Notable News Spotlight: Senmiao Technology Limited (NASDAQ:AIHS)

Senmiao Technology Limited (NASDAQ:AIHS) stock identified change of 25.97% away from 52-week low price and recently located move of -50.19% off 52-week high price. It has market worth of $105.73M. AIHS stock has been recorded -17.00% away from 50 day moving average and -11.98% away from 200 day moving average. Moving closer, we can see that shares have been trading -17.81% off 20-day moving average.

Senmiao Technology Limited (NASDAQ:AIHS), an operator of an online lending marketplace for loan facilitation, and a provider of automobile transaction and financing services in China, declared that Sichuan Jinkailong Automobile Leasing Co., Ltd. (“Jinkailong”), a variable interest entity of Senmiao’s majority owned subsidiary, entered into a cooperation agreement (the “Agreement”) with Sichuan Feiniu Automobile Transportation Co., Ltd. (“Feiniu”), a provider of intercity passenger transportation and freight logistics services, to jointly develop an intercity long-distance carpool business in the metropolitan area of Chengdu, Sichuan, China via the ridesharing platform of Didi Chuxing Technology Co., Ltd. (“Didi”), China’s largest ridesharing platform, which offers a full range of app-based transportation options for 550 million users.

Pursuant to the Agreement, Jinkailong will be Feiniu’s exclusive partner providing transportation services in the metropolitan area of Chengdu, Sichuan Province, which has a population of over 16 million people. Such services are to be carried out through Didi’s platform pursuant to a service agreement between Feiniu and Didi.

“This announcement marks yet another milestone on our journey to becoming a significant player in the automobile transaction and financing services market in Chengdu through the collaboration among Didi, Feiniu and our affiliate Jinkailong. Through this collaboration, we are seeking to take full advantage of the booming ride-sharing market in second and third-tier cities in China, like Chengdu. Based on our market research, we hope to launch up to 5,000 vehicles for intercity carpool services in Chengdu market over the next 12 months, which will potentially generate revenues up to $7.5 million for Senmiao.” said Xi Wen, Chairman, Chief Executive Officer and President of Senmiao.

 The Financial sector company, Senmiao Technology Limited noticed change of -3.00% to $3.88 along volume of 201356 shares in recent session compared to an average volume of 95.22K. The stock observed return of -15.10% in 5 days trading activity. The stock was at -18.83% over one month performance. AIHS’s shares are at 14.45% for the quarter and driving a -46.26% return over the course of the past year and is now at 1.84% since this point in 2018. 

 The average volatility for the week at 12.79% and for month was at 12.31%. There are 27.25M shares outstanding and 8.11M shares are floated in market.

Leave a Reply

Your email address will not be published. Required fields are marked *