林财经印刷) increased by 29.71%, closing at 2.270 with a trading volume of 28.241 million [1] - AIHS (森淼科技) rose by 18.49%, closing at 1.410 with a trading volume of 0.0964 million [1] - LOT (路特斯) had a gain of 17.19%, closing at 1.500 with a trading volume of 0.3482 million [1]

Core Points - Senmiao Technology Limited has completed a registered direct offering, selling 1,350,000 shares and pre-funded warrants for a total of approximately $2.8 million before expenses [1][3] - The company plans to issue additional warrants for up to 4,510,000 shares, pending stockholder approval, with an exercise price of $1.26 per share [2][4] - The financing aims to strengthen the company's financial foundation and support its growth strategy, focusing on diversifying revenue streams [3] Offering Details - The shares were sold at a purchase price of $1.26 each, with gross proceeds of about $2.8 million [1] - The offering is conducted under a "shelf" registration statement effective since September 29, 2023, with a prospectus supplement filed on November 14, 2025 [3] - The warrants will be offered under exemptions from registration requirements, and a registration statement for the resale of warrant shares will be filed within 30 days after stockholder approval [4] Company Overview - Senmiao Technology Limited is headquartered in Chengdu, Sichuan Province, and provides automobile transaction services, including sales, financing, and operating leases in China [6]

Financial Performance - Total revenues for the three months ended September 30, 2025, were $936,344, an increase from $745,880 in the same period of 2024, representing a growth of approximately 25.5%[16] - Gross profit for the six months ended September 30, 2025, was $471,043, compared to $349,869 for the same period in 2024, reflecting a year-over-year increase of about 34.7%[16] - The Company reported a gross profit margin of approximately 29.3% for the three months ended September 30, 2025, compared to 13.0% for the same period in 2024[16] - The Company incurred total operating expenses of $1,032,301 for the three months ended September 30, 2025, compared to $712,646 for the same period in 2024, an increase of approximately 45%[16] - The Company recognized a net cash used in operating activities of $(392,547) for the six months ended September 30, 2025, compared to a net cash provided of $192,349 for the same period in 2024[19] - The Company reported a net loss of approximately $1.0 million for the six months ended[32] - The Company recognized a net loss of $723,730 for the three months ended September 30, 2025, compared to a net loss of $238,739 for the same period in 2024, reflecting a significant increase in losses of approximately 203.5%[176] Assets and Liabilities - Total current assets decreased to $2,109,714 as of September 30, 2025, from $2,238,762 as of March 31, 2025, a decline of about 5.8%[14] - Total liabilities as of September 30, 2025, were $4,771,498, down from $5,218,172 as of March 31, 2025, representing a decrease of approximately 8.5%[14] - The total assets decreased to $4,682,368 as of September 30, 2025, from $5,800,792 as of March 31, 2025, reflecting a decline of about 19.3%[15] - The total equity as of September 30, 2025, was $(132,073), a decline from $2,952,520 as of September 30, 2024, reflecting a significant decrease in equity[17] - The company had cash and cash equivalents of $676,980 as of September 30, 2025, down from $833,577 as of March 31, 2025, a decrease of approximately 18.8%[14] Credit Losses and Deficits - The company had a total accumulated deficit of $(45,922,713) as of September 30, 2025, compared to $(42,769,137) as of September 30, 2024, indicating an increase in the accumulated deficit of approximately 5.03%[17] - The allowance for credit losses due from Jinkailong was $5,391,992 as of September 30, 2025[30] - The allowance for credit losses remained unchanged at $17,063,000 as of September 30, 2025, compared to March 31, 2025, after a write-off of $17,210,000 during the six months ended September 30, 2025[105] Revenue Streams - Operating lease revenues from automobile rentals for the six months ended September 30, 2025, were $1,442,918, up 7.6% from $1,340,733 in 2024[75] - Service fees from NEVs leasing increased significantly to $194,559 for the six months ended September 30, 2025, compared to $73,788 in 2024, representing a growth of 163.5%[75] - The company reported revenues of $936,344 from automobile transaction and related services for the three months ended September 30, 2025, compared to $745,880 for the same period in 2024, marking an increase of approximately 25.5%[176] Market and Operational Insights - The online ride-hailing industry in China is projected to grow from RMB354.7 billion in 2024 to RMB751.3 billion by 2028, driven by rising consumer demand for economical mobility options[199] - The total volume of online ride-hailing orders in China decreased by approximately 26% to 758 million in September 2025 compared to the same month in 2024, indicating increased competition and market saturation[200] - Approximately 40% of ride-hailing drivers using the company's services had not obtained the required driver's license as of September 30, 2025, which may impact operations[204] - The company plans to enhance its marketing efforts and strengthen collaborations with automobile dealers to maintain and grow its customer base[189] Future Outlook and Concerns - The company has substantial doubt about its ability to continue as a going concern due to insufficient funds to meet working capital requirements[34] - The company is currently evaluating the impact of new accounting standards effective after December 15, 2026, which may affect its financial statements and disclosures[99] - The company plans to continue focusing on its automobile rental business, expecting it to account for a majority of revenues moving forward[208]

Core Points - Senmiao Technology Limited has entered into a securities purchase agreement with accredited investors for the issuance of 1,350,000 shares of common stock and pre-funded warrants to purchase 905,000 shares at a price of $1.26 per share, resulting in gross proceeds of approximately $2.8 million [1] - The company will also issue warrants to purchase up to 4,510,000 shares of common stock, which will require stockholder approval and have a term of 5.5 years with an exercise price of $1.26 per share [1][4] - The closing of the sale of shares is expected around November 17, 2025, subject to customary closing conditions [1] Company Use of Proceeds - The net proceeds from the offering will be used for general corporate purposes and working capital [2] Regulatory Information - The shares are being offered under a "shelf" registration statement on Form S-3, effective since September 29, 2023, and a prospectus supplement will be filed with the SEC [3] - The warrants and warrant shares will be offered under an exemption from registration requirements of the Securities Act, and a registration statement on Form S-1 will be filed for the resale of warrant shares within 30 days after the special meeting [4] Company Overview - Senmiao Technology Limited, headquartered in Chengdu, Sichuan Province, provides automobile transaction and related services, including sales of automobiles, financing facilitation, management, operating leases, and guarantees in China [6]

Core Insights - Premarket trading is showing notable activity with early price movements indicating potential opportunities before the market opens [1] Premarket Gainers - Galaxy Payroll Group Limited (GLXG) increased by 39% to $5.34 - Lithium Americas Corp. (LAC) rose by 31% to $7.52 - Senmiao Technology Limited (AIHS) gained 22% to $2.45 - The AES Corporation (AES) saw a 10% increase to $14.53 - Strive, Inc. (ASST) also increased by 10% to $2.77 - Shoulder Innovations, Inc. (SI) rose by 9% to $13.78 - Top KingWin Ltd (WAI) increased by 8% to $3.80 - Southland Holdings, Inc. (SLND) saw a 7% increase to $4.61 - CaliberCos Inc. (CWD) rose by 6% to $4.75 - Mannatech, Incorporated (MTEX) increased by 5% to $10.53 [3] Premarket Losers - Real Messenger Corporation (RMSG) decreased by 16% to $2.01 - Etoiles Capital Group Co., Ltd (EFTY) fell by 14% to $14.45 - Enanta Pharmaceuticals, Inc. (ENTA) dropped by 13% to $10.41 - CollPlant Biotechnologies Ltd. (CLGN) saw an 11% decrease to $2.39 - Fortress Biotech, Inc. (FBIO) declined by 10% to $3.30 - Uni-Fuels Holdings Limited (UFG) fell by 9% to $7.52 - Alset Inc. (AEI) decreased by 9% to $2.30 - JFB Construction Holdings (JFB) saw a 5% decline to $12.20 - SHF Holdings, Inc. (SHFS) dropped by 5% to $6.80 - Phio Pharmaceuticals Corp. (PHIO) decreased by 5% to $2.34 [4]

Core Insights - Chinese concept stocks experienced significant gains, with ChowChow Cloud Inte leading the surge at 215.25% increase [1] Group 1: Stock Performance - ChowChow Cloud Inte saw a closing price of 12.610, with a rise of 215.25%, translating to an increase of 8.610 and a trading volume of 20.6982 million [1] - CheChe Technology recorded a 27.12% increase, closing at 1.500, up by 0.320, with a trading volume of 2.3821 million [1] - Carbon Doctor Holdings increased by 24.87%, closing at 2.360, with an increase of 0.470 and a trading volume of 35.2056 million [1] - Senmiao Technology rose by 24.19%, closing at 2.670, up by 0.520, with a trading volume of 152 million [1] - Mercurity Fintech experienced an 18.80% increase, closing at 9.540, with an increase of 1.510 and a trading volume of 1.7784 million [1]

Core Viewpoint - Premarket trading is showing notable activity with significant price movements indicating potential investment opportunities before the market opens [1] Premarket Gainers - FGI Industries Ltd. (FGI) is up 278% at $15.02 [3] - Senmiao Technology Limited (AIHS) is up 96% at $4.22 [3] - Conifer Holdings, Inc. (CNFR) is up 86% at $2.11 [3] - WEBTOON Entertainment Inc. (WBTN) is up 39% at $20.81 [3] - Nukkleus Inc. (NUKK) is up 18% at $6.08 [3] - Tantech Holdings Ltd (TANH) is up 12% at $2.13 [3] - Check-Cap Ltd. (CHEK) is up 9% at $2.33 [3] - Ivanhoe Electric Inc. (IE) is up 8% at $9.71 [3] - Wolfspeed, Inc. (WOLF) is up 8% at $3.21 [3] - Bolt Projects Holdings, Inc. (BSLK) is up 5% at $3.95 [3] Premarket Losers - Envirotech Vehicles, Inc. (EVTV) is down 17% at $2.27 [4] - Dave & Buster's Entertainment, Inc. (PLAY) is down 15% at $20.40 [4] - NanoVibronix, Inc. (NAOV) is down 12% at $9.37 [4] - ADTRAN Holdings, Inc. (ADTN) is down 10% at $9.37 [4] - Rain Enhancement Technologies Holdco, Inc. (RAIN) is down 10% at $6.00 [4] - CNS Pharmaceuticals, Inc. (CNSP) is down 7% at $8.50 [4] - AVITA Medical, Inc. (RCEL) is down 7% at $6.22 [4] - Vince Holding Corp. (VNCE) is down 7% at $2.60 [4] - Monte Rosa Therapeutics, Inc. (GLUE) is down 6% at $6.50 [4] - Meiwu Technology Company Limited (WNW) is down 6% at $2.06 [4]

Group 1 - The top five gaining Chinese concept stocks at the close were: Senmiao Technology up 61.25%, Roma Green Finance up 38.83%, Four Seasons Education up 29.18%, Nature Forestry up 23.3%, and Changwei Automotive up 20.75% [1] - Senmiao Technology (AIHS) closed at 3.870 with a gain of 61.25%, increasing by 1.470, and had a trading volume of 1.025 billion [1] - Roma Green Finance (ROMA) closed at 2.485 with a gain of 38.83%, increasing by 0.695, and had a trading volume of 307.6 thousand [1] - Four Seasons Education (FEDU) closed at 14.210 with a gain of 29.18%, increasing by 3.210, and had a trading volume of 427.2 thousand [1] - Nature Forestry (NWGL) closed at 1.270 with a gain of 23.30%, increasing by 0.240, and had a trading volume of 192.34 thousand [1] - Changwei Automotive (AIEV) closed at 0.1100 with a gain of 20.75%, increasing by 0.0189, and had a trading volume of 8.188 thousand [1]

Core Viewpoint - Senmiao Technology (AIHS.US) experienced a significant increase of nearly 130%, reaching a price of $5.43, indicating strong market interest and potential growth in the fintech sector [1] Company Overview - Senmiao Technology is a comprehensive fintech company focusing on internet finance and automotive finance [1] - The company aims to provide intermediary services for freelancers, individual businesses, and small enterprises, addressing financing challenges [1] Business Model - The business model is built around scenario-based, small-scale, and decentralized transactions [1] - Current business types include ride-hailing vehicle leasing, automotive consumption installment, small business loans, personal consumption loans, dealer loans, and supply chain finance [1]

Core Viewpoint - Senmiao Technology (AIHS.US) experienced a significant increase of nearly 130%, reaching a price of $5.43, indicating strong market interest and potential growth in the fintech sector [1] Company Overview - Senmiao Technology is a comprehensive fintech company focusing on internet finance and automotive finance [1] - The company aims to provide intermediary services for freelancers, individual businesses, and small enterprises, addressing their financing challenges [1] Business Model - The business model is built around scenario-based, small-scale, and decentralized transactions [1] - Current business types include ride-hailing vehicle leasing, automotive consumption installment, small business loans, personal consumption loans, dealer loans, and supply chain finance [1]