AIHS - Senmiao Technology reports sequential drop in February completed orders

Senmiao Technology (NASDAQ:AIHS) trades 1% higher premarket after it reported 0.7M+ total completed orders for February 2022, which is a sequential decrease from 0.9M+ total orders completed in January 2022. The drop was led by seasonality driven by the Lunar New Year holiday in China and local resurgence of COVID-19 cases in Senmiao's key cities. The number of completed rides decreased in the first half of February 2022 due to the national holiday but rose back to pre-holiday levels in the third week of the month. Since the launch of Senmiao's online ride-hailing platform in October 2020, ~15.5M rides have been completed using its platform.

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Senmiao Technology reports sequential drop in February completed orders