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Sep 30, 2022
Senmiao Technology Q2 2023 Earnings Report
Senmiao Technology reported financial results for the second quarter of fiscal year 2023.
Key Takeaways
Senmiao Technology reported a strong top line growth during the second quarter of fiscal 2023, with increased revenue contributions from automobile rental and online ride-hailing platform services. Total revenues were $2.2 million, compared to $1.1 million in the prior-year period.
Total revenues from continuing operations were $2.2 million, an increase compared to $1.1 million in the prior-year period.
Operating lease revenues from automobile rentals were $0.9 million, compared to $0.4 million in the prior-year period.
Revenues from the online ride-hailing platform services business were $1.0 million, compared to $0.6 million in the prior-year period.
Net loss from continuing operations was $1.2 million, compared to net income of $0.7 million in the prior-year period.
Senmiao Technology
Senmiao Technology
Forward Guidance
Senmiao plans to continue strengthening and expanding its partnership base to enable Senmiao to grow into new regions and improve access to its services.
Positive Outlook
- Continue expanding online ride-hailing business to new cities.
- Build symbiotic partnerships.
- Cooperative partnerships in vehicle rental and leasing services.
- New energy vehicle charging services.
- Vehicle and driver resources in key cities.