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Senmiao Technology Ltd. (AIHS) Stock Surged in Aftermarket. Here’s why.

Senmio Technology Ltd. (AIHS) is an automobile transaction company in China. It serves its customers through facilitating automobile acquisition and also operates its financing, operating lease, and guarantee services. The company is also engaged in the ride-hailing systems for the growing online ride-hailing market.

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The price of AIHS stock during the regular trading on January 11, 2022, was $0.36 with a slight decline of 0.11%. At last check in the aftermarket, the stock went up by 3.98%.

AIHS: Events and Happenings

On January 11, 2022, AIHS reported about operating metrics of its exclusive digital ride-hailing program for December 2021. The company reported up to 1.1 million completed orders and saw an increase of 13.9% against 0.9 million completed orders for November 2021.

On November 30, 2021, AIHS reported that it launched its digital ride-hailing program for drivers and customers in Suzhou, China.

AIHS: Key Financials

On November 16, 2021, AIHS reported its financial results for the fiscal 2022 second quarter ended September 30, 2021. Some of the key updates are as follows

Revenue and Assets

Total revenues of $2.9 million were collected for Q2 2022 with an increase of approximately 105% as compared to the prior-year period when revenue was $1.4 million. Total current assets of the company for Q2 2022 were $7.24 million.

Net Loss

Net loss reduced to $0.1 million in the second fiscal quarter of 2022, from $2.6 million in the same period of the previous year.

On November 12, 2021, AIHS reported its operating metrics for its digital ride-hailing program for October 2021. The company reported up to 1.0 million completed orders and saw an increase of 1.6% against the completed orders for September 2021.

On November 11, 2021, AIHS reported about the closure of private placement of a total of $5 million shares of the Company’s common stock at a conversion rate of $0.68 per share. Additionally, AIHS also issued the warrants for the acquisition of approximately 7,352,942 shares of its common stock.

On November 3, 2021, AIHS reported about its collaboration with Guizhou Zhongxuan Online Ride-hailing Operation Group Ltd which is mainly focused on tourism and charter passenger transportation, station management, EV sales, and maintenance, charging and swapping power station operations.

On October 26, 2021, AIHS reported about the collaboration with Sichuan Chengfeng Intelligent Transportation Company engaged in personalized passenger transport.

Conclusion

AIHS stock plummeted 58% from the last six months due to pandemic restrictions on the economic uplift. The current aftermarket incline by the stock is possibly due to various factors one being the company’s statement about ride-hailing platform operating metrics for December 2021. The analysts are hoping for a great year ahead for the company’s stock.

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