Senmiao Technology announces approximately 2.1 million completed rides on its ride-hailing platform in June 2021

Senmiao Technology Limited, a financing and servicing company focused on the online ride-hailing industry in China as well as an operator of its own online ride-hailing platform, announced operating metrics for its proprietary online ride-hailing platform for the month of June 2021. From May 2021 to June 2021, the number of completed orders decreased approximately 4%, primarily due to a COVID-19 resurgence in Guangzhou, which resulted in travel restrictions and lockdowns being implemented by the local government. The number of drivers completing rides via the platform (known as Active Drivers) in June 2021 increased approximately 2% from May 2021.

Since the launch of Senmiao’s online ride-hailing platform in Chengdu in October 2020, in Changsha in December 2020, in Neijiang in January 2021, in Guangzhou at the end of March 2021, and in Nanchong and Panzhihua in June 2021, approximately 10.5 million rides have been completed using the platform, including approximately 2.1 million rides during June 2021. The average monthly growth rate of the number of completed orders and Active Drivers during the six months ended June 30, 2021, was approximately 29% and 28%, respectively.