Senmiao Technology Announces Ride-Hailing Platform Operating Metrics for December 2023

Core Viewpoint - Senmiao Technology Limited reported a 13.6% increase in completed orders for its online ride-hailing platform in December 2023, reaching approximately 0.55 million orders, attributed to a strategic partnership with Anhui Lianma Technology [1][2]. Group 1: Operating Metrics - In December 2023, Senmiao and its affiliates completed approximately 0.55 million total orders, up from 0.48 million in November 2023 [1]. - Since the launch of its platform in October 2020, Senmiao has completed over 26.2 million rides, with approximately 9.2 million rides completed through partner platforms under a new operational model [2][3]. - The number of Active Drivers in December 2023 was 5,127, a decrease from 5,240 in November 2023 [1][2]. Group 2: Business Models - The original model allows orders from partner platforms to be completed by Senmiao's own platform, where Senmiao earns commissions based on a percentage of the order value [4]. - The new model, initiated in August 2021, enables ride-hailing requests to be completed on partner platforms using Senmiao's network of cars and drivers for a fixed monthly fee [4][5]. Group 3: Future Reporting - Starting in 2024, Senmiao will provide updates on its operating metrics on a quarterly basis as part of its financial disclosures [2].