Senmiao Technology Ltd

Senmiao is a U.S. holding company, incorporated in Nevada on June 8, 2017, that conducts its primary operations through subsidiaries and an equity investee company in the People's Republic of China (PRC). Since November 2018, Senmiao has provided automobile transaction and related services, primarily focused on the online ride-hailing industry in China. These services are delivered through its wholly owned subsidiaries, Yicheng and Corenel, and its majority-owned subsidiaries, Jiekai and Hunan Ruixi, as well as its equity investee company, Jinkailong. From October 2020 to August 2024, Senmiao also operated an online ride-hailing platform through XXTX, a wholly owned subsidiary of Senmiao Consulting. However, on August 8, 2024, Senmiao Consulting entered into an Acquisition Agreement with Jiangsu Yuelaiyuexing Technology Co., Ltd. for the sale of 100% of Senmiao's equity interest in XXTX and its subsidiaries. This acquisition was completed on August 20, 2024, discontinuing Senmiao's operations in the online ride-hailing platform service segment. Currently, Senmiao operates in one segment: Automobile Transaction and Related Services. This segment includes Auto Operating Leasing, where the company provides car rental services to individual customers for personal use with lease terms of no more than twelve months. It also includes Service fees from new energy vehicles ("NEVs") leasing, where fees are charged to NEV lessees for various services based on selected product solutions, and service fees from automobile purchase, covering services provided to purchasers throughout the buying process.