AIHS - Senmiao Technology shows a drop in August orders

A financing and servicing company focused on the online ride-hailing industry in China, Senmiao Technology's (AIHS) reported 530,000 completed orders for the month of August 2021, compared to approximately 1.7M in July 2021. The decrease was a result of a new contract entered by the Company and Shanghai Lutuan Technology, an affiliate of Meituan, China's leading e-commerce platform for services. According to this new cooperation agreement, online ride-hailing requests and orders will be completed on Meituan's platform utilizing company's network of cars and drivers for a set monthly fee.

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Senmiao Technology shows a drop in August orders