Senmiao Technology Announces Unaudited Financial Results for First Quarter of Fiscal Year 2020
Senmiao Technology Limited (AIHS)
US:NASDAQ Investor Relations:
prnewswire.com/news-releases/senmiao-technology-limited-announces-pricing-of-us120-million-firm-commitment-initial-public-offering-300615172.html
Company Research
Source: PR Newswire
CHENGDU, China, Aug. 14, 2019 /PRNewswire/ -- Senmiao Technology Limited (NASDAQ: AIHS) ("Senmiao"), a provider of automobile transaction and related services and an operator of an online lending marketplace connecting Chinese investors with individual and small-to-medium-sized enterprise borrowers in China, today announced its unaudited financial results for the quarter ended June 30, 2019.First Quarter of Fiscal 2020 HighlightsTotal revenues increased by 3,975% year-over-year to $5,094,440 from $125,026 Gross profit increased by 758% year-over-year to $1,072,128 from $125,026 Loss per share decreased by 50% year-over -year to $0.02 from $0.04"We had a great start to our fiscal year 2020 with a strong performance from our automobile transaction and related services business during the first quarter. Thanks to the Ruixi acquisition that gave us a unique opportunity to capitalize on the growing ride-sharing market in 2nd and 3rd tier cities in China, like Chengdu and Changsha, we are
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