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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.
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.
Historical Earnings Impact
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