Financial Performance - For the three months ended December 31, 2025, revenues were $358,684, a decrease of 20.5% from $451,447 in the same period of 2024[18]. - Gross profit for the nine months ended December 31, 2025, was $224,641, down 50.7% from $455,912 in the same period of 2024[18]. - The net loss attributable to the Company's stockholders for the nine months ended December 31, 2025, was $1,850,369, compared to a loss of $1,950,184 in the same period of 2024[18]. - The Company reported a comprehensive loss of $2,061,870 for the nine months ended December 31, 2025, compared to $1,823,519 in the same period of 2024[18]. - The loss per share for continuing operations was $(0.85) for the nine months ended December 31, 2025, compared to $(1.11) in the same period of 2024[19]. - For the nine months ended December 31, 2025, the net loss was $1,873,845, compared to a net loss of $1,771,649 for the same period in 2024, indicating an increase in losses[22]. - The total net loss before income tax for the nine months ended December 31, 2025, was $1,771,242, compared to a loss of $992,186 for the same period in 2024, representing an increase of approximately 78.7%[153]. - The U.S. accounted for a net loss before income tax of $1,452,234 for the nine months ended December 31, 2025, compared to a loss of $664,549 in 2024, indicating a significant increase of approximately 118.5%[153]. Operating Expenses - Total operating expenses increased to $2,381,440 for the nine months ended December 31, 2025, compared to $1,619,735 in the same period of 2024, reflecting a rise of 47.0%[18]. - The loss from operations for the nine months ended December 31, 2025, was $2,156,799, compared to a loss of $1,163,823 in the same period of 2024, indicating a worsening operational performance[178]. - Total operating expenses for the nine months ended December 31, 2025, were $1,182,013, up from $1,002,461 in 2024, reflecting an increase of approximately 17.9%[110]. Cash and Liquidity - Cash and cash equivalents as of December 31, 2025, were $3,508,226, significantly higher than $701,302 as of March 31, 2025[16]. - Total current assets increased to $4,331,637 as of December 31, 2025, compared to $2,238,762 as of March 31, 2025, marking a growth of 93.5%[16]. - The company reported a net cash used in operating activities of $1,258,193 for the nine months ended December 31, 2025, compared to a net cash provided of $548,442 in the same period of 2024[22]. - The company experienced net cash outflows of $1.3 million in operating activities during the same period[37]. - The company's cash and cash equivalents increased by approximately $2.8 million compared to September 30, 2025, maintaining a net working capital of approximately $2.4 million as of December 31, 2025[38]. Assets and Liabilities - Total liabilities decreased to $1,946,170 as of December 31, 2025, from $5,218,172 as of March 31, 2025[17]. - The total accumulated deficit increased to $46,959,942 as of December 31, 2025, from $43,334,452 as of December 31, 2024[21]. - As of December 31, 2025, total accounts receivable was $1,213, down from $8,963 as of March 31, 2025, indicating a significant reduction[113]. - Total accrued expenses and other liabilities as of December 31, 2025, were $1,562,117, compared to $1,771,072 as of March 31, 2025, reflecting a decrease of approximately 11.8%[125]. Revenue Streams - Operating lease revenues from automobile rentals for the nine months ended December 31, 2025, were $1,076,175, down from $1,312,582 in 2024, indicating a decline of about 18%[82]. - The Company reported financing revenues of $56,297,000 for the nine months ended December 31, 2025, compared to $72,697,000 in 2024, reflecting a decrease of approximately 22.6%[82]. - The Company generated service fees from NEVs leasing amounting to $33,341,000 for the nine months ended December 31, 2025, with no revenue reported for the same period in 2024[82]. - Default revenues generated were $5,831 million in Q4 2025, down from $7,711 million in Q4 2024, reflecting a decrease of approximately 24.4%[214]. Discontinued Operations - The company discontinued its automobile financial leasing services as of July 31, 2025, focusing on online ride-hailing services[25]. - The Company recognized a gain of $426,766 on the disposal of discontinued operations, specifically from Yicheng and Senmiao Consulting[110]. - For the nine months ended December 31, 2025, the Company reported a net income of $184,128 from discontinued operations, which included a gain on disposal of discontinued operations amounting to $397,775[107]. - The Company sold 100% of the equity interests in Yicheng and Senmiao Consulting for zero consideration, completing the disposition on December 31, 2025, due to recurring losses in the Sichuan region[108]. Market and Operational Strategy - The online ride-hailing market in China is projected to grow from RMB354.7 billion in 2024 to RMB751.3 billion by 2028, driven by increased demand for economical mobility options[202]. - The company plans to enhance marketing efforts and customer acquisition strategies to maintain and grow its automobile lessee base[192]. - The company plans to enhance its business system to improve service quality and user experience to remain competitive in the market[201]. Tax and Regulatory Matters - The effective tax rate for the Company's operations in the PRC is 25%[151]. - The Company recognized deferred tax assets in the U.S. of $1,877,505 as of December 31, 2025, with a valuation allowance of $2,786,458, resulting in net deferred tax assets of $0[155]. Employee and Operational Structure - The company has one employee in its sales department as of December 31, 2025, indicating a lean operational structure[192].

Core Insights - The recent focus on Senmiao Technology (AIHS.us) revolves around its financial performance and stock price fluctuations [1] Financial Performance - For the first quarter of fiscal year 2026, the company reported revenue of $860,100 and a net loss of $276,400, which represents a year-over-year reduction of 63.76% in losses [2] Stock Performance - On January 7, 2026, the stock price increased by 5.66% to $1.12, and on December 30, 2025, it rose by 9.52% to $1.15, with both instances occurring on low trading volumes, attributed to limited market liquidity [3] Future Developments - Currently, there are no specific upcoming events disclosed for Senmiao Technology, such as new product launches or significant meetings. The company's focus remains on automotive leasing and fintech, but there have been no recent strategic announcements [4]

Group 1 - The core point of the article highlights the significant stock price increases of several Chinese concept stocks, with notable gains in specific companies [1] Group 2 - BQ (波奇宠物) saw a price increase of 41.54%, closing at 2.760 with a trading volume of 90.9233 million [1] - TAOP (淘屏) experienced a rise of 32.71%, closing at 2.840 with a trading volume of 62.272 million [1] - PMAX (安林财经印刷) increased by 29.71%, closing at 2.270 with a trading volume of 28.241 million [1] - AIHS (森淼科技) rose by 18.49%, closing at 1.410 with a trading volume of 0.0964 million [1] - LOT (路特斯) had a gain of 17.19%, closing at 1.500 with a trading volume of 0.3482 million [1]

Core Points - Senmiao Technology Limited has completed a registered direct offering, selling 1,350,000 shares and pre-funded warrants for a total of approximately $2.8 million before expenses [1][3] - The company plans to issue additional warrants for up to 4,510,000 shares, pending stockholder approval, with an exercise price of $1.26 per share [2][4] - The financing aims to strengthen the company's financial foundation and support its growth strategy, focusing on diversifying revenue streams [3] Offering Details - The shares were sold at a purchase price of $1.26 each, with gross proceeds of about $2.8 million [1] - The offering is conducted under a "shelf" registration statement effective since September 29, 2023, with a prospectus supplement filed on November 14, 2025 [3] - The warrants will be offered under exemptions from registration requirements, and a registration statement for the resale of warrant shares will be filed within 30 days after stockholder approval [4] Company Overview - Senmiao Technology Limited is headquartered in Chengdu, Sichuan Province, and provides automobile transaction services, including sales, financing, and operating leases in China [6]

Financial Performance - Total revenues for the three months ended September 30, 2025, were $936,344, an increase from $745,880 in the same period of 2024, representing a growth of approximately 25.5%[16] - Gross profit for the six months ended September 30, 2025, was $471,043, compared to $349,869 for the same period in 2024, reflecting a year-over-year increase of about 34.7%[16] - The Company reported a gross profit margin of approximately 29.3% for the three months ended September 30, 2025, compared to 13.0% for the same period in 2024[16] - The Company incurred total operating expenses of $1,032,301 for the three months ended September 30, 2025, compared to $712,646 for the same period in 2024, an increase of approximately 45%[16] - The Company recognized a net cash used in operating activities of $(392,547) for the six months ended September 30, 2025, compared to a net cash provided of $192,349 for the same period in 2024[19] - The Company reported a net loss of approximately $1.0 million for the six months ended[32] - The Company recognized a net loss of $723,730 for the three months ended September 30, 2025, compared to a net loss of $238,739 for the same period in 2024, reflecting a significant increase in losses of approximately 203.5%[176] Assets and Liabilities - Total current assets decreased to $2,109,714 as of September 30, 2025, from $2,238,762 as of March 31, 2025, a decline of about 5.8%[14] - Total liabilities as of September 30, 2025, were $4,771,498, down from $5,218,172 as of March 31, 2025, representing a decrease of approximately 8.5%[14] - The total assets decreased to $4,682,368 as of September 30, 2025, from $5,800,792 as of March 31, 2025, reflecting a decline of about 19.3%[15] - The total equity as of September 30, 2025, was $(132,073), a decline from $2,952,520 as of September 30, 2024, reflecting a significant decrease in equity[17] - The company had cash and cash equivalents of $676,980 as of September 30, 2025, down from $833,577 as of March 31, 2025, a decrease of approximately 18.8%[14] Credit Losses and Deficits - The company had a total accumulated deficit of $(45,922,713) as of September 30, 2025, compared to $(42,769,137) as of September 30, 2024, indicating an increase in the accumulated deficit of approximately 5.03%[17] - The allowance for credit losses due from Jinkailong was $5,391,992 as of September 30, 2025[30] - The allowance for credit losses remained unchanged at $17,063,000 as of September 30, 2025, compared to March 31, 2025, after a write-off of $17,210,000 during the six months ended September 30, 2025[105] Revenue Streams - Operating lease revenues from automobile rentals for the six months ended September 30, 2025, were $1,442,918, up 7.6% from $1,340,733 in 2024[75] - Service fees from NEVs leasing increased significantly to $194,559 for the six months ended September 30, 2025, compared to $73,788 in 2024, representing a growth of 163.5%[75] - The company reported revenues of $936,344 from automobile transaction and related services for the three months ended September 30, 2025, compared to $745,880 for the same period in 2024, marking an increase of approximately 25.5%[176] Market and Operational Insights - The online ride-hailing industry in China is projected to grow from RMB354.7 billion in 2024 to RMB751.3 billion by 2028, driven by rising consumer demand for economical mobility options[199] - The total volume of online ride-hailing orders in China decreased by approximately 26% to 758 million in September 2025 compared to the same month in 2024, indicating increased competition and market saturation[200] - Approximately 40% of ride-hailing drivers using the company's services had not obtained the required driver's license as of September 30, 2025, which may impact operations[204] - The company plans to enhance its marketing efforts and strengthen collaborations with automobile dealers to maintain and grow its customer base[189] Future Outlook and Concerns - The company has substantial doubt about its ability to continue as a going concern due to insufficient funds to meet working capital requirements[34] - The company is currently evaluating the impact of new accounting standards effective after December 15, 2026, which may affect its financial statements and disclosures[99] - The company plans to continue focusing on its automobile rental business, expecting it to account for a majority of revenues moving forward[208]

Core Points - Senmiao Technology Limited has entered into a securities purchase agreement with accredited investors for the issuance of 1,350,000 shares of common stock and pre-funded warrants to purchase 905,000 shares at a price of $1.26 per share, resulting in gross proceeds of approximately $2.8 million [1] - The company will also issue warrants to purchase up to 4,510,000 shares of common stock, which will require stockholder approval and have a term of 5.5 years with an exercise price of $1.26 per share [1][4] - The closing of the sale of shares is expected around November 17, 2025, subject to customary closing conditions [1] Company Use of Proceeds - The net proceeds from the offering will be used for general corporate purposes and working capital [2] Regulatory Information - The shares are being offered under a "shelf" registration statement on Form S-3, effective since September 29, 2023, and a prospectus supplement will be filed with the SEC [3] - The warrants and warrant shares will be offered under an exemption from registration requirements of the Securities Act, and a registration statement on Form S-1 will be filed for the resale of warrant shares within 30 days after the special meeting [4] Company Overview - Senmiao Technology Limited, headquartered in Chengdu, Sichuan Province, provides automobile transaction and related services, including sales of automobiles, financing facilitation, management, operating leases, and guarantees in China [6]

Core Insights - Premarket trading is showing notable activity with early price movements indicating potential opportunities before the market opens [1] Premarket Gainers - Galaxy Payroll Group Limited (GLXG) increased by 39% to $5.34 - Lithium Americas Corp. (LAC) rose by 31% to $7.52 - Senmiao Technology Limited (AIHS) gained 22% to $2.45 - The AES Corporation (AES) saw a 10% increase to $14.53 - Strive, Inc. (ASST) also increased by 10% to $2.77 - Shoulder Innovations, Inc. (SI) rose by 9% to $13.78 - Top KingWin Ltd (WAI) increased by 8% to $3.80 - Southland Holdings, Inc. (SLND) saw a 7% increase to $4.61 - CaliberCos Inc. (CWD) rose by 6% to $4.75 - Mannatech, Incorporated (MTEX) increased by 5% to $10.53 [3] Premarket Losers - Real Messenger Corporation (RMSG) decreased by 16% to $2.01 - Etoiles Capital Group Co., Ltd (EFTY) fell by 14% to $14.45 - Enanta Pharmaceuticals, Inc. (ENTA) dropped by 13% to $10.41 - CollPlant Biotechnologies Ltd. (CLGN) saw an 11% decrease to $2.39 - Fortress Biotech, Inc. (FBIO) declined by 10% to $3.30 - Uni-Fuels Holdings Limited (UFG) fell by 9% to $7.52 - Alset Inc. (AEI) decreased by 9% to $2.30 - JFB Construction Holdings (JFB) saw a 5% decline to $12.20 - SHF Holdings, Inc. (SHFS) dropped by 5% to $6.80 - Phio Pharmaceuticals Corp. (PHIO) decreased by 5% to $2.34 [4]

Core Insights - Chinese concept stocks experienced significant gains, with ChowChow Cloud Inte leading the surge at 215.25% increase [1] Group 1: Stock Performance - ChowChow Cloud Inte saw a closing price of 12.610, with a rise of 215.25%, translating to an increase of 8.610 and a trading volume of 20.6982 million [1] - CheChe Technology recorded a 27.12% increase, closing at 1.500, up by 0.320, with a trading volume of 2.3821 million [1] - Carbon Doctor Holdings increased by 24.87%, closing at 2.360, with an increase of 0.470 and a trading volume of 35.2056 million [1] - Senmiao Technology rose by 24.19%, closing at 2.670, up by 0.520, with a trading volume of 152 million [1] - Mercurity Fintech experienced an 18.80% increase, closing at 9.540, with an increase of 1.510 and a trading volume of 1.7784 million [1]

Core Viewpoint - Premarket trading is showing notable activity with significant price movements indicating potential investment opportunities before the market opens [1] Premarket Gainers - FGI Industries Ltd. (FGI) is up 278% at $15.02 [3] - Senmiao Technology Limited (AIHS) is up 96% at $4.22 [3] - Conifer Holdings, Inc. (CNFR) is up 86% at $2.11 [3] - WEBTOON Entertainment Inc. (WBTN) is up 39% at $20.81 [3] - Nukkleus Inc. (NUKK) is up 18% at $6.08 [3] - Tantech Holdings Ltd (TANH) is up 12% at $2.13 [3] - Check-Cap Ltd. (CHEK) is up 9% at $2.33 [3] - Ivanhoe Electric Inc. (IE) is up 8% at $9.71 [3] - Wolfspeed, Inc. (WOLF) is up 8% at $3.21 [3] - Bolt Projects Holdings, Inc. (BSLK) is up 5% at $3.95 [3] Premarket Losers - Envirotech Vehicles, Inc. (EVTV) is down 17% at $2.27 [4] - Dave & Buster's Entertainment, Inc. (PLAY) is down 15% at $20.40 [4] - NanoVibronix, Inc. (NAOV) is down 12% at $9.37 [4] - ADTRAN Holdings, Inc. (ADTN) is down 10% at $9.37 [4] - Rain Enhancement Technologies Holdco, Inc. (RAIN) is down 10% at $6.00 [4] - CNS Pharmaceuticals, Inc. (CNSP) is down 7% at $8.50 [4] - AVITA Medical, Inc. (RCEL) is down 7% at $6.22 [4] - Vince Holding Corp. (VNCE) is down 7% at $2.60 [4] - Monte Rosa Therapeutics, Inc. (GLUE) is down 6% at $6.50 [4] - Meiwu Technology Company Limited (WNW) is down 6% at $2.06 [4]

Group 1 - The top five gaining Chinese concept stocks at the close were: Senmiao Technology up 61.25%, Roma Green Finance up 38.83%, Four Seasons Education up 29.18%, Nature Forestry up 23.3%, and Changwei Automotive up 20.75% [1] - Senmiao Technology (AIHS) closed at 3.870 with a gain of 61.25%, increasing by 1.470, and had a trading volume of 1.025 billion [1] - Roma Green Finance (ROMA) closed at 2.485 with a gain of 38.83%, increasing by 0.695, and had a trading volume of 307.6 thousand [1] - Four Seasons Education (FEDU) closed at 14.210 with a gain of 29.18%, increasing by 3.210, and had a trading volume of 427.2 thousand [1] - Nature Forestry (NWGL) closed at 1.270 with a gain of 23.30%, increasing by 0.240, and had a trading volume of 192.34 thousand [1] - Changwei Automotive (AIEV) closed at 0.1100 with a gain of 20.75%, increasing by 0.0189, and had a trading volume of 8.188 thousand [1]